Stocks Start Week Lower on Trade Uncertainty

First Look

Major indices are lower to start the week Monday morning. As investors wait for further developments in trade negotiations between the U.S. and China, they will also be watching Alibaba's 24-hour shopping marathon called Singles' Day, using it as a gauge for consumer spending in China as economic growth continues to slow. According to Bloomberg, Alibaba (BABA) has recorded more than 215 billion yuan ($30.7 billion) in sales, beating last year's record in around 16 hours. The S&P 500 is down -0.37%, the Dow Jones is down -0.41%, the Nasdaq is down -0.42%.

Today's Sentiment

Quote of the Day

Everything that is done in the world is done by hope.
Martin Luther

Stocks on the Move

Comcast Corporation (CMCSA), Philip Morris International Inc. (PM) and HP Inc (HPQ) are moving higher this morning, while L Brands Inc (LB), Freeport-McMoRan Inc (FCX) and QUALCOMM, Inc. (QCOM) are headed lower. while Alliance Data Systems Corporation (ADS), Smartsheet Inc (SMAR) and Home Depot Inc (HD) were downgraded.

International Markets

Stocks in Asia are mixed. The Australia ASX All Ordinaries is up 0.64%, the Mumbai Sensex is up 0.05%, the Nikkei 225 is down -0.26% the Shanghai SE Composite Index is down -1.83% and the Hang Seng is down -2.71%. Stocks in Europe are down. The FTSE 100 is down -1.21%, the DAX is down -0.42%, the Euro Stoxx 50 is down -0.27% and the CAC 40 is down -0.09%.

Futures & Currencies

Energy futures are down today. The price for West Texas Intermediate crude oil is down -0.63 at 56.61 per barrel. Brent crude is down -0.54 at 61.97 per barrel. Natural Gas is down -0.11 at 2.63. Precious metals are up this morning. Gold is up 1.5 at 1464.4 per ounce. Platinum is up 0.66 at 887.87 while silver is up 0.01 at 16.84. The dollar is down compared to the major currencies today. The greenback is down against the euro, down against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 1,205,884 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 954,862 put contracts. The single-session put/call was 0.79 while the 20-day moving average is now at 0.67.

Today's Economic Calendar

Earnings Expected Today