First Look
Major indices are relatively unchanged Wednesday morning. The Nasdaq is modestly higher in premarket trading. British Prime Minister Boris Johnson won passage Tuesday of his call for a general election to be held on December 12. Investors will be awaiting the Federal Reserve's update on monetary policy, with most expecting the central bank to lower interest rates. Fed Chairman Jerome Powell will hold a press conference after the announcement. The Nasdaq is up 0.15%, the S&P 500 is up 0.03%, the Dow Jones is down -0.01%.
Today's Sentiment
NeutralQuote of the Day
Liberty cannot be preserved without general knowledge among the people.
John Adams
Daily Action Trade
Stocks on the Move
Garmin Ltd. (GRMN), Centene Corp (CNC) and General Electric Company (GE) are moving higher this morning, while Yum! Brands, Inc. (YUM), C.H. Robinson Worldwide Inc (CHRW) and Stryker Corporation (SYK) are headed lower. Advanced Micro Devices, Inc. (AMD), Analog Devices, Inc. (ADI) and Biogen Inc (BIIB) were upgraded by analysts this morning, while GrubHub Inc (GRUB), C.H. Robinson Worldwide Inc (CHRW) and Reliance Steel & Aluminum Co (RS) were downgraded.
International Markets
Stocks in Asia are mixed. The Mumbai Sensex is up 0.55%, the Hang Seng is down -0.44%, the Shanghai SE Composite Index is down -0.51% the Nikkei 225 is down -0.57% and the Australia ASX All Ordinaries is down -0.79%. In Europe stocks are mixed. The CAC 40 is up 0.24%, the FTSE 100 is up 0.06%, the Euro Stoxx 50 is down -0.16% and the DAX is down -0.18%.
Futures & Currencies
Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.07 at 55.61 per barrel. Brent crude is up 0.2 at 61.79 per barrel. Natural Gas is up 0.03 at 2.67. Precious metals are up this morning. Gold is up 5.4 at 1496.1 per ounce. Platinum is up 2.01 at 922.96 while silver is up 0.1 at 17.93. 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, 851,323 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 477,486 put contracts. The single-session put/call was 0.56 while the 20-day moving average is now at 0.67.
Today's Economic Calendar
| No. | What's Happening? | Period | Release Time |
|---|---|---|---|
| 1 | MBA Mortgage Applications Index | 10/26 | 07:00 |
| 2 | ADP Employment Change | Oct | 08:15 |
| 3 | GDP - Adv. | Q3 | 08:30 |
| 4 | EIA Crude Oil Inventories | 10/26 | 10:30 |
| 5 | FOMC Rate Decision | Oct | 14:00 |
