Morning Markets from NewsWare

Commentary, News

MORNING NOTES:                                                                  

S&P futures are lower this morning.   Stocks are slipping globally this morning. President Trump says he has no interest in a trade agreement with China unless they commit to the terms his negotiators indicated they have previously agreed upon, In Hong Kong, Mass protests are occurring as a result of an extradition bill. Oil is down over 2%.  Then there are the Anti-Trust hearings in DC on the big tech firms.  These factors are creating selling pressure this morning.

S&P’s Overnight          High  288.64        Low   287.85    % Change lower by 0.16 %


 Oil Prices: 

Oil prices are trading higher this morning.   Oil is trading 2.5% lower this morning after the American Petroleum Institute released bearish inventory data. Their report on the U.S. crude supplies indicated an increase of roughly 4.9 million barrels for the week ended June 7. Demand continues to be a significant concern to oil traders. China factory gate inflation slowed in May on weak commodity demand reinforces the theme of a slowdown in China. Later this morning the official data from the Energy Information Agency will be released.  Oil traders will also be paying attention to the Monthly oil reports due out from OPEC and the International Energy Agency will be releasing reports on Thursday and Friday.

WTI is at $51.80 a barrel, Brent Crude is at $60.75 a barrel.     

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

 Economic:                                              

While Fed officials have made public statements that they are open to a rate cut, the market is pricing in multiple rate cuts within a year. While the market is looking for a rate cut in June, this is an unlikely scenario. What more likely is for the Fed to release a dovish statement next week. It’s important to note that the Fed is a data-driven organization and that inflation is running below their 2% target. Trade Tensions between the U.S and China continue to worsen as Trump has been intensifying his tariff talk. Economic Reports:  At 8:30 am ET Consumer Price Index. At 10:00 am ET The Atlanta Fed Business Inflation Expectations. At 10:30 am ET the EIA will release their Petroleum Status Report.

  To access Economic news type  .Economic into NewsWare.

Options Activity:           

Bullish option activity in             EBAY, ED & KHC

Bearish option activity in            COG, CVS &  RH

To access news related to options type  .OPTIONS into NewsWare

Sector Update:

Retail

CASY     .REC    Barclays raises its price target to $140 from $123.

LULU     .ERN    Earnings out later today. 1.20 call to put ratio yesterday.

RH        .ERN    Earnings out later today. 0.56 call to put ratio yesterday.

  FDA / Drug Markets

IMV       P/SGN   Phase 2 clinical trial display benefits on tumor regression.

PFE       P/SGN   Results were positive from a study on rheumatoid arthritis.

NVTA     P/SGN  Announced partnership with XFOR on genetic testing.

Dow 30

CSCO    .REC     William Blair downgraded the stock to Market Perform

MSFT    .REC     Wedbush more positive on MSFT cloud solution than AMZN.

BA         P/SGN  FAA official feels the 737 will resume flights by December.

FANG

GOOG    Peri.Fly   Started to move HW production to Taiwan from China

FB         Peri.Fly   Setting up a new engineering center in London.

AAPL     .REC       Baird concerned on 30% royalty due to the justice probe

Rumors

SPY       P/SGN  House asks Fed Court to enforce action on Trump officials

INTC     Rumor  Talk yesterday of AAPL to buy a INTC division.

MDSO   .MA       Dassault to acquire Medidata for $92.25 a share.

Upcoming Earnings Announcements and the expected move.

SymbolEarn Datea/pStradl pct$ MoveTotal Call / Put RatioDateCall VolumPut Volumvol Call / Put  RatioCall Open IntPut Open IntOI Call / Put  Ratio
LULU20190612pm9.4116.151.316/15567347241.2010449105160.99
OXM20190612pm9.286.533.126/229972993.333742331.61
RH20190612pm14.0313.081.226/1591216370.562693239460.11
TUFN20190613?15.113.434.376/22001.00001.00
DLTH20190613am13.192.021.656/222421481.646468300.78
LXFT20190613am0.000.000.456/22217366.031231211.02
MPAA20190613am9.421.8310.426/221553.00111612120.92
AVGO20190613pm5.5715.791.876/15436034151.2810968141250.78
FNSR20190613pm2.740.600.726/15321.5018420.43

*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.


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.

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