First Look
Futures are rebounding Wednesday morning. Housing Starts for the month of December are expected to decline to an annualized rate of 1.65 million following November's showing of 1.679 million. Meanwhile, Building Permits are expected to edge lower to an annualized rate of 1.702 million from 1.712 million in November. Meanwhile, Bank of America (BAC) is up 3% in pre-market trading after its earnings report showed average loan balances increase 1% year-over-year in the fourth quarter as consumer loans and businesses start taking on debt again. Lastly, Bakkt Holdings (BKKT), a digital asset platform, is up 9% after being selected by Nexo to securely custody Bitcoin and Ethereum. The Nasdaq is up 0.61%, the S&P is up 0.37%, the Dow Jones is up 0.23%.
Today's Sentiment
BearishQuote of the Day
Power is the by-product of understanding.
Jacob Bronowski
Daily Action Trade
Stocks on the Move
Higher
Lower
Upgrades & Downgrades
Upgrades
Downgrades
Losers
International Markets
Stocks in Asia are mixed. The Hang Seng is up 0.06%, the Shanghai SE Composite Index is down -0.33%, the Australia ASX All Ordinaries is down -1.02% the Mumbai Sensex is down -1.08% and the Nikkei 225 is down -2.8%. In Europe stocks are up. The CAC 40 is up 0.65%, the Euro Stoxx 50 is up 0.64%, the FTSE 100 is up 0.49% and the DAX is up 0.45%.
Futures & Currencies
Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.67 at 86.1 per barrel. Brent crude is up 0.49 at 88 per barrel. Natural Gas is down -0.06 at 4.22. Precious metals are up this morning. Gold is up 5.81 at 1819.55 per ounce. Platinum is up 19.08 at 1004.32 while silver is up 0.36 at 23.85. 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. Bitcoin is up 0.68% to $42,112.84 while Ethereum is down -1.31% to $3,121.85.
Put/Call Ratio
Yesterday, 1,504,553 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 785,836 put contracts. The single-session put/call ratio was 0.52.
Today's Economic Calendar
| No. | What's Happening? | Period | Release Time |
|---|---|---|---|
| 1 | Building Permits | Dec | 08:30 ET |
| 2 | Housing Starts | Dec | 08:30 ET |
| 3 | EIA Crude Oil Inventories | 01/15 | 10:30 ET |
