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Markets Up as Reopenings Continue

Tuesday, May 26, 2020 08:26 AM | Nick Dey

First Look

U.S. stocks are pointed higher ahead of Tuesday's opening bell. Economies around the world continue to move toward re-opening with Japan ending a state of emergency. Germany may be lifting travel warnings soon, while Britain is moving towards letting retailers reopen.  The Dow Jones is up 2.12%, the S&P is up 1.9%, the Nasdaq is up 1.61%.

Today's Sentiment

Neutral

Quote of the Day

The trouble with opportunity is that it always comes disguised as hard work.
Herbert V. Prochnow

Daily Action Trade

Stocks on the Move

Core Molding Technologies, Inc. (CMT), Kraton Corp (KRA) and Ampco-Pittsburgh Corp (AP) are moving higher this morning, while LSB Industries, Inc. (LXU), SunCoke Energy Inc (SXC) and China Green Agriculture, Inc (CGA) are headed lower. LyondellBasell Industries NV (LYB), Goldman Sachs Group Inc (GS) and FirstService Corp (FSV) were upgraded by analysts this morning, while Halliburton Company (HAL), Pinduoduo Inc - ADR (PDD) and Scotts Miracle-Gro Co (SMG) were downgraded.

International Markets

Stocks in Asia are mixed. The Australia ASX All Ordinaries is up 2.79%, the Nikkei 225 is up 2.55%, the Hang Seng is up 1.96% the Shanghai SE Composite Index is up 1.01% and the Mumbai Sensex is down -0.21%. In Europe stocks are up. The FTSE 100 is up 1.06%, the CAC 40 is up 1.01%, the DAX is up 0.71% and the Euro Stoxx 50 is up 0.49%.

Futures & Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.78 at 34.03 per barrel. Brent crude is up 1.49 at 36.06 per barrel. Natural Gas is up 0.02 at 1.75. Precious metals are mixed this morning. Gold is down -5.5 at 1726.45 per ounce. Platinum is down -9.5 at 839.95 while silver is up 0.08 at 17.77. 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, 1,465,629 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 829,082 put contracts. The single-session put/call was 0.57.

Today's Economic Calendar

No. What's Happening? Period Release Time
1 Consumer Confidence May 10:00
2 New Home Sales Apr 9:00

Earnings Expected Today

AZO, BAH, BNS, HEI, KEYS

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