Markets Point Higher as Vaccine Trials Show Promise

First Look

U.S. stocks are pointed higher ahead of Wednesday's opening bell as optimism about a couple of vaccine trials helped boost investor sentiment. Vaccines from Moderna (MRNA) and AstraZeneca (AZN) are both reportedly showing positive signs in clinical trials. Goldman Sachs (GS) reported better-than-expected quarterly earnings this morning as trading and underwriting revenues jumped. The Dow Jones is up 1.89%, the S&P is up 1.35%, the Nasdaq is up 0.61%.

Today's Sentiment

Quote of the Day

Between saying and doing, many a pair of shoes is worn out.
Iris Murdoch

Stocks on the Move

Carnival Corp (CCL), Norwegian Cruise Line Holdings Ltd (NCLH) and Royal Caribbean Cruises Ltd (RCL) are moving higher this morning, while Bank of New York Mellon Corp (BK), Centurylink Inc (CTL) and Public Storage (PSA) are headed lower. Williams Companies Inc (WMB), Vipshop Holdings Ltd - ADR (VIPS) and TC PIPELINES LP Common Stock (TRP) were upgraded by analysts this morning, while Verrica Pharmaceuticals Inc (VRCA), TransDigm Group Incorporated (TDG) and Woodward, Inc.Common Stock (WWD) were downgraded.

International Markets

Stocks in Asia are mixed. The Australia ASX All Ordinaries is up 1.9%, the Nikkei 225 is up 1.59%, the Mumbai Sensex is up 0.05% the Hang Seng is down -0.03% and the Shanghai SE Composite Index is down -1.56%. In Europe stocks are up. The CAC 40 is up 2.47%, the FTSE 100 is up 2.01%, the Euro Stoxx 50 is up 1.99% and the DAX is up 1.81%.

Futures & Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.57 at 40.86 per barrel. Brent crude is up 0.46 at 43.36 per barrel. Natural Gas is flat 0 at 1.75. Precious metals are mixed this morning. Gold is down -3.35 at 1806.01 per ounce. Platinum is up 8.12 at 837.43 while silver is up 0.2 at 19.73. 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, 1,568,445 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 673,955 put contracts. The single-session put/call ratio was 0.43.

Today's Economic Calendar

Earnings Expected Today