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MORNING NOTES:                                                                                                                              

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

%

Asian MarketsCloseChange% Change EuroLastChange% Change
Tokyo21188.56121.330.58 London  7236.63   -4.97-0.07
Hong Kong28268.71146.690.52 Germany11899.54   -92.08-0.77

Oil Prices:

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.

 Economic:                         

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.

Options Activity:                                                                      

Bullish option activity in                  AMAT, BABA & CSCO

Bearish option activity in                AMD, FIZZ & MRVL

To access news related to options type  .OPTIONS into NewsWare

Sector Update:

Retail   

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.      

Drug Makers:

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.

Dow 30:

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.

FANG:

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.

Rumor:

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:

SymbolEarn Datea/pStradl pct$ Movelast rptd qtr earn srprse %Total Call / Put RatioDateCall VolumPut Volumvol Call / Put  RatioCall Open IntPut Open IntOI Call / Put  Ratio
CSCO20190515pm4.282.231.391.465/1819476105451.8594189543761.73
FLO20190515pm6.601.406.670.035/18020.003741352.77
JACK20190515pm6.705.193.850.355/181605220.3110559461.12
KHC20190515pm1.670.54(9.68)0.865/18147118360.8056189545461.03
NTES20190515pm6.3316.65(1.12)0.555/1865612760.51397729901.33
RYB20190515pm2.110.16166.672.005/18001.00321.50
VRTU20190515pm8.754.605.172.005/18301.00129991.30
ZTO20190515pm5.781.074.350.935/18172374.65318138340.83
ALC20190516?4.282.560.000.675/1811230.48741030.72
HUYA20190516?9.822.020.004.175/1817884444.0319141114101.68
PINS20190516?10.162.900.001.315/18341630641.1126038189471.37
AINV20190516am2.510.39(2.17)0.545/18001.0074810.91
DDS20190516am8.895.6915.000.395/1845310800.42232047520.49
EXP20190516am3.703.26(4.62)1.405/1814590.2481731130.26
FRO20190516am6.090.52(11.76)5.245/18114148.14332532931.01
KEM20190516am12.052.0315.050.195/1823122860.10452552620.86
MMYT20190516am8.491.9722.221.435/18531.6711526911.67
NGG20190516am4.152.260.001.485/188220.365239530.55
NICE20190516am4.245.613.5235.715/1831215.503126630.47
QIWI20190516am6.920.93118.1810.535/18001.00395637211.06
SFL20190516am2.040.26(57.58)142.865/184001.00152921570.71
WIX20190516am8.7112.0040.000.995/1840216110.25475055850.85
WMT20190516am3.773.806.021.825/18757137332.0379953515351.55

*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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