Morning Items To Watch from NewsWare

MORNING NOTES:                                                                                                                              

S&P futures are higher this morning.   Market sentiment is positive as Fed Presidents are indicating that a rate cut is in the near future. The next Fed policy meeting is scheduled for June 18^th and 19^th.  This morning’s job report is being viewed as an indication as to how China tariffs might be affecting employment figures. The unemployment rate matched the consensus of 3.6%. Today’s market catalysts are likely to center on the U.S. Mexico trade talks. Stocks in Europe are ticking higher as their markets are digesting the latest interest rate announcement from the ECB. Asian markets were mainly closed for a holiday, the Tokyo market delivered gains overnight as talk of a drop in rates continues to be viewed positively.

S&P’s Overnight          High  285.90         Low   284.80    % Change higher by 0.04%                                                                                                                                                                                  

Oil Prices:

Oil prices are trading higher this morning.  Oil prices are moving this morning after comments by the Saudi Energy Minister Khalid al-Falih indicating that $60 a barrel oil is to low to encourage investment in the industry. In addition, he said that he did not want to increase Saudi production to make up for a lower oil by selling more oil at lower prices. He indicated that his country and Russia agreed as to their market views. The Iraqi Oil Minister said that the production curbs will likely be extended until the end of the year. Later today, Banker Hughes will be releasing its rig count figures.

WTI is at $53.06 a barrel, Brent Crude is at $62.25 a barrel.     

 For news on oil type in  .OIL or “OPEC” into NewsWare.

 Economic:                                              

 Fed officials are preparing for the June policy meeting June 18^th-19^th. Last month Fed Chair Jerome Powell downplayed the idea of a summer rate cut. Factors have arisen that could change his opinion.  We are now in a trade dispute with Mexico and the U.S. China trade talks have essentially stalled and concerns over global growth persist. These factors create an unfavorable economic outlook and have increased the chances of a summer rate cut At an economic conference in Chicago this week, fed official signaled that they are concerned with a potential slowdown in economic growth and gave the impression that a rate cut will be discussed in the June meeting. Yesterday the ECB said that it is unlikely that there will be any changes in the interest rate this year, but possibly in the 2^nd Q of 2020. Fed Speak: San Francisco Federal Reserve Bank President Mary Daly is scheduled to speak today at 12:00 pm ET. Economic Reports:  At 8:30 am ET, Employment Situation report. At 10:00 am ET Whole Sale Trade report. At 1:00 pm ET Baker Hughes Rig Count figures. At 3:00 pm ET Consumer Credit Report.

  To access Economic news type .Economic into NewsWare.

Options Activity:                                                                      

Bullish option activity in             BYND, HOME & ZUMZ

Bearish option activity in           BBBY,FDS & RH

To access news related to options type  .OPTIONS into NewsWare

Sector Update:

Retail 
BKS    .MA         Elliott Mgmt is said to be close to a deal to take over Barnes & Nobel. 
WMT   P/SGN    Announced that they will be delivering groceries directly to your fridge this fall.
MIK .   REC       Credit Suisse downgrades the stock to Neutral from outperform, PT $11.

FDA / Drug Markets
GSK   .MA          Selling 6 consumer healthcare products to Stada Arzneimittel .
TXMD  P/SGN    Has entered into an exclusive license and supply agreement with Theramex.
LJPC   .REC      SunTrust says the opportunity for 401 to be expanded with HH patients.

Dow 30
MCD     .REC     BofA raised its price target to $220 from $215.
JPM       P/SGN  Fed is ending enforcement action imposed after 2013 trader lost 6b.
IBM       P/SGN   To lay off 1700 workers in non-profitable divisions.

FANG
FB        P/SGN    New Huawei phones will no longer have FB apps pre-installed.
GOOG  Peri.Fly  Warns of a national security risk if not allowed to work with Huawei.
FB        P/SGN    Building up its legal team to defend against antitrust lawsuits

Rumors
SPY     .Rumor     U.S. Mexico talks are heard to be going well, 
NCLS   .ERN        Co says travel restrictions to Cuba will impact fy19 adj eps.
CZR     .Rumor      Said to be in advanced merger talks with Eldorado Resorts (ERI)

As always, please use protective buy and sell stops when trading futures and options.

_{Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in the forum will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.}