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Mixed Earnings Reports Send Stocks in Different Directions

Wednesday, January 15, 2020 08:48 AM | Bobby Raines

First Look

Major stock indices are mixed ahead of Wednesday's opening bell. Bank earnings out this morning went in opposite directions with Bank of America (BAC) impressing, while results from Goldman Sachs (GS) fell short of expectations. Retailer Target (TGT) is also down sharply this morning after reporting holiday sales figures that were lower than expected. The Nasdaq is up 0.05%, the S&P 500 is down -0.05%, the Dow Jones is down -0.1%.

Today's Sentiment

Neutral

Quote of the Day

Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence.
Helen Keller

Daily Action Trade

Stocks on the Move

Garmin Ltd. (GRMN), Fortinet Inc (FTNT) and C.H. Robinson Worldwide Inc (CHRW) are moving higher this morning, while Target Corporation (TGT), Best Buy Co Inc (BBY) and First Republic Bank (FRC) are headed lower. Coca-Cola European Partners PLC (CCEP), AvalonBay Communities Inc (AVB) and Federal Realty Investment Trust (FRT) were upgraded by analysts this morning, while Wells Fargo & Co (WFC), Beyond Meat Inc (BYND) and Spirit AeroSystems Holdings, Inc. (SPR) were downgraded.

International Markets

Stocks in Asia are mixed. The Australia ASX All Ordinaries is up 0.5%, the Mumbai Sensex is down -0.19%, the Hang Seng is down -0.39% the Nikkei 225 is down -0.45% and the Shanghai SE Composite Index is down -0.54%. In Europe stocks are mixed. The FTSE 100 is up 0.14%, the DAX is down -0.16%, the CAC 40 is down -0.18% and the Euro Stoxx 50 is down -0.2%.

Futures & Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is flat 0 at 58.23 per barrel. Brent crude is down -0.07 at 64.42 per barrel. Natural Gas is down -1.42 at -0.03. Precious metals are up this morning. Gold is up 3.83 at 1550.22 per ounce. Platinum is up 22.11 at 1006.43 while silver is up 0.07 at 17.81. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, down against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 1,506,109 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 705,510 put contracts. The single-session put/call was 0.47.

Today's Economic Calendar

No. What's Happening? Period Release Time
1 MBA Mortgage Application Index 1/11 7:00
2 PPI Dec 8:30
3 Core PPI Dec 8:30
4 Empire State Manufacturing Jan 8:30
5 EIA Crude Oil Inventories 1/11 10:30

Earnings Expected Today

ACN, DIA, EWY, FDN, MCHI, MDY, NKE, SPY, TAN, XLK

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