Stocks Pull Back Friday Morning

Friday, February 7, 2020 8:43 AM | Bobby Raines

First Look

Major U.S. equity indices are trading below break-even ahead of Friday's opening bell. Stocks are up sharply for the week so a breather was likely in order, particularly in light of lingering fears about the economic effects of coronavirus. The monthly jobs report showed the economy added 225,000 jobs in January. Wages ticked up slightly and the average number of hours worked per week remained flat. The S&P 500 is down -0.25%, the Nasdaq is down -0.28%, the Dow Jones is down -0.3%.

Today's Market Outlook

Neutral

Quote of the Day

Start wide, expand further, and never look back.
Arnold Schwarzenegger

Stocks on the Move

NortonLifeLock Inc (NLOK), DXC Technology Co (DXC) and Intercontinental Exchange Inc (ICE) are moving higher this morning, while TAKE-TWO INTERACTIVE SOFTWARE, INC Common Stock (TTWO), eBay Inc (EBAY) and Hanesbrands Inc. (HBI) are headed lower. Uber Technologies Inc (UBER), Twitter Inc (TWTR) and Domino's Pizza, Inc. (DPZ) were upgraded by analysts this morning, while Becton Dickinson and Co (BDX), Aurora Cannabis Inc (ACB) and Yum! Brands, Inc. (YUM) were downgraded.

International Markets

Stocks in Asia are mixed. The Shanghai SE Composite Index is up 0.33%, the Nikkei 225 is down -0.19%, the Hang Seng is down -0.33% the Australia ASX All Ordinaries is down -0.37% and the Mumbai Sensex is down -0.4%. Stocks in Europe are down. The FTSE 100 is down -0.58%, the DAX is down -0.54%, the Euro Stoxx 50 is down -0.36% and the CAC 40 is down -0.35%.

Futures & Currencies

Energy futures are down today. The price for West Texas Intermediate crude oil is down -0.46 at 50.49 per barrel. Brent crude is down -0.43 at 54.5 per barrel. Natural Gas is down -0.01 at 1.85. Precious metals are mixed this morning. Gold is down -0.76 at 1565.9 per ounce. Platinum is up 6.09 at 969.89 while silver is down -0.12 at 17.69. 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, 1,600,237 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 755,509 put contracts. The single-session put/call was 0.47.

Today's Economic Calendar

No. What's Happening? Period Release Time
1 Nonfarm Payrolls Jan 08:30
2 Avg. Hourly Earnings Jan 08:30
3 Unemployment Rate Jan 08:30
4 Average Workweek Jan 08:30
5 Wholesale Inventories Dec 10:00
6 Consumer Credit Dec 15:00

Earnings Expected Today

ABBV, ASX, AVTR, CAE, CBOE, CCJ, CNHI, FE, GOOS, HBI, HCM, HDB, MSG, SPR

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