NewsWare Morning Highlights

Commentary, News

Tuesday 10/09/2019

MORNING NOTES: 

S&P futures are higher this morning. It is being reported that China is looking for a limited trade deal and they are willing to purchase 50B in agricultural products. The limited trade deal is said to contingent on the U.S. making a concession to not impose any additional tariffs. Also, later today the Sept FOMC meeting minutes will be released. Asian markets were mainly lower as the positive news on the Chinese trade position had not come out yet. Shanghai closed higher by 0.39% In Europe markets are broadly higher this morning. The “no deal” Brexit issues have appeared to ease, and positive trade talks are pushing their markets higher today.

S&P’s Overnight         High 293.08.  Low  290.49 % Change lower by 0.93

Tokyo -131.40, Hong Kong -210.59, London +49.36, Germany +144.89


Oil prices are flat to higher this morning. The oil prices are struggling to move higher as trade tensions and demand concerns weight on traders’ positions. Yesterday the Energy Information Administration announced its estimates U.S. crude production. The EIA is looking for production to increase to 1.27bpd in 2019 and to 13,7bpd in 2020. The American Petroleum Institute reported their stockpile estimates.  The API data displayed a rise in crude oil inventories of 4.1m barrels. Later this morning the official data from the Energy Information Administration will be released. 

WTI is at $52.87 a barrel, Brent Crude is at $58.48 a barrel.         

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


Economic:                                    

This afternoon the Fed will be releasing the meeting minutes of its Sept meeting. Traders will be looking for insight into FOMC members interest rate outlook. Fed Chairman Jerome Powell is schedule to speak again today in Kansas City. In a speech yesterday Powell discussed the possibility of economic stimulus measures not related to a rate cut. Trade discussions continue to dominate. It is being reported that China is open to a limited trade resolution with the U.S. as long as no more tariffs are imposed by the Trump Administration.
Economic Reports:                        At 10:00 am ET     JOLTS Report & Wholesale Trade Figures.At 10:30 am ET     EIA Petroleum Status ReportAt 02:00 pm ET    Release of the FOMC September meeting minutes.  Fed Speak:                       At 11:00 am ET   Fed Chairman Jerome Powell & Kansas City Fed’s Esther George.                                                                     To access Economic news type  .Economic into NewsWare

Options Activity:                                                                              Bullish option activity in       AAL, LK & SEBearish option activity in    CHWY, IRBT & NTES
To access news related to options type .OPTIONS into NewsWare

Sector Update: Headlines to Note
Retail

TGT     P/SGN  Target is said to be partnering with ToysRUS to relaunch its website.DLTR   P/SGN Company indicates it will be hiring 25k associates at his Oct 16th hiring event.FAST  .ERN   Straddle is priced for a $2.10 move when earnings are released on Thursday. 

FDA / Drug Markets

AZN     .REC        Deutsche Bank is positive on the stock ahead of earnings.NNVX   P/SGN     Initiates bio-analytical studies in NV-HHV-101.OCGN  P/SGN     Plans to repurchase up to 2m in stock..             

 Dow 30

TRV     .REC        UBS lowers its price target to $145 from $152.JNJ     P/SGN      Jury awarded 8B verdict against JNJ on antipsychotic Risperdal.DIS     .ERN        JP Morgan cuts estimates on DIS.

FANG

AAPL     .REC        Canacord raises its price target to $260 from $240.GOOG   P/SGN      To release 5G smartphone may be unveiled next week.NFLX    .REC         Rosenblatt lowers its price target to $265 on competition fears.                       

Rumors                                                                       

SPY      P/SGN     China appears ready make large purchase of U.S. Agricultural products.XOM     .MA         Considering a sale of its Malaysian upstream offshore assets.IRBT      .REC       Likely to open lower on Raymond James downgrade to Underperform.


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