First Look
Stocks in the U.S. are pointed higher Wednesday morning. Oil and the pound are both lower this morning. Crude due to concerns that the global supply glut won't be cleared away at the current level of OPEC production cuts. The pound is lower after a new round of polling shows that British Prime Minsiter Theresa May's Conservative Party's lead seems to have evaporated ahead of next week's elections. The Nasdaq is up 0.33%, the S&P 500 is up 0.18%, the Dow Jones is up 0.14%.
Today's Sentiment
NeutralQuote of the Day
Serendipity is not the product of patience; it’s the product of action."
Audrey Moralez
Daily Action Trade
Stocks on the Move
Analog Devices, Inc. (ADI), NVIDIA Corporation (NVDA) and Micron Technology, Inc. (MU) are moving higher this morning, while Cabot Oil & Gas Corporation (COG), Anadarko Petroleum Corporation (APC) and ConocoPhillips (COP) are headed lower. Atwood Oceanics, Inc. (ATW), Potbelly Corp (PBPB) and VMware, Inc. (VMW) were upgraded by analysts this morning, while Molina Healthcare, Inc. (MOH), ING Groep NV (ADR) (ING) and Zebra Technologies Corp. (ZBRA) were downgraded.
International Markets
Stocks in Asia are mixed. The Shanghai SE Composite Index is up 0.23%, the Australia ASX All Ordinaries is up 0.01%, the Hang Seng is down -0.1% the Nikkei 225 is down -0.14% and the Mumbai Sensex is down -0.4%.In Europe stocks are mixed. The FTSE 100 is up 0.7%, the DAX is up 0.43%, the Euronext 100 is up 0.08% and the CAC 40 is down -0.02%.
Futures & Currencies
Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.99 at 48.67 per barrel. Brent crude is down -1.23 at 50.61 per barrel. Natural Gas is up 0.02 at 3.17. Precious metals are mixed this morning. Gold is up 3.65 at 1266.74 per ounce. Platinum is up 8.24 at 947.33 while silver is down -0.06 at 17.37. 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, 772,623 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 526,611 put contracts. The single-session put/call was 0.68 while the 20-day moving average is now at 0.63.
Today's Economic Calendar
| No. | What's Happening? | Period | Release Time |
|---|---|---|---|
| 1 | MBA Mortgage Applications Index | 05/27 | 07:00 |
| 2 | Chicago PMI | May | 09:45 |
| 3 | Pending Home Sales | Apr | 10:00 |
| 4 | Fed's Beige Book | May | 14:00 |
