Markets, Trade Picture Mixed Friday Morning

Friday, November 8, 2019 8:37 AM | Brad Spears

First Look

Markets are mixed ahead of the bell Friday morning. While the U.S. and China have reportedly agreed to roll back existing tariffs equally and simultaneously as part of a phase-one deal, White House economic adviser Larry Kudlow said that concessions would also have to be made. The is also still opposition to the easing of duties among White House officials, led by trade advisor Peter Navarro. The Dow Jones is flat 0%, the S&P 500 is down -0.1%, the Nasdaq is down -0.16%.

Today's Market Outlook

Neutral

Quote of the Day

Absence of evidence is not evidence of absence.
Carl Sagan

Stocks on the Move

Walt Disney Co (DIS), Booking Holdings Inc (BKNG) and Molson Coors Brewing Co Class B (TAP) are moving higher this morning, while Gap Inc (GPS), Activision Blizzard, Inc. (ATVI) and Exxon Mobil Corporation (XOM) are headed lower. Mcdonald's Corp (MCD), Foot Locker, Inc. (FL) and World Wrestling Entertainment, Inc. (WWE) were upgraded by analysts this morning, while Teradata Corporation (TDC), Ra Pharmaceuticals Inc (RARX) and Expedia Group Inc (EXPE) were downgraded.

International Markets

Stocks in Asia are down. The Mumbai Sensex is down -0.81%, the Hang Seng is down -0.7%, the Shanghai SE Composite Index is down -0.49% the Australia ASX All Ordinaries is down -0.05% and the Nikkei 225 is up 0.26%.Stocks in Europe are down. The FTSE 100 is down -0.29%, the DAX is down -0.19%, the CAC 40 is down -0.16% and the Euro Stoxx 50 is down -0.09%.

Futures & Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.85 at 56.3 per barrel. Brent crude is down -0.95 at 61.34 per barrel. Natural Gas is up 0.01 at 2.8. Precious metals are down this morning. Gold is down -8.56 at 1459.92 per ounce. Platinum is down -16.95 at 892.85 while silver is down -0.23 at 16.77. 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, 2,044,205 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 1,199,042 put contracts. The single-session put/call was 0.59 while the 20-day moving average is now at 0.67.

Today's Economic Calendar

No. What's Happening? Period Release Time
1 Univ. of Michigan Consumer Sentiment - Prelim. Nov 10:00
2 Wholesale Inventories Sep 10:00

Earnings Expected Today

AEE, AER, BRFS, CLNY, DUK, ENB, ESNT, HMC, MGA, MSG, STWD, SVC

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