Stocks Point Lower Wednesday

First Look

Stocks in the U.S. are pointed lower Wednesday morning. Traders seem to be increasingly betting that the Federal Reserve is more likely to cut interest rates twice than three times over the balance of the year. Federal Reserve Chair Jerome Powell is expected to speak later today. The Dow Jones is down 0.02%, the S&P is down 0.11%, and the Nasdaq is down 0.21%.

Today's Sentiment

Quote of the Day

They don't hand out Ph.D.s in test piloting, but you pick up a tremendous amount of scientific and engineering knowledge along the way. After all, when you take up a brand new plane and put it through its paces to see if it will hang together, you are really flying somebody's theory.
Gus Grissom

Stocks on the Move

International Markets

Stocks in Asia are mixed. The Hang Seng is up 2.36%, the Shanghai SE Composite Index is down 0.08%, the Mumbai Sensex (S&P BSE SENSEX) is down 0.15%, the Nikkei 225 is down 0.97%, and the Australia ASX All Ordinaries is down 1.34%. In Europe, stocks are mixed. The Euro Stox 50 is up 0.34%, the DAX is up 0.29%, the CAC 40 is up 0.2%, and the FTSE 100 is down 0.31%.

Futures & Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down $0.05 at $85.37 per barrel. Brent crude is up $0.3 at $89.22 per barrel. Natural Gas is up $0.02 at $1.87. Precious metals are mixed this morning. Gold is down $8.76 at $2271.8 per ounce. Platinum is down $2 at $921.5, while silver is up $0.12 at $26.26. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, up against the Yen, and down against the Pound. Bitcoin is up 1% to $65,872.43, while Ethereum is up 0.6% to $3,305.97.

Put/Call Ratio

Yesterday, 3,851,457 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 3,656,052 put contracts. The single-session put/call ratio was 0.95.

Today's Economic Calendar

Earnings Expected Today