Stocks Gain in the Pre-Market

First Look

Stocks are pointed higher before the bell Thursday after a roller-coaster overnight session for futures. Chinese officials warned that President Trump’s newest round of tariffs violates the agreement made between Trump and Premier Xi in Osaka earlier this year and promised to retaliate. That news sent stocks sharply lower until better-than-expected earnings from Wal-Mart (WMT) helped push things back into positive territory. Yields on 30-year Treasuries fell below 2% overnight, hitting a new record low. The S&P 500 is up 0.54%, the Dow Jones is up 0.39%, the Nasdaq is up 0.38%.

Today's market outlook is Neutral

You must not fight too often with one enemy, or you will teach him all your art of war.
Napoleon Bonaparte

Stocks on the Move

Walmart Inc (WMT), Target Corporation (TGT) and Under Armour Inc Class A (UAA) are moving higher this morning, while Tapestry Inc (TPR), Cisco Systems, Inc. (CSCO) and General Electric Company (GE) are headed lower. Sprouts Farmers Market Inc (SFM), Levi Strauss & Co. (LEVI) and Elanco Animal Health Inc (ELAN) were upgraded by analysts this morning, while Urban Outfitters, Inc. (URBN), Camping World Holdings Inc (CWH) and Paychex, Inc. (PAYX) were downgraded.

International Markets

Stocks in Asia are mixed. The Mumbai Sensex is up 0.96%, the Hang Seng is up 0.89%, the Shanghai SE Composite Index is up 0.25% the Nikkei 225 is down -1.21% and the Australia ASX All Ordinaries is down -2.8%. Stocks in Europe are down. The FTSE 100 is down -1.14%, the DAX is down -0.78%, the CAC 40 is down -0.37% and the Euro Stoxx 50 is down -0.36%.

Futures and Currencies

Energy futures are down today. The price for West Texas Intermediate crude oil is down -0.67 at 54.56 per barrel. Brent crude is down -1.03 at 58.45 per barrel. Natural Gas is down -0.03 at 2.16. Precious metals are down this morning. Gold is down -2.44 at 1513.92 per ounce. Platinum is down -6.5 at 839.02 while silver is down -0.12 at 17.16. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, up against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 1,022,609 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 858,059 put contracts. The single-session put/call was 0.84 while the 20-day moving average is now at 0.71.

Earnings Expected Today

Already a member?

Login to see your daily Morning Action trade idea.

Morning Action Trades

Receive a Morning Action trade idea every market day right here in the Morning Update. Also get our Stocks to Watch newsletter every Saturday with trade ideas.

Become A Member

  • Last Price:
  • Previous Close:
  • Day's Range:
    $300.71 - $302.63
  • 52-week Range:
    $302.46 - $233.76
  • Last Price:
  • Previous Close:
  • Day's Range:
    $271.13 - $273.20
  • 52-week Range:
    $273.99 - $216.97
  • Last Price:
  • Previous Close:
  • Day's Range:
    $192.47 - $194.04
  • 52-week Range:
    $195.55 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
Initial Claims 08/10 08:30
Continuing Claims 08/03 08:30
Retail Sales Jul 08:30
Empire State Manufacturing Aug 08:30
Philadelphia Fed Index Aug 08:30
Productivity - Prelim. Q2 08:30
Unit Labor Costs - Prelim. Q2 08:30
Industrial Production Jul 09:15
Capacity Utilization Jul 09:15
Business Inventories Jun 10:00
EIA Natural Gas Inventories 08/10 10:30
Net Long-Term TIC Flows Jun 10:30

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.