Stocks Waver as Earnings Season Begins

First Look

Futures trading on the U.S. equity indices has been on both side of the break-even mark overnight. The U.S. Treasury Department has decided to remove the currency manipulator label from China ahead of the expected signing of a trade deal between the two countries tomorrow. earnings season kicks off this morning with JP Morgan (JPM) and Citigroup (C) reporting better than expected results, while Wells Fargo's (WFC) numbers were disappointing. The Dow Jones is down -0.03%, the S&P 500 is down -0.1%, the S&P 500 is down -0.1%.

Today's Sentiment

Quote of the Day

Real knowledge is to know the extent of one's ignorance.
Confucius

Stocks on the Move

Delta Air Lines, Inc. (DAL), Regency Centers Corp (REG) and McKesson Corporation (MCK) are moving higher this morning, while AutoZone, Inc. (AZO), Boston Scientific Corporation (BSX) and Wells Fargo & Co (WFC) are headed lower. WESCO International, Inc. (WCC), Union Pacific Corporation (UNP) and Cummins Inc. (CMI) were upgraded by analysts this morning, while Apple Inc. (AAPL), BP plc (BP) and Cyberark Software Ltd (CYBR) were downgraded.

International Markets

Stocks in Asia are mixed. The Australia ASX All Ordinaries is up 0.82%, the Nikkei 225 is up 0.73%, the Mumbai Sensex is up 0.22% the Shanghai SE Composite Index is down -0.28% and the Hang Seng is down -0.42%. In Europe stocks are mixed. The FTSE 100 is up 0.03%, the DAX is down -0.05%, the CAC 40 is down -0.12% and the Euro Stoxx 50 is down -0.24%.

Futures & Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.51 at 58.59 per barrel. Brent crude is up 0.64 at 64.84 per barrel. Natural Gas is up 0.04 at 2.22. Precious metals are down this morning. Gold is down -7.1 at 1543.5 per ounce. Platinum is down -6.47 at 968.31 while silver is down -0.23 at 17.77. The dollar is up compared to the major currencies today. The greenback is up against the euro, up against the Yen and up against the Pound.

Put/Call Ratio

Yesterday, 1,586,946 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 753,352 put contracts. The single-session put/call was 0.47.

Today's Economic Calendar

Earnings Expected Today