First Look
Futures are pointed lower Thursday morning. The Bank of England raised rates 75 basis points for the central bank's biggest rate hike in 33 years. China reaffirmed its zero-COVID stance, crushing rumors from unverified social media posts that the country was changing their stance and nearing a reopening. Meanwhile, initial unemployment claims in the U.S. are projected to rise slightly from 217,000 to 222,000 claims. Shares of Lincoln National (LNC) are down 25.24% this morning as Morgan Stanley downgraded the stock to an equal weight rating following its earnings miss with a significant charge coming primarily from policyholder lapsation behavior in their guaranteed universal life insurance block. The Dow Jones is down -0.53%, the S&P is down -0.79%, the Nasdaq is down -1.06%.
Today's Sentiment
BearishQuote of the Day
Nothing stands still. The real question is can you change it?
Jamie Zawinski
Daily Action Trade
Stocks on the Move
Higher
Lower
Upgrades & Downgrades
Upgrades
Downgrades
International Markets
Stocks in Asia are down. The Hang Seng is down -3.08%, the Australia ASX All Ordinaries is down -1.77%, the Shanghai SE Composite Index is down -0.19% the Mumbai Sensex is down -0.11% and the Nikkei 225 is down -0.06%.Stocks in Europe are down. The DAX is down -1.25%, the Euro Stoxx 50 is down -1.18%, the CAC 40 is down -0.92% and the FTSE 100 is down -0.81%.
Futures & Currencies
Energy futures are down today. The price for West Texas Intermediate crude oil is down -1.24 at 88.76 per barrel. Brent crude is down -1.11 at 95.05 per barrel. Natural Gas is down -0.24 at 6.03. Precious metals are down this morning. Gold is down -15.33 at 1619.91 per ounce. Platinum is down -16.66 at 9221 while silver is down -0.73 at 18.86. The dollar is up compared to the major currencies today. The greenback is up against the euro, up against the Yen and up against the Pound. Bitcoin is down -1.38% to $20,139.14 while Ethereum is down -1.29% to $1,534.23.
Put/Call Ratio
Yesterday, 1,932,292 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 2,337,767 put contracts. The single-session put/call ratio was 1.21.
Today's Economic Calendar
| No. | What's Happening? | Period | Release Time |
|---|---|---|---|
| 1 | Continuing Claims | 10/22 | 08:30 ET |
| 2 | Initial Claims | 10/29 | 08:30 ET |
| 3 | ISM Non-Manufacturing Index | Oct | 10:00 ET |
