MORNING NOTES:
S&P futures are trading flat to higher this morning. Markets are moving off of the ECB announcement of a 10-basis point cut and their intention to resume bond-buying program in November. Program is reported to be at a pace of 20b euros a month. Overnight in Asia, the markets were mixed today as they await the impending ECB policy decision. China’s markets ended on a positive note as President Trump announced a short delay to tariffs set to be imposed on billions of dollars’ worth of Chinese goods. China’s markets rose 0.75% on the news. Stocks in the European markets have started to pull back after trading higher this morning, but are now back to moving higher. ECB announcement of a rate cut, and quantitative easing measurement are positive.
S&P’s Overnight High 301.57 Low 300.54 % Change higher by 0.35
| Asia | Close | Change | %Change | Europe | Close | Change | %Change | |
| Tokyo | 21759.61 | 161.85 | 0.75 | London | 7356.69 | 18.66 | 0.25 | |
| Hong Kong | 27087.63 | -71.43 | -0.26 | Germany | 12428.38 | 69.31 | 0.56 |
Oil Prices:
Oil prices are trading lower this morning. The key event is the OPEC meeting in Abu Dhabi today. Saudi Arabia’s new energy minister Prince Abdulaziz bib Salman, said at the start of the meeting that members of the extended group should honor their commitments to cut output regardless of their size. It is being reported that talks for additional production cuts are not expected to be discussed till next year. August’s compliance with the production cuts announced earlier this year is at 136%. According to the Energy Information Administration, Crude-oil stockpiles fell by 6.9 million barrels to 416.1 million barrels.
WTI is at $55.59 a barrel, Brent Crude is at $60.54 a barrel.
For news on oil type in .OIL or “OPEC” into NewsWare.
Economic:
Key economic developments that the market will be reacting to today include the ECB monetary decision and President Trump’s announcement that he will be delaying certain tariffs on Chinese imports. The markets are expecting the ECB to announce a 10-basis point cut in its key deposit rate, however, support for a bond-buying program is limited. The U.S. announced that it will delay by two weeks a planned increase in tariffs on some Chinese imports. The fact that the delay is only for a period of two weeks indicates that little progress is expected to come out of next month’s trade talks in Washington DC next month.
Economic Reports:
At 08:30 am ET Jobless Claims an the Consumer Price Index.
Fed Speak:
The Quite Period ahead of next weeks fed meeting has begun.
To access Economic news type .Economic into NewsWare.
Options Activity:
Bullish option activity in SPLK, TPR & YELP
Bearish option activity in LL, MDR & ORCL
To access news related to options type .OPTIONS into NewsWare
Sector Update: Headlines to Note
Retail
WMT P/SGN To roll out “Delivery Unlimited” to 1400 stores nationwide.
CASY .REC JPM raises its price target to $169 from $152.
CVS .REC Deutsche Bank raises its price target to $91.
FDA / Drug Markets
ADVM P/SGN Announced Positive 24-Wk data from 1st cohort of OPTIC in phase 1 Trial.
CCXI .REC JP Morgan upgrades to Overweight ahead of phase 3 results.
MRNA P/SGN Announced positive phase 1 result for mRNA-1944
Dow 30
BA P/SGN Return of 737 Max Jet is likely to require approval by each country.
UTX P/SGN Collins division with SES is working to bring fastest broadband speeds to airlines
WGN P/SGN To offer 3% discount on Apple Card with Apple Pay Purchases.
FANG
AAPL .REC Credit Suisse say Aug iPhone shipments were down significantly
FB P/SGN High ranking French official has vowed to block FB’s digital currency.
GOOG P/SGN Federal Regulars have reached a settlement on employees’ claims of political bias.
Rumors
SPY P/SGN China wants to narrow scope of talks in an attempt to break the stalemate.
ORCL P/SGN Met eps expectations on lower revenue, Co-CEO Hurd to take a leave of absence.
GRPN .MA Market Chatter indicates that Groupon is looking to buyout Yelp.
Upcoming Earnings Data and Options Volume Analysis
| Symbol | Earn Date | a/p | Stradl pct | $ Move | Total Call / Put Ratio | Date | Call Volum | Put Volum | vol Call / Put Ratio | Call Open Int | Put Open Int | OI Call / Put Ratio |
| expirations | w1 | 9/21 | wk3 | 9/28 | wk4 | 10/5 | month 1 | 9/21 | ||||
| SPY | 0.00 | 0.00 | 0.65 | |||||||||
| calc | 20201231 | ? | 0.00 | 0.00 | 1.00 | 10/19 | 0 | 0 | 1.00 | 0 | 0 | 1.00 |
| HAFC | 20190723 | pm | 2.24 | 0.42 | 1.50 | 9/21 | 0 | 0 | 1.00 | 25 | 236 | 0.11 |
| OXM | 20190911 | pm | 11.04 | 8.06 | 1.27 | 9/21 | 1075 | 897 | 1.20 | 816 | 484 | 1.69 |
| PUMP | 20190911 | pm | 13.57 | 1.44 | 16.39 | 9/21 | 529 | 20 | 26.45 | 5660 | 2450 | 2.31 |
| TLRD | 20190911 | pm | 32.58 | 1.68 | 3.23 | 9/21 | 0 | 0 | 1.00 | 0 | 0 | 1.00 |
| DLTH | 20190912 | am | 20.14 | 2.22 | 1.11 | 9/21 | 2107 | 1943 | 1.08 | 707 | 1224 | 0.58 |
| KR | 20190912 | am | 7.53 | 1.93 | 1.83 | 9/14 | 13679 | 12294 | 1.11 | 12100 | 6417 | 1.89 |
| AVGO | 20190912 | pm | 4.12 | 12.27 | 1.14 | 9/14 | 2848 | 2695 | 1.06 | 6523 | 5586 | 1.17 |
| MCFT | 20190912 | pm | 13.22 | 2.42 | 3.82 | 9/21 | 1201 | 306 | 3.92 | 874 | 228 | 3.83 |
| AKTS | 20190913 | ? | 10.73 | 0.89 | 6.80 | 9/21 | 328 | 30 | 10.93 | 667 | 25 | 26.68 |
| ORCL | 20190916 | pm | 5.41 | 2.92 | 0.67 | 9/14 | 8273 | 22876 | 0.36 | 9094 | 53877 | 0.17 |
| CHWY | 20190917 | ? | 13.72 | 4.15 | 0.61 | 9/21 | 3889 | 6235 | 0.62 | 28594 | 6274 | 4.56 |
| APOG | 20190917 | am | 9.10 | 3.74 | 0.33 | 9/21 | 20 | 39 | 0.51 | 133 | 429 | 0.31 |
| CBRL | 20190917 | am | 3.90 | 6.49 | 2.27 | 9/21 | 614 | 97 | 6.33 | 4262 | 2397 | 1.78 |
| ADBE | 20190917 | pm | 5.42 | 15.05 | 1.44 | 9/21 | 4197 | 2283 | 1.84 | 42217 | 31285 | 1.35 |
| FDX | 20190917 | pm | 5.17 | 8.99 | 1.22 | 9/21 | 3524 | 2310 | 1.53 | 22506 | 24312 | 0.93 |
| GIS | 20190918 | am | 4.56 | 2.48 | 1.13 | 9/21 | 538 | 691 | 0.78 | 8578 | 8959 | 0.96 |
| MLHR | 20190918 | pm | 7.92 | 3.49 | 3.79 | 9/21 | 128 | 38 | 3.37 | 203 | 734 | 0.28 |
| DRI | 20190919 | am | 4.88 | 6.21 | 0.63 | 9/21 | 103 | 217 | 0.47 | 2094 | 1844 | 1.14 |
| SSL | 20190919 | am | 4.51 | 0.86 | 1.04 | 9/21 | 0 | 0 | 1.00 | 337 | 179 | 1.88 |
| SCS | 20190919 | pm | 8.56 | 1.42 | 1.68 | 9/21 | 12 | 1 | 12.00 | 188 | 4370 | 0.04 |
| UNFI | 20190919 | pm | 13.08 | 1.60 | 25.00 | 9/21 | 1487 | 27 | 55.07 | 1927 | 568 | 3.39 |
*Information displayed above is for informational purposes only. Trading involves the risk of capital and we are not making any predictions on future events or movements in equity prices. All investors are advised to conduct their own independent research into individual stocks before making a purchase decision. In addition, investors are advised that past stock performance is not indicative of future price action.
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