S&P futures are trading lower this morning. Global growth concerns, a sell-off in the Asian market and the upcoming tariffs are weighing on stocks this morning. The Shanghai Composite dropped 0.63% overnight. Hong Kong and Argentina continue to be markets of concern. The main index in Argentina dropped over 37% yesterday. It is being reported that a state of chaos now exists in Hong Kong. Chinese forces are said to be massing across the border in the city of Shenzhen. European markets are trading lower based on the belief of a build-up of poor economic conditions. This morning CPI data is being seen as a positive for the markets.
S&P’s Overnight – High: 288.43 Low: 286.49 % Change: lower by 0.36
Oil prices are trading lower this morning. Oil prices continue to be hampered by the growing indications of a slowdown in global growth. Aramco, released relatively strong earnings yesterday and indicated that a special dividend is forthcoming. Oil traders look to this news as a positive sign that Saudi Arabia may start to ease production to boost oil prices in the short term. On Friday OPEC will be releasing its monthly report. This report covers the major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. Later today the American Petroleum Institute will be releasing it’s weekly stockpile figures.
WTI is at $54.69 a barrel, Brent Crude is at $58.28 a barrel.
For news on oil type in .OIL or “OPEC” into NewsWare.
Global economic news continues to create nervousness in the U.S. financial markets. Top global economic news stories include the stalling of U.S./China trade talks, Easing of monetary policies by Central banks, The likelihood of a no-deal Brexit, Negative economic data out of German, Political uncertainty in Italy, A financial meltdown in Argentina and unrest in Hong Kong.
08:30 am ET Consumer Price Index for July.
08:55 am ET Redbook on retail sales.
To access Economic news type .Economic into NewsWare.
Bullish option activity in CBS, GDX & ROKU
Bearish option activity in DB, HPQ & UAA
To access news related to options type .OPTIONS into NewsWare
Sector Update: Headlines to Note
AAP .ERN Down $8 on eps miss (missed by 0.21), Trims guidance. CEO calls Q2 “challenging”
TIF .Options Trade war weighing on the stock, Call Put ratio 1 call to 3.8 puts traded on Mon.
DDS .ERN Scheduled to release earnings Thur mornings, Straddle indicates a move of $6.75.
FDA / Drug Markets
DCPH P/SGN Phase 1 study tumor drug meets endpoints.
REGN P/SGN FDA approved EYLEA injection prefilled syringe.
LLY .FDA Taltz, meets primary and secondary endpoints in phase 4 study.
VZ .MA Sells Tumbler to WordPress.com for less than 3m. Yahoo paid 1.1b for the company.
WMT .ERN To release earnings on Thur, Straddle indicates a move of $4.75. Puts are active.
INTC .REC Susquehanna lowers its price target to $53 from $54.
AAPL P/SGN Credit Suisse calls the July bounce back in iphone shipments to China a positive.
AAPL .REC Wedbush said “1st round of tariffs likely absorbed by Apple”
AMZN .GOV “Amazon’s Choice” label being questioned by Senators in a letter to CEO.
SPY N/TRD Goldman feels there is a 13% of a China trade deal prior to 2020 elections.
CBS .MA CBS is in the final stages of a merger deal with Viacom.
MBIO Hots.Fly Announced a 9.28m grant to fund the phase 1 trial of breast cancer treatment.
Upcoming Earnings Data and Options Volume Analysis
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