Stocks Sharply Higher Tuesday Morning

First Look

U.S. stocks are pointed sharply higher ahead of the opening bell Tuesday. Monday's selloff in Chinese stocks didn't really carry over into Tuesday's session, although the government continued to provide a lot of liquidity. New cases of coronavirus continue to rise, and the death toll is not at 425. According to a Bloomberg report, demand for oil products has dropped by 20% due to travel restrictions and other virus-related closings. The Nasdaq is up 1.55%, the S&P 500 is up 1.29%, the S&P 500 is up 1.29%.

Today's Sentiment

Quote of the Day

All I was doing was trying to get home from work.
Rosa Parks

Stocks on the Move

Microchip Technology Inc. (MCHP), TechnipFMC PLC (FTI) and Cummins Inc. (CMI) are moving higher this morning, while Alphabet Inc Class C (GOOG), Centene Corp (CNC) and Waters Corporation (WAT) are headed lower. Texas Roadhouse Inc (TXRH), Comcast Corporation (CMCSA) and Toronto-Dominion Bank (TD) were upgraded by analysts this morning, while Check Point Software Technologies Ltd. (CHKP), Tandem Diabetes Care Inc (TNDM) and SYSCO Corporation (SYY) were downgraded.

International Markets

Stocks in Asia are up. The Mumbai Sensex is up 2.3%, the Shanghai SE Composite Index is up 1.34%, the Hang Seng is up 1.21% the Nikkei 225 is up 0.49% and the Australia ASX All Ordinaries is up 0.39%. In Europe stocks are up. The FTSE 100 is up 1.42%, the CAC 40 is up 1.41%, the DAX is up 1.38% and the Euro Stoxx 50 is up 1.34%.

Futures & Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.8 at 50.91 per barrel. Brent crude is up 0.38 at 54.83 per barrel. Natural Gas is up 0.02 at 1.84. Precious metals are mixed this morning. Gold is down -9.88 at 1556.85 per ounce. Platinum is up 8.35 at 977.4 while silver is down -0.21 at 17.68. 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, 1,287,916 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 648,800 put contracts. The single-session put/call was 0.5.

Today's Economic Calendar

Earnings Expected Today