First Look
Markets are down ahead of the opening bell Thursday morning. The Nasdaq is slightly higher in the pre-market after Apple (AAPL) and Facebook (FB) reported quarterly earnings that topped analysts' expectations. The Federal Reserve cut interest rates by a quarter-point Wednesday. Fed Chairman Jerome Powell said in a news conference that monetary policy is "appropriate", casting doubts about the likelihood of further cuts. Also casting doubts, are Chinese officials, who are reportedly increasingly skeptical about the possibilities of a long-term, comprehensive trade deal with the U.S. Both sides seem to still be working toward the so-called Phase One agreement, but Chile yesterday canceled the summit where that deal was supposed to be signed. The Nasdaq is down -0.22%, the Dow Jones is down -0.3%, the S&P 500 is down -0.33%.
Today's Sentiment
NeutralQuote of the Day
What the imagination seizes as beauty must be truth.
John Keats
Daily Action Trade
Stocks on the Move
ABIOMED, Inc. (ABMD), CDW common stock (CDW) and Facebook, Inc. Common Stock (FB) are moving higher this morning, while Hanesbrands Inc. (HBI), Western Digital Corp (WDC) and Estee Lauder Companies Inc (EL) are headed lower. LYFT Inc (LYFT), Lowe's Companies, Inc. (LOW) and Brinker International, Inc. (EAT) were upgraded by analysts this morning, while Twilio Inc (TWLO), U.S. Silica Holdings Inc (SLCA) and Oshkosh Corp (OSK) were downgraded.
International Markets
Stocks in Asia are mixed. The Hang Seng is up 0.9%, the Nikkei 225 is up 0.37%, the Mumbai Sensex is up 0.19% the Australia ASX All Ordinaries is down -0.32% and the Shanghai SE Composite Index is down -0.35%. Stocks in Europe are down. The FTSE 100 is down -1.05%, the CAC 40 is down -0.41%, the Euro Stoxx 50 is down -0.28% and the DAX is down -0.25%.
Futures & Currencies
Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.73 at 54.33 per barrel. Brent crude is down -0.25 at 60.36 per barrel. Natural Gas is up 0.04 at 2.73. Precious metals are up this morning. Gold is up 9.85 at 1505.51 per ounce. Platinum is up 3.33 at 928.8 while silver is up 0.13 at 18. 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, 968,232 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 658,040 put contracts. The single-session put/call was 0.68 while the 20-day moving average is now at 0.67.
Today's Economic Calendar
| No. | What's Happening? | Period | Release Time |
|---|---|---|---|
| 1 | Initial Claims | 10/26 | 08:30 |
| 2 | Continuing Claims | 10/19 | 08:30 |
| 3 | Employment Cost Index | Q3 | 08:30 |
| 4 | Personal Income | Sep | 08:30 |
| 5 | Personal Spending | Sep | 08:30 |
| 6 | PCE Price Index | Sep | 08:30 |
| 7 | Chicago PMI | Oct | 09:45 |
| 8 | EIA Natural Gas Inventories | 10/26 | 10:30 |
