First Look
Stocks are headed lower before the opening bell Tuesday. The long-lasting optimism on trade talks with China seems to be fading. After announcing late Sunday that he will extend the March 1 tariff deadline, President Trump announced plans for a ‘signing summit’, and added that the two sides are close to a deal. Trump also said a deal might not happen at all. The House of Representatives is set to vote today on a resolution to block Trumps’s use of emergency powers regarding funding of the border wall. Meanwhile, the president is scheduled to arrive in Vietnam to meet with North Korean leader Kim Jong-un to discuss that country giving up its nuclear weapons program. Federal Reserve Chairman Jerome Powell will testify in front of Congress this morning about monetary policy. The S&P 500 is down -0.19%, the Nasdaq is down -0.32%, the Dow Jones is down -0.35%.
Today's Sentiment
NeutralQuote of the Day
Success is having to worry about every damn thing in the world, except money.
Johnny Cash
Daily Action Trade
Stocks on the Move
AutoZone, Inc. (AZO), J M Smucker Co (SJM) and General Electric Company (GE) are moving higher this morning, while Caterpillar Inc. (CAT), Home Depot Inc (HD) and Lowe's Companies, Inc. (LOW) are headed lower. PG&E Corporation (PCG), Ally Financial Inc (ALLY) and EXACT Sciences Corporation (EXAS) were upgraded by analysts this morning, while Caterpillar Inc. (CAT), Kraft Heinz Co (KHC) and Centurylink Inc (CTL) were downgraded.
International Markets
Stocks in Asia are mixed. The Mumbai Sensex is up 0.95%, the Nikkei 225 is down -0.37%, the Shanghai SE Composite Index is down -0.6% the Hang Seng is down -0.65% and the Australia ASX All Ordinaries is down -0.87%. Stocks in Europe are down. The FTSE 100 is down -0.92%, the Euro Stoxx 50 is down -0.19%, the CAC 40 is down -0.17% and the DAX is down -0.16%.
Futures & Currencies
Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.15 at 55.63 per barrel. Brent crude is up 0.52 at 65.28 per barrel. Natural Gas is up 0.04 at 2.88. Precious metals are down this morning. Gold is down -2.5 at 1325.94 per ounce. Platinum is down -0.55 at 853.5 while silver is down -0.06 at 15.84. 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, 1,237,274 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 685,238 put contracts. The single-session put/call was 0.55 while the 20-day moving average is now at 0.61.
Today's Economic Calendar
| No. | What's Happening? | Period | Release Time |
|---|---|---|---|
| 1 | S&P Case-Shiller Home Price Index | Dec | 08:00 |
| 2 | Housing Starts | Dec | 08:30 |
| 3 | Building Permits | Dec | 08:30 |
| 4 | FHFA Housing Price Index | Dec | 09:00 |
| 5 | Consumer Confidence | Feb | 10:00 |
