Stocks Down in the Pre-Market

First Look

Major indices are down in the pre-market Tuesday. The British pound fell below $1.22 overnight amid growing concerns of a no-deal Brexit. As plans move forward for a no-deal exit, Prime Minister Boris Johnson will spend the coming weeks trying to get the EU to renegotiate its current deal. Apple (AAPL) reports quarterly earnings after the bell today, with a decline in iPhone sales expected by analysts. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer will be meeting with Chinese trade officials today in Beijing. As expectations of a trade deal being reached remain low, the two parties will be dining together today before trade talks begin on Wednesday. The U.S. is calling for aid from Japan in protecting oil tankers in the Strait of Hormuz, as Japan gets more than 80% of its crude imports from the Middle East. Japanese public opinion is divided on overseas deployments and security issues, placing Japan's Prime Minister Shinzo Abe in a precarious situation between helping the White House and negative public opinion. The Dow Jones is down -0.37%, the S&P 500 is down -0.45%, the Nasdaq is down -0.69%.

Today's Sentiment

Quote of the Day

I steal from every movie ever made.
Quentin Tarantino

Stocks on the Move

Procter & Gamble Co (PG), Merck & Co., Inc. (MRK) and Martin Marietta Materials, Inc. (MLM) are moving higher this morning, while Under Armour Inc Class A (UAA), A. O. Smith Corp (AOS) and Cummins Inc. (CMI) are headed lower. Zimmer Biomet Holdings Inc (ZBH), Micron Technology, Inc. (MU) and Jones Lang LaSalle Inc (JLL) were upgraded by analysts this morning, while TransUnion (TRU), Pfizer Inc. (PFE) and Kinder Morgan Inc (KMI) were downgraded.

International Markets

Stocks in Asia are mixed. The Nikkei 225 is up 0.43%, the Shanghai SE Composite Index is up 0.39%, the Australia ASX All Ordinaries is up 0.24% the Hang Seng is up 0.14% and the Mumbai Sensex is down -0.77%. Stocks in Europe are down. The DAX is down -2.11%, the Euro Stoxx 50 is down -1.63%, the CAC 40 is down -1.44% and the FTSE 100 is down -0.19%.

Futures & Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.37 at 57.24 per barrel. Brent crude is up 0.5 at 64.21 per barrel. Natural Gas is up 0.02 at 2.13. Precious metals are up this morning. Gold is up 0.58 at 1441.6 per ounce. Platinum is up 6.21 at 879.15 while silver is up 0.05 at 16.49. 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, 840,877 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 594,920 put contracts. The single-session put/call was 0.71 while the 20-day moving average is now at 0.62.

Today's Economic Calendar

Earnings Expected Today