Market Slightly Higher Wednesday

First Look

Major equity indices in the U.S. are a few ticks above break even Wednesday morning. FedEx Corp. (FDX) is down sharply this morning. The company released a lowered profit forecast for the second quarter in a row after the closing bell Tuesday. The Nasdaq is up 0.07%, the Nasdaq is up 0.07%, the S&P 500 is up 0.05%.

Today's Sentiment

Quote of the Day

Avoid having your ego so close to your position that when your position falls, your ego goes with it.
Colin Powell

Stocks on the Move

Kellogg Company (K), Newmont Goldcorp Corp (NEM) and General Mills, Inc. (GIS) are moving higher this morning, while FedEx Corporation (FDX), United Parcel Service, Inc. (UPS) and Philip Morris International Inc. (PM) are headed lower. Advanced Drainage Systems Inc (WMS), Delta Air Lines, Inc. (DAL) and AvalonBay Communities Inc (AVB) were upgraded by analysts this morning, while AMC Entertainment Holdings Inc (AMC), FedEx Corporation (FDX) and Halliburton Company (HAL) were downgraded.

International Markets

Stocks in Asia are mixed. The Mumbai Sensex is up 0.5%, the Australia ASX All Ordinaries is up 0.09%, the Hang Seng is flat 0% the Shanghai SE Composite Index is down -0.18% and the Nikkei 225 is down -0.55%. In Europe stocks are mixed. The FTSE 100 is up 0.1%, the Euro Stoxx 50 is up 0.07%, the CAC 40 is up 0.03% and the DAX is down -0.27%.

Futures & Currencies

Energy futures are down today. The price for West Texas Intermediate crude oil is down -0.29 at 60.65 per barrel. Brent crude is down -0.13 at 65.97 per barrel. Natural Gas is down -0.04 at 2.28. Precious metals are mixed this morning. Gold is down -0.12 at 1476.1 per ounce. Platinum is up 0.26 at 928.54 while silver is down -0.02 at 17.05. 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.

Put/Call Ratio

Yesterday, 1,045,818 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 552,848 put contracts. The single-session put/call was 0.53.

Today's Economic Calendar

Earnings Expected Today