Morning Update: Trade worries push stocks lower

First Look

Stocks are a few ticks below breakeven Monday morning. Traders are again concerned about trade disputes between the U.S. and the rest of the world. Treasury Secretary Steven Mnuchin tried to calm worries about a currency war at a meeting of the G-20 this weekend. That meeting ended with a statement pointing to the mostly trade-based risks to global growth. Iran’s president warned the U.S. against trying to interfere with oil exports, which drew an all-caps Twitter response from President Trump. The Dow Jones is down -0.01%, the S&P 500 is down -0.02%, the Nasdaq is down -0.24%.

Today's market outlook is Neutral

The real man smiles in trouble, gathers strength from distress, and grows brave by reflection.
Thomas Paine

Stocks on the Move

Hasbro, Inc. (HAS), Mattel, Inc. (MAT) and Universal Health Services, Inc. Class B (UHS) are moving higher this morning, while Illinois Tool Works Inc. (ITW), Micron Technology, Inc. (MU) and Aetna Inc (AET) are headed lower. SunTrust Banks, Inc. (STI), Cleveland-Cliffs Inc (CLF) and Duke Energy Corp (DUK) were upgraded by analysts this morning, while General Electric Company (GE), Philip Morris International Inc. (PM) and Papa John's Int'l, Inc. (PZZA) were downgraded.

International Markets

Stocks in Asia are mixed. The Shanghai SE Composite Index is up 1.07%, the Mumbai Sensex is up 0.61%, the Hang Seng is up 0.11% the Australia ASX All Ordinaries is down -0.9% and the Nikkei 225 is down -1.33%. Stocks in Europe are down. The CAC 40 is down -0.51%, the Euro Stoxx 50 is down -0.23%, the FTSE 100 is down -0.19% and the DAX is down -0.14%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.65 at 98.91 per barrel. Brent crude is up 0.83 at 73.9 per barrel. Natural Gas is down -0.4 at 2.72. Precious metals are mixed this morning. Gold is up 1.16 at 1230.69 per ounce. Platinum is up 6.06 at 834.69 while silver is down -0.02 at 15.53. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, down against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 1,348,533 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 895,449 put contracts. The single-session put/call was 0.66 while the 20-day moving average is now at 0.62.

Already a member?

Login to see your daily Morning Action trade idea.

Daily Action Trades for July 23, 2018

Receive a Morning Action trade idea every market day right here in the Morning Update, plus on Saturdays in our Stocks to Watch newsletter.

Learn more and join

  • Last Price:
  • Previous Close:
  • Day's Range:
    $279.50 - $280.48
  • 52-week Range:
    $286.63 - $241.83
  • Last Price:
  • Previous Close:
  • Day's Range:
    $249.68 - $251.04
  • 52-week Range:
    $265.93 - $214.68
  • Last Price:
  • Previous Close:
  • Day's Range:
    $178.79 - $180.17
  • 52-week Range:
    $180.65 - $140.18

Today's Economic Calendar

What's Happening Period Release Time
Existing Home Sales Jun 10:00

All stocks and options shown are examples only. These are not recommendations to buy or sell any security and they do not represent in any way a positive or negative outlook for any security. Potential returns do not take into account your trade size, brokerage commissions, taxes or our subscription fees which will affect actual investment returns. Stocks and options involve risk and are not suitable for all investors and investing in options carries substantial risk. Prior to buying or selling options, a person must receive a copy of Characteristics and Risks of Standardized Options available at Privacy policy available upon request.