First Look
Stocks in the U.S. have been on a wild ride since yesterday's close. Futures trading indicated losses of more than 1.5% for most major indices yesterday evening after Iran launched missiles into Iraq targeting U.S. bases in retaliation for the killing of a top military commander. The missiles don't appear to have caused a lot of damage or any casualties and there has been no further escalation of hostilities, allowing markets to bounce back. President Trump is expected to address the nation about the situation today. Also in Iran, but seemingly unrelated to geopolitics, a Boeing (BA) 737 crashed shortly after takeoff in Tehran yesterday. The place was not a 737 max, but the news has pushed Boeing lower. The Nasdaq is up 0.24%, the S&P 500 is up 0.22%, the Dow Jones is up 0.04%.
Today's Sentiment
NeutralQuote of the Day
Predicting rain doesn't count. Building arks does.
Warren Buffett
Daily Action Trade
Stocks on the Move
Macy's Inc (M), Lennar Corporation (LEN) and Constellation Brands, Inc. Class A (STZ) are moving higher this morning, while Walgreens Boots Alliance Inc (WBA), TechnipFMC PLC (FTI) and Zebra Technologies Corp. (ZBRA) are headed lower. Cubic Corporation (CUB), Apache Corporation (APA) and L OREAL CO/ADR (LRLCY) were upgraded by analysts this morning, while Boeing Co (BA), Cisco Systems, Inc. (CSCO) and Corning Incorporated (GLW) were downgraded.
International Markets
Stocks in Asia are down. The Nikkei 225 is down -1.57%, the Shanghai SE Composite Index is down -1.22%, the Hang Seng is down -0.95% the Australia ASX All Ordinaries is down -0.19% and the Mumbai Sensex is down -0.13%.In Europe stocks are up. The DAX is up 0.29%, the Euro Stoxx 50 is up 0.21%, the CAC 40 is up 0.18% and the FTSE 100 is up 0.01%.
Futures & Currencies
Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.67 at 62.03 per barrel. Brent crude is down -0.37 at 67.9 per barrel. Natural Gas is up 0.02 at 2.18. Precious metals are down this morning. Gold is down -1.6 at 1572.77 per ounce. Platinum is down -3.4 at 968.28 while silver is down -0.07 at 18.32. The dollar is up compared to the major currencies today. The greenback is up against the euro, up against the Yen and up against the Pound.
Put/Call Ratio
Yesterday, 1,304,011 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 580,154 put contracts. The single-session put/call was 0.44.
Today's Economic Calendar
| No. | What's Happening? | Period | Release Time |
|---|---|---|---|
| 1 | MBA Mortgage Applications Index | 01/04 | 07:00 |
| 2 | ADP Employment Change | Dec | 08:15 |
| 3 | EIA Crude Oil Inventories | 01/04 | 10:30 |
| 4 | Consumer Credit | Nov | 15:00 |
