Major indices are higher in the pre-market Monday morning. Shares of Spotify (SPOT) stock are higher by 8.4% after the company released quarterly earnings that topped expectations. Spotify's revenues were in line with expectations and the company reported a 30% year-over-year increase in monthly active users. AT&T is up 1.8% after the company issued upside guidance for fiscal year 2020 and a three-year financial guidance plan that expects 1-2% per year consolidated revenue growth by 2022. AT&T missed on revenues for the quarter, and EPS was in line with estimates. Walgreen Boots Alliance (WBA) stock is up 0.7% after the company beat EPS expectations and said it will increase its targeted annual savings. In Britain, the House of Commons will be voting today on Prime Minister Boris Johnson’s call for an election on December 12, while the European Union is considering granting the UK a three-month Brexit extension through January 31. The Nasdaq is up 0.35%, the Dow Jones is up 0.34%, the S&P 500 is up 0.28%.
Today's Market Outlook
Quote of the Day
The only man who never makes mistakes is the man who never does anything.
Stocks on the Move
Tiffany & Co. (TIF), Microsoft Corporation (MSFT) and Advanced Micro Devices, Inc. (AMD) are moving higher this morning, while Prologis Inc (PLD), Edison International (EIX) and Albemarle Corporation (ALB) are headed lower. Tiffany & Co. (TIF), Travelers Companies Inc (TRV) and JetBlue Airways Corporation (JBLU) were upgraded by analysts this morning, while Ventas, Inc. (VTR), Tapestry Inc (TPR) and Cabot Oil & Gas Corporation (COG) were downgraded.
Stocks in Asia are mixed. The Shanghai SE Composite Index is up 0.85%, the Hang Seng is up 0.82%, the Nikkei 225 is up 0.3% the Australia ASX All Ordinaries is up 0.02% and the Mumbai Sensex is flat 0%. In Europe stocks are mixed. The DAX is up 0.39%, the CAC 40 is up 0.12%, the Euro Stoxx 50 is up 0.01% and the FTSE 100 is down -0.12%.
Futures & Currencies
Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.32 at 56.48 per barrel. Brent crude is down -0.17 at 61.85 per barrel. Natural Gas is up 0.06 at 2.36. Precious metals are up this morning. Gold is up 0.6 at 1505.9 per ounce. Platinum is up 4.96 at 930.76 while silver is up 0.1 at 18.02. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, up against the Yen and down against the Pound.
Yesterday, 1,296,617 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 840,375 put contracts. The single-session put/call was 0.65 while the 20-day moving average is now at 0.67.
Today's Economic Calendar
|No.||What's Happening?||Period||Release Time|
|1||Adv. Intl. Trade in Goods||Sep||08:30|
|2||Adv. Retail Inventories||Sep||08:30|
|3||Adv. Wholesale Inventories||Sep||08:30|