Stocks Rise in the Pre-Market

First Look

Stocks are higher before the bell Wednesday morning. President Trump reiterated in a tweet Tuesday that the U.S. is “doing very well in our negotiations with China”. Trump added that negotiations would get “MUCH TOUGHER” if he is re-elected for a second term, possibly suggesting that China should make a deal ahead of the 2020 election. British Prime Minister Boris Johnson proposed a snap general election after Parliament voted in favor of initial steps that could block a no-deal split from the European Union and force the prime minister to delay Brexit until January 31. Hong Kong’s leader, Carrie Lam, formally withdrew extradition legislation that sparked months of violent protests in the city. The Nasdaq is up 1.09%, the S&P 500 is up 0.87%, the Dow Jones is up 0.83%.

Today's market outlook is Neutral

All great empires die from within.
Terry Bradshaw

Stocks on the Move

Wynn Resorts, Limited (WYNN), Micron Technology, Inc. (MU) and Activision Blizzard, Inc. (ATVI) are moving higher this morning, while Tyson Foods, Inc. (TSN), Newmont Goldcorp Corp (NEM) and Kimco Realty Corp (KIM) are headed lower. Tripadvisor Inc Common Stock (TRIP), Campbell Soup Company (CPB) and Activision Blizzard, Inc. (ATVI) were upgraded by analysts this morning, while eBay Inc (EBAY), G-III Apparel Group, Ltd. (GIII) and Kimco Realty Corp (KIM) were downgraded.

International Markets

Stocks in Asia are mixed. The Hang Seng is up 3.9%, the Shanghai SE Composite Index is up 0.93%, the Mumbai Sensex is up 0.44% the Nikkei 225 is up 0.12% and the Australia ASX All Ordinaries is down -0.26%. In Europe stocks are up. The CAC 40 is up 1.19%, the DAX is up 1.16%, the Euro Stoxx 50 is up 0.99% and the FTSE 100 is up 0.41%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.86 at 54.8 per barrel. Brent crude is up 0.73 at 58.98 per barrel. Natural Gas is up 0.01 at 2.36. Precious metals are mixed this morning. Gold is down -9.83 at 1537.27 per ounce. Platinum is up 16.05 at 974.51 while silver is up 0.19 at 19.43. 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, 694,019 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 508,049 put contracts. The single-session put/call was 0.73 while the 20-day moving average is now at 0.71.

Earnings Expected Today

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  • Last Price:
    $301.07
  • Previous Close:
    $301.10
  • Day's Range:
    $300.71 - $302.63
  • 52-week Range:
    $302.46 - $233.76
  • Last Price:
    $271.42
  • Previous Close:
    $271.97
  • Day's Range:
    $271.13 - $273.20
  • 52-week Range:
    $273.99 - $216.97
  • Last Price:
    $192.84
  • Previous Close:
    $192.52
  • Day's Range:
    $192.47 - $194.04
  • 52-week Range:
    $195.55 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
MBA Mortgage Applications Index 08/31 07:00
Trade Balance Jul 08:30
Fed Beige Book Sep 14:00

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