Morning Update: Stocks Try to Rebound

First Look

Stocks are pointed higher in the pre-market Tuesday following yesterday’s selloff. The Dow Jones and S&P 500 both lost 2.4%, with the Nasdaq losing 3.4% after China announced retaliatory tariffs in the escalating trade war. Chinese officials announced plans to impose duties on 2,493 U.S. imports to 25 percent. President Trump warned against “substantial” retaliation as U.S. officials released a list of $300 billion in additional Chinese imports subject to a 25 percent tariff, covering nearly all Chinese imports to the U.S. Trump said he plans to meet with Chinese President Xi Jinping at the G-20 summit in June, and that he feels talks with China will be “very successful”. Trump is also taking a hard stance towards Iran, saying that the country will “greatly suffer” should it do anything to escalate hostility against U.S. interests. The Nasdaq is up 1.04%, the S&P 500 is up 0.78%, the Dow Jones is up 0.67%.

Today's market outlook is Neutral

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You can observe a lot by just watching.
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Stocks on the Move

Baker Hughes A GE Co (BHGE), Stryker Corporation (SYK) and Marathon Petroleum Corp (MPC) are moving higher this morning, while Deere & Company (DE), Carnival Corp (CCL) and Target Corporation (TGT) are headed lower. The Coca-Cola Co (KO), Energizer Holdings Inc (ENR) and Capital One Financial Corp. (COF) were upgraded by analysts this morning, while Deere & Company (DE), Solid Biosciences Inc (SLDB) and Shopify Inc (SHOP) were downgraded.

International Markets

Stocks in Asia are mixed. The Mumbai Sensex is up 0.61%, the Nikkei 225 is down -0.59%, the Shanghai SE Composite Index is down -0.69% the Australia ASX All Ordinaries is down -0.85% and the Hang Seng is down -1.5%. In Europe stocks are up. The CAC 40 is up 1.13%, the FTSE 100 is up 0.91%, the Euro Stoxx 50 is up 0.84% and the DAX is up 0.55%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.81 at 61.85 per barrel. Brent crude is up 1.05 at 71.82 per barrel. Natural Gas is up 0.04 at 2.66. Precious metals are mixed this morning. Gold is down -2.1 at 1299.7 per ounce. Platinum is up 9.50 at 862.9 while silver is up 0.02 at 14.8. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, up against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 1,735,063 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 1,537,646 put contracts. The single-session put/call was 0.89 while the 20-day moving average is now at 0.63.

Earnings Expected Today

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  • Last Price:
    $282.95
  • Previous Close:
    $282.14
  • Day's Range:
    $282.09 - $284.20
  • 52-week Range:
    $294.95 - $233.76
  • Last Price:
    $256.07
  • Previous Close:
    $254.76
  • Day's Range:
    $255.02 - $256.68
  • 52-week Range:
    $269.28 - $216.97
  • Last Price:
    $178.16
  • Previous Close:
    $178.25
  • Day's Range:
    $177.94 - $179.85
  • 52-week Range:
    $191.32 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
NFIB Small Business Optimism Index Apr 06:00
Import Prices Apr 08:30
Export Prices Apr 08:30

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