Stocks Rise on Additional Trade Optimism

First Look

Major indices are higher before the bell Friday morning. White House officials are considering an interim trade deal with China, where the U.S. would lessen tariffs already imposed on Chinese goods and delay additional tariffs in exchange for commitments from China on intellectual property protections and agreements to purchase additional U.S. farm products. The deal would not be a final resolution to the lingering trade war, but a temporary agreement aimed to avoid additional tariffs during the upcoming holiday season that would affect a wide range of consumer products. The Dow Jones is up 0.39%, the S&P 500 is up 0.31%, the Nasdaq is up 0.29%.

Today's market outlook is Neutral

Every bad situation is a blues song waiting to happen.
Amy Winehouse

Stocks on the Move

Wynn Resorts, Limited (WYNN), Target Corporation (TGT) and Netflix Inc (NFLX) are moving higher this morning, while Broadcom Inc (AVGO), O’Reilly Automotive Inc (ORLY) and Apple Inc. (AAPL) are headed lower. Advance Auto Parts, Inc. (AAP), Pearson PLC (PSO) and Dana Inc (DAN) were upgraded by analysts this morning, while Tocagen Inc (TOCA), O’Reilly Automotive Inc (ORLY) and Cboe Global Markets Inc (CBOE) were downgraded.

International Markets

Stocks in Asia are up. The Nikkei 225 is up 1.05%, the Hang Seng is up 0.83%, the Mumbai Sensex is up 0.76% the Shanghai SE Composite Index is up 0.75% and the Australia ASX All Ordinaries is up 0.17%. In Europe stocks are mixed. The DAX is up 0.57%, the CAC 40 is up 0.34%, the Euro Stoxx 50 is up 0.33% and the FTSE 100 is down -0.02%.

Futures and Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.05 at 55.14 per barrel. Brent crude is down -0.02 at 60.36 per barrel. Natural Gas is down -0.01 at 2.56. Precious metals are up this morning. Gold is up 7.69 at 1506.95 per ounce. Platinum is up 7.79 at 959.21 while silver is up 0.07 at 18.25. The dollar is down compared to the major currencies today. The greenback is down against the euro, down against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 1,103,457 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 610,116 put contracts. The single-session put/call was 0.55 while the 20-day moving average is now at 0.66.

Earnings Expected Today

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Today's Economic Calendar

What's Happening Period Release Time
Retail Sales Aug 08:30
Import Prices Aug 08:30
Export Prices Aug 08:30
Business Inventories Jul 10:00
Univ. of Michigan Consumer Sentiment - Prelim Sep 10:00

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