First Look
Major indices are up in the pre-market Wednesday morning. Markets rose following the closing bell Tuesday when Apple (AAPL) released quarterly earnings, posting beats on earnings per share and revenue coming in-line with estimates. Apple issued forward guidance below expectations but showed that the company is doing well despite a decline in new iPhone sales. U.S. Treasury Secretary Steven Mnuchin is scheduled to begin talks with Chinese officials today, saying everything is on the table and that there is a chance the administration may lift all tariffs if China is able to present enough trade concessions to President Trump. If a deal is unable to be reached by Mar. 1, an additional tariff on $200 billion in Chinese goods can be raised from 10% to 25%. Federal Reserve Chairman Jerome Powell is scheduled to talk later today on the central bank's latest decision. Economists expect rates to go unchanged, with Powell to again emphasize "patience" in raising rates. The Dow Jones is up 0.95%, the Nasdaq is up 0.93%, the S&P 500 is up 0.45%.
Today's Sentiment
NeutralQuote of the Day
There are many ways of going forward, but only one way of standing still.
Franklin D. Roosevelt
Daily Action Trade
Stocks on the Move
Advanced Micro Devices, Inc. (AMD), Anthem Inc (ANTM) and Boeing Co (BA) are moving higher this morning, while Juniper Networks, Inc. (JNPR), Align Technology, Inc. (ALGN) and Biogen Inc (BIIB) are headed lower. Synchrony Financial (SYF), Alliant Energy Corporation (LNT) and Plug Power Inc (PLUG) were upgraded by analysts this morning, while Whirlpool Corporation (WHR), AK Steel Holding Corporation (AKS) and Juniper Networks, Inc. (JNPR) were downgraded.
International Markets
Stocks in Asia are mixed. The Hang Seng is up 0.4%, the Australia ASX All Ordinaries is up 0.2%, the Mumbai Sensex is flat 0% the Nikkei 225 is down -0.52% and the Shanghai SE Composite Index is down -0.72%. In Europe stocks are mixed. The CAC 40 is up 0.7%, the FTSE 100 is up 0.37%, the Euro Stoxx 50 is up 0.11% and the DAX is down -0.28%.
Futures & Currencies
Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.53 at 53.84 per barrel. Brent crude is up 0.53 at 61.85 per barrel. Natural Gas is down -0.04 at 2.86. Precious metals are up this morning. Gold is up 0.07 at 1311.86 per ounce. Platinum is up 3.15 at 817.35 while silver is up 0.07 at 15.91. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, up against the Yen and down against the Pound.
Put/Call Ratio
Yesterday, 850,592 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 575,534 put contracts. The single-session put/call was 0.68 while the 20-day moving average is now at 0.64.
Today's Economic Calendar
| No. | What's Happening? | Period | Release Time |
|---|---|---|---|
| 1 | MBA Mortgage Applications Index | 01/26 | 07:00 |
| 2 | ADP Employment Change | Jan | 08:15 |
| 3 | Pending Home Sales | Dec | 08:30 |
| 4 | EIA Crude Oil Inventories | 01/26 | 10:30 |
| 5 | FOMC Rate Decision | Jan | 14:00 |
