Futures Point Higher Tuesday; Consumer Confidence Expected to Fall

First Look

Stock futures point higher Tuesday morning. Beijing took steps towards reopening despite record cases and its covid zero policy after it pledged to bolster vaccination among senior citizens. Consumer Confidence is expected to fall for the third straight month to a reading of 100.0 from 102.5. Railroad-related stocks are higher today after President Biden pushed for Congress to pass legislation immediately to adopt a tentative agreement between railroad workers and operators to help block a strike. Lastly, Microchip (MCHP) is up 3.17% in pre-market after topping estimates and reaffirming third-quarter revenue guidance. The Nasdaq is up 0.49%, the S&P is up 0.3%, the Dow Jones is up 0.08%.

Today's Sentiment

Quote of the Day

If you look at the big picture, you start losing your focus on the little things.
Julius Randle

Stocks on the Move

International Markets

Stocks in Asia are mixed. The Hang Seng is up 5.24%, the Shanghai SE Composite Index is up 2.31%, the Australia ASX All Ordinaries is up 0.32% the Mumbai Sensex is up 0.28% and the Nikkei 225 is down -0.48%. In Europe stocks are up. The FTSE 100 is up 0.76%, the CAC 40 is up 0.27%, the Euro Stoxx 50 is up 0.22% and the DAX is up 0.19%.

Futures & Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 1.7 at 78.94 per barrel. Brent crude is up 2.24 at 85.43 per barrel. Natural Gas is up 0.13 at 7.32. Precious metals are up this morning. Gold is up 15.08 at 1756.44 per ounce. Platinum is up 9.9 at 1002.72 while silver is up 0.35 at 21.47. 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 1.73% to $16,473.23 while Ethereum is up 3.62% to $1,212.77.

Put/Call Ratio

Yesterday, 1,217,466 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 929,604 put contracts. The single-session put/call ratio was 0.76.

Today's Economic Calendar

Earnings Expected Today