Stocks Point Lower Wednesday as Investors Fear Further Lockdowns

First Look

Stocks in most world markets are lower Wednesday morning. Rising coronavirus cases in the U.S. and Europe and additional lockdown measures to control the spread have traders concerned about economic growth. Microsoft (MSFT) reported better-than-expected quarterly results yesterday evening, but the stock is lower this morning on weak revenue guidance. The Nasdaq is down -1.1%, the S&P is down -1.36%, the Dow Jones is down -1.65%.

Today's Sentiment

Quote of the Day

We cannot become what we need to be by remaining what we are.
Max de Pree

Stocks on the Move

Sealed Air Corp (SEE), General Electric Company (GE) and Juniper Networks, Inc. (JNPR) are moving higher this morning, while Anthem Inc (ANTM), Halliburton Company (HAL) and Concho Resources Inc (CXO) are headed lower. Viewray Inc (VRAY), Omnicom Group Inc. (OMC) and BP plc (BP) were upgraded by analysts this morning, while New Fortress Energy Inc (NFE), Harley-Davidson Inc (HOG) and Frontline Ltd (FRO) were downgraded.

International Markets

Stocks in Asia are mixed. The Shanghai SE Composite Index is up 0.46%, the Australia ASX All Ordinaries is up 0.23%, the Nikkei 225 is down -0.29% the Hang Seng is down -0.32% and the Mumbai Sensex is down -1.48%. Stocks in Europe are down. The DAX is down -3.24%, the CAC 40 is down -3.05%, the Euro Stoxx 50 is down -2.98% and the FTSE 100 is down -1.72%.

Futures & Currencies

Energy futures are down today. The price for West Texas Intermediate crude oil is down -1.81 at 37.76 per barrel. Brent crude is down -1.59 at 39.61 per barrel. Natural Gas is down -0.01 at 3.01. Precious metals are down this morning. Gold is down -18.06 at 1889.93 per ounce. Platinum is down -10.07 at 872.87 while silver is down -0.46 at 24.11. 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, 1,224,489 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 724,081 put contracts. The single-session put/call ratio was 0.59.

Today's Economic Calendar

Earnings Expected Today