First Look
Futures for major U.S. equity indices are pointing to slight gains at the open, but have bounced around quite overnight. Yesterday's plunge, which erased the market's 2020 gains, was sparked by fears of the covid-19 virus spreading outside of China. Italy and Iran in particular have outbreaks they are struggling to contain, with reports out this morning that a top Iranian health official has been diagnosed with the virus. Mastercard (MA) and United Airlines (UAL) have both said the virus will have a negative effect on their 2020 results. The Nasdaq is up 0.79%, the S&P 500 is up 0.46%, the Dow Jones is up 0.45%.
Today's Sentiment
NeutralQuote of the Day
I'll tell you one thing, in what I do for a living, there's no substitute for experience. I don't care how much natural talent you may have... In the type of show I do, you can depend on surprises.
Bob Barker
Daily Action Trade
Stocks on the Move
Perrigo Company PLC (PRGO), Keysight Technologies Inc (KEYS) and HP Inc (HPQ) are moving higher this morning, while A. O. Smith Corp (AOS), Mastercard Inc (MA) and Newmont Corporation (NEM) are headed lower. Nio Inc - ADR (NIO), Regeneron Pharmaceuticals Inc (REGN) and AMC NETWORKS INC Common Stock (AMCX) were upgraded by analysts this morning, while Palo Alto Networks Inc (PANW), Wayfair Inc (W) and Tesla Inc (TSLA) were downgraded.
International Markets
Stocks in Asia are mixed. The Hang Seng is up 0.27%, the Mumbai Sensex is down -0.2%, the Australia ASX All Ordinaries is down -1.58% the Nikkei 225 is down -3.34% and the Shanghai SE Composite Index is down -6%. Stocks in Europe are down. The FTSE 100 is down -0.58%, the CAC 40 is down -0.35%, the Euro Stoxx 50 is down -0.34% and the DAX is down -0.22%.
Futures & Currencies
Energy futures are mixed today. The price for West Texas Intermediate crude oil is flat 0 at 51.43 per barrel. Brent crude is up 0.04 at 56.34 per barrel. Natural Gas is up 0.02 at 1.84. Precious metals are down this morning. Gold is down -9.29 at 1650.09 per ounce. Platinum is down -2.12 at 964.36 while silver is down -0.51 at 18.45. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, down against the Yen and up against the Pound.
Put/Call Ratio
Yesterday, 1,383,679 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 962,711 put contracts. The single-session put/call was 0.7.
Today's Economic Calendar
| No. | What's Happening? | Period | Release Time |
|---|---|---|---|
| 1 | FHFA Housing Price Index | Feb | 09:00 |
| 2 | S&P Case-Shiller Home Price Index | Dec | 09:00 |
| 3 | Consumer Confidence | Feb | 10:00 |
