Major indices are relatively unchanged ahead of the open Tuesday. President Trump continues to increase pressure on Iran. Trump has imposed additional “hard hitting” sanctions against the country, in what he describes as a “strong and proportionate response to Iran’s increasingly provocative actions” following the downing of a U.S. drone late last week. The additional sanctions also target the office of Iran’s supreme leader Ayatollah Ali Khamenei, denying Khamenei access to financial resources which would Inevitably fund parts of the Iranian regime such as the Islamic Revolutionary Guard Corps. Iranian President Hassan Rouhani called the move ” outrageous and idiotic”, adding that the Trump administration had become “become mentally crippled” and that the administration has permanently closed any diplomatic path with the country. The Dow Jones is down -0.08%, the S&P 500 is down -0.13%, the Nasdaq is down -0.23%.
Today's market outlook is Neutral
We can only see a short distance ahead, but we can see plenty there that needs to be done.
Stocks on the Move
Allergan plc (AGN), Lennar Corporation (LEN) and PulteGroup, Inc. (PHM) are moving higher this morning, while AbbVie Inc (ABBV), Kellogg Company (K) and Carnival Corp (CCL) are headed lower. GrubHub Inc (GRUB), SiteOne Landscape Supply Inc (SITE) and GasLog Ltd (GLOG) were upgraded by analysts this morning, while Tiffany & Co. (TIF), Kellogg Company (K) and Caesars Entertainment Corporation Common Stock (CZR) were downgraded.
Stocks in Asia are mixed. The Mumbai Sensex is up 0.8%, the Australia ASX All Ordinaries is down -0.16%, the Nikkei 225 is down -0.43% the Shanghai SE Composite Index is down -0.87% and the Hang Seng is down -1.27%. Stocks in Europe are down. The Euro Stoxx 50 is down -0.2%, the CAC 40 is down -0.12%, the FTSE 100 is down -0.09% and the DAX is down -0.03%.
Futures and Currencies
Energy futures are down today. The price for West Texas Intermediate crude oil is down -0.16 at 57.74 per barrel. Brent crude is down -0.31 at 64.55 per barrel. Natural Gas is down -0.02 at 2.29. Precious metals are mixed this morning. Gold is up 8.42 at 1428.14 per ounce. Platinum is down -0.92 at 814.12 while silver is up 0.03 at 15.51. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, down against the Yen and up against the Pound.
Yesterday, 848,390 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 507,784 put contracts. The single-session put/call was 0.6 while the 20-day moving average is now at 0.64.
Day's Range:$298.26 - $299.19
52-week Range:$301.13 - $233.76
Day's Range:$272.17 - $272.93
52-week Range:$273.99 - $216.97
Day's Range:$192.41 - $193.60
52-week Range:$194.19 - $143.46
Today's Economic Calendar
|What's Happening||Period||Release Time|
|S&P Case-Shiller Home Price Index||Apr||08:00|
|FHFA Housing Price Index||Apr||09:00|
|New Home Sales||May||10:00|