First Look
Stocks are pointed lower ahead of the bell Wednesday. U.S. Trade Representative Robert Lighthizer is scheduled to return to Shanghai Monday to resume face-to-face talks with China's Vice Premier Liu He. Lighthizer, along with a small team of senior officials, will meet with Chinese negotiators through Wednesday to address unsettled trade issues. Boris Johnson will become the U.K.'s new prime minister today. Johnson addressed members of Parliament, saying the U.K. will leave the European Union on October 31. Caterpillar (CAT), long seen as a market bellwether, is down 3.7% in the pre-market this morning after reporting quarterly earnings. Investors will be watching with Facebook (FB), AT&T (T), Boeing (BA), Paypal (PYPL), Anthem (ANTM), Tesla (TSLA), Ford (F), and many other major companies also scheduled to report earnings today. The S&P 500 is down -0.26%, the Dow Jones is down -0.35%, the Nasdaq is down -0.41%.
Today's Sentiment
NeutralQuote of the Day
It is the loose ends with which men hang themselves.
Zelda Fitzgerald
Daily Action Trade
Stocks on the Move
Edwards Lifesciences Corp (EW), Texas Instruments Incorporated (TXN) and United Parcel Service, Inc. (UPS) are moving higher this morning, while Caterpillar Inc. (CAT), Thermo Fisher Scientific Inc. (TMO) and Anthem Inc (ANTM) are headed lower. Snap Inc (SNAP), Texas Instruments Incorporated (TXN) and Lions Gate Entertainment Corp. Class A (LGF.A) were upgraded by analysts this morning, while 8x8, Inc. (EGHT), Trade Desk Inc (TTD) and Leggett & Platt, Inc. (LEG) were downgraded.
International Markets
Stocks in Asia are mixed. The Shanghai SE Composite Index is up 0.8%, the Australia ASX All Ordinaries is up 0.73%, the Nikkei 225 is up 0.41% the Hang Seng is up 0.2% and the Mumbai Sensex is down -0.36%. In Europe stocks are mixed. The DAX is up 0.25%, the Euro Stoxx 50 is down -0.13%, the CAC 40 is down -0.14% and the FTSE 100 is down -0.96%.
Futures & Currencies
Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.14 at 56.91 per barrel. Brent crude is up 0.04 at 63.87 per barrel. Natural Gas is down -0.02 at 2.28. Precious metals are up this morning. Gold is up 8.77 at 1426.6 per ounce. Platinum is up 12.3 at 868.47 while silver is up 0.1 at 16.58. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, down against the Yen and down against the Pound.
Put/Call Ratio
Yesterday, 990,645 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 607,726 put contracts. The single-session put/call was 0.61 while the 20-day moving average is now at 0.61.
Today's Economic Calendar
| No. | What's Happening? | Period | Release Time |
|---|---|---|---|
| 1 | MBA Mortgage Applications Index | 07/20 | 07:00 |
| 2 | New Home Sales | Jun | 10:00 |
| 3 | EIA Crude Oil Inventories | 07/20 | 10:30 |
