S&P futures are lower this morning. Futures have been trending lower all morning. Overnight in Asian the major indexes were largely positive. Expectations of a stimulus program are creating optimism. In Europe the three major averages are showing weakness.
S&P’s Overnight High 283.84 Low 282.57 % Change lower by 0.54
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Oil prices are lower this morning. Oil traders are waiting for today Energy Information Agency report on U.S stockpiles this morning. The oil market is paying close attention to events in Saudi Arabia as the country has experienced 2 attacks in the last week. Geopolitical issues continue to add volatility to the price per barrel (trade talks, Venezuela, Libya). The International Energy Agency in Paris issued a report this morning outlining their first change in oil demand in months. The report indicated that the world’s total oil supply fell by 300,000 barrels a day month-on-month to 99.3 million barrels a day. The identifiable reasons for the decrease include, Sanctions on Iran, OPEC productions cuts, Russian Pipeline contamination and geopolitical issues in Venezuela and Libya.
WTI is at $60.96 a barrel, Brent Crude is at $70.57 a barrel.
For news on oil type in .OIL or “OPEC” into NewsWare.
China reported weakening economic data this morning. Market is speculating that China will enact additional stimulus measures. Trump is tweeting “China will be pumping money into their system probably reducing interest rates, as always in order to make up for the business they are, and will be losing”, Fed Speak: At 09:30 am ET, Federal Board of Governors Vice Chairman for SupervisionRandal Quarles to give testimony before the Senate Banking Committee in Washington, DC. At 1:00 pm ET. Richmond Federal Reserve Bank President Tom Barkin to give remarks on “Sentiment and theReal Economy” at the New York Association for Business Economics in New York,Economic Reports: At 8:30 am ET Retail Sales, Empire State Manufacturing survey reports are due out. At 9:15 am ET Industrial Production. At 10:00 am ET the Atlanta Fed Business Inflation expectations, Business Inventories Housing Market Index. At 10:30 am ET the EIA Petroleum Status Report.
To access Economic news type .Economic into NewsWare.
Bullish option activity in AMAT, BABA & CSCO
Bearish option activity in AMD, FIZZ & MRVL
To access news related to options type .OPTIONS into NewsWare
CVS P/SGN Launches “Tested to be True” program for vitamins & supplements.
WMT P/SGN Said to be considering an IPO for its UK subsidiary Asda.
AN P/SGN Eddie Lampert reports a 17% stake in AutoNation.
JNJ P/SGN To present thier strategy for delivering above avg market growth in 2019.
PFE P/SGN Achieves all primary end points in phase 3 study for dermatitis drug.
IMGN P/SGN FDA recommends new Phase 3 trial of mirvetuximab soravtansine.
KO .REC JP Morgan upgraded the stock to Overweight from equal weight, $55 price target.
CVX P/SGN Goldman upgrades the stock to Conviction Buy from buy.
VZ P/SGN VZ’s CEO to speak tomorrow at a JP Morgan conference.
GOOG .REC Deutsche Bank raises its price target to $1400 from $1300.
FB Peri.Fly Expectations that FB will announce a blockchain product is increasing.
FB P/SGN To stop people who have posed terrorist videos from broadcasting.
SPY .Rumor Trump is said to be planning an Executive order to bar foreign telcom purchases.
BGS .MA B&G foods acquires Clabber Girl corp
ESLT Hots.fly Selected by the U.S. Navy for the Contracted Maintenance agreement.
NAV .Option Call volumes heavy yesterday.
Upcoming Earnings Releases and Expected move:
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