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Stocks Rise Tuesday Ahead of Powell Testimony

Tuesday, February 11, 2020 08:33 AM | Bobby Raines

First Look

Futures trading indicates a higher open for major U.S. equity indices. Federal Reserve Chairman Jerome Powell is scheduled to begin two days of testimony in front of Congress today. Powell's prepared remarks said the coronavirus represents a "new risk to the outlook" for the U.S. economy, but the chairman is unlikely to signal any imminent changes to monetary policy. In China, factories are reopening after weeks of being closed. The Dow Jones is up 0.47%, the Nasdaq is up 0.35%, the S&P 500 is up 0.33%.

Today's Sentiment

Neutral

Quote of the Day

The world moves, and ideas that were once good are not always good.
Dwight D. Eisenhower

Daily Action Trade

Stocks on the Move

T-Mobile Us Inc (TMUS), Hasbro, Inc. (HAS) and DISH Network Corp (DISH) are moving higher this morning, while Under Armour Inc Class A (UAA), CROWN CASTLE IN/SH SH (CCI) and Masco Corp (MAS) are headed lower. Regeneron Pharmaceuticals Inc (REGN), Sprouts Farmers Market Inc (SFM) and Sibanye Gold Ltd (SBGL) were upgraded by analysts this morning, while Facebook, Inc. Common Stock (FB), Range Resources Corp. (RRC) and Edgewell Personal Care Co (EPC) were downgraded.

International Markets

Stocks in Asia are mixed. The Hang Seng is up 1.22%, the Australia ASX All Ordinaries is up 0.61%, the Mumbai Sensex is up 0.58% the Shanghai SE Composite Index is up 0.39% and the Nikkei 225 is flat 0%. In Europe stocks are up. The DAX is up 0.84%, the FTSE 100 is up 0.8%, the Euro Stoxx 50 is up 0.43% and the CAC 40 is up 0.34%.

Futures & Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.88 at 50.45 per barrel. Brent crude is up 1 at 54.27 per barrel. Natural Gas is down -0.01 at 1.76. Precious metals are mixed this morning. Gold is down -2.9 at 1569.25 per ounce. Platinum is up 5.67 at 968.94 while silver is down -0.08 at 17.7. 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.

Put/Call Ratio

Yesterday, 1,414,307 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 656,586 put contracts. The single-session put/call was 0.46.

Today's Economic Calendar

No. What's Happening? Period Release Time
1 NFIB Small Business Optimism Index Jan 06:00
2 JOLTS - Job Openings Dec 10:00

Earnings Expected Today

ACGL, AKAM, AMCR, AMX, D, EEFT, EXAS, EXC, HAS, HLT, JLL, LYFT, MAS, MLM, NNN, NSANY, OMC, PEAK, SCCO, TSU, UAA, UDR, USFD, WU

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