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Stocks Up Monday Morning; Deadline for Stimulus Deal May Be Tomorrow

Monday, October 19, 2020 08:41 AM | Neal Farmer

First Look

Futures point to a higher open for stocks Monday. House Speaker Nancy Pelosi said Tuesday is a deadline for another stimulus package after she met with Treasury Secretary Steven Mnuchin over the weekend. It remains unclear if Senate Republicans are interested in passing the bill Pelosi and Mnuchin are working on. The Nasdaq is up 0.94%, the S&P is up 0.76%, the Dow Jones is up 0.64%.

Today's Sentiment

Neutral

Quote of the Day

If you can't be persuasive to get people to believe your crazy idea, you can just go ahead and build it.
Jim McKelvey

Daily Action Trade

Stocks on the Move

L Brands Inc (LB), Laboratory Corp. of America Holdings (LH) and NiSource Inc. (NI) are moving higher this morning, while Vornado Realty Trust (VNO), VF Corp (VFC) and United Rentals, Inc. (URI) are headed lower. Comstock Resources Inc (CRK), Bristol-Myers Squibb Co (BMY) and Franklin Resources, Inc. (BEN) were upgraded by analysts this morning, while Corteva Inc (CTVA), AMC NETWORKS INC Common Stock (AMCX) and Snap-on Incorporated (SNA) were downgraded.

International Markets

Stocks in Asia are mixed. The Mumbai Sensex is up 1.12%, the Nikkei 225 is up 1.11%, the Australia ASX All Ordinaries is up 0.79% the Hang Seng is up 0.64% and the Shanghai SE Composite Index is down -0.71%. In Europe stocks are mixed. The CAC 40 is up 0.23%, the Euro Stoxx 50 is up 0.15%, the DAX is down -0.18% and the FTSE 100 is down -0.29%.

Futures & Currencies

Energy futures are down today. The price for West Texas Intermediate crude oil is down -0.08 at 40.8 per barrel. Brent crude is down -0.09 at 42.84 per barrel. Natural Gas is down -0.04 at 2.74. Precious metals are up this morning. Gold is up 16.68 at 1915.97 per ounce. Platinum is up 12.78 at 877.63 while silver is up 0.66 at 25.07. 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, 1,962,712 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 889,320 put contracts. The single-session put/call ratio was 0.45.

Today's Economic Calendar

No. What's Happening? Period Release Time
1 NAHB Housing Market Index Oct 10:00

Earnings Expected Today

ATLKY, CDNS, IBM, PHG, PPG

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