Stocks Rise in the Pre-Market

First Look

Stocks are higher before the morning bell Wednesday. Bloomberg is reporting that the White House is moving forward with plans to restrict capital flows to China. This comes on the heels of moves yesterday to ban travel to the U.S. by certain officials linked to the oppression of Muslims in the Xinjiang province. The U.S. also added eight companies to a blacklist, also related to treatment of Muslims in Xinjiang. These moves come ahead of high-level trade talks scheduled for tomorrow. Chinese media is reporting that the country is willing to make a limited deal, but President Trump has insisted that he wants a deal that covers all the issues between the countries. Traders will be scouring the minutes of last month’s Federal Reserve meeting for more hints about the path of monetary policy. The Nasdaq is up 1.03%, the S&P 500 is up 0.93%, the Dow Jones is up 0.81%.

Today's market outlook is Neutral

Time you enjoy wasting, was not wasted.
John Lennon

Stocks on the Move

Occidental Petroleum Corporation (OXY), ConocoPhillips (COP) and Advanced Micro Devices, Inc. (AMD) are moving higher this morning, while Johnson & Johnson (JNJ), Paypal Holdings Inc (PYPL) and Activision Blizzard, Inc. (ATVI) are headed lower. Roku Inc (ROKU), Chipotle Mexican Grill, Inc. (CMG) and Sleep Number Corp (SNBR) were upgraded by analysts this morning, while Domino’s Pizza, Inc. (DPZ), James River Group Holdings Ltd (JRVR) and FedEx Corporation (FDX) were downgraded.

International Markets

Stocks in Asia are mixed. The Mumbai Sensex is up 1.72%, the Shanghai SE Composite Index is up 0.39%, the Nikkei 225 is down -0.61% the Australia ASX All Ordinaries is down -0.71% and the Hang Seng is down -0.81%. In Europe stocks are up. The DAX is up 1.26%, the Euro Stoxx 50 is up 0.96%, the CAC 40 is up 0.89% and the FTSE 100 is up 0.66%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.55 at 53.18 per barrel. Brent crude is up 0.66 at 58.91 per barrel. Natural Gas is up 0.03 at 2.28. Precious metals are mixed this morning. Gold is down -0.21 at 1505.31 per ounce. Platinum is down -1.64 at 888.38 while silver is up 0.14 at 17.84. 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, 916,877 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 598,296 put contracts. The single-session put/call was 0.65 while the 20-day moving average is now at 0.67.

Earnings Expected Today

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    $296.14 - $298.74
  • 52-week Range:
    $302.63 - $233.76
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    $267.62 - $270.14
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    $190.72 - $192.63
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Today's Economic Calendar

What's Happening Period Release Time
MBA Mortgage Applications Index 10/05 07:00
Wholesale Inventories Aug 10:00
JOLTS - Job Openings Aug 10:00
EIA Crude Oil Inventories 10/05 10:30
FOMC Minutes Sep 14:00

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