NewsWare Morning Highlights

Commentary, News

MORNING NOTES:

S&P’s this morning High 308.58 Low 307.50 Change higher by 0.02%.

Tokyo +26.50 Hong Kong -196.09 London -28.67 Germany -48.01

Futures are indicating a slightly higher opening today. Media reports on “fierce internal opposition” on the removal of tariff as part of the U.S. China trade deal is likely to create cautionary selling pressure today. DIS is up almost 6% this morning after reporting earnings yesterday afternoon. Asian stocks ended flat to slightly mixed overnight. The Hong Kong market experienced selling pressure, Property Developers were the worst performers. Hong Kong is losing is in danger of losing its position as the leading financial hub in Asia to China and Singapore. China’s Shanghai composite index closed lower by 0.49. European stocks are trading lower due to the U.S China trade talks developments.


OIL PRICES: Oil prices are trading lower this morning. Fresh worries over U.S.-China trade talks unnerved markets, offsetting better-than-expected trade data from China showing that exports and imports contracted less than expected in October. While the progress on the trade talks is more positive now than in October, it’s clear that phase 1 of the trade deal continues to be in jeopardy due to the tariff rollbacks issue. News of the snag is weighing on global sentiment and economic growth prospects. Later today Baker Hughes will be releasing it’s rig count figures for last week.WTI is at $56.30 a barrel, Brent Crude is at $61.41 a barrel.         For news on oil type in .OIL or “OPEC” into NewsWare


Economic:    Federal Reserve Bank of Atlanta President Raphael Bostic saidThursday that he isn’t looking for the U.S. central bank to lower rates again.  “I do think that the economy today is on solid footing and is likely to remain so,”. When it comes to the outlook for short-term rate changes, he said “I am fairly comfortable standing pat with policy and strongly favor weighing the incoming data, both macro and micro, over the coming months before deciding on any further adjustments.” Mr. Bostic said. Additionally, “the trade situation has remained murky, firms affected by tariff increases have also indicated they have adjusted supply chains and taken other steps to mitigate tariffs.”


Economic Reports: .
At 10:00 am ET University of Michigan’s Consumer Sentiment and Wholesale Trade figures.
At 01:00 pm ET Baker Hughes Rig Count figures

Fed Speak:
At 11:45 am ET San Francisco Fed Bank President Mary Daly is scheduled to speak.
At 08:00 pm ET New York Fed Bank President John William is scheduled to speak.
At 08:35 pm ET Fed Governor Lael Brainard is scheduled to speak.
To access Economic news type .Economic into NewsWare.

Options Activity:

Bullish option activity in BABA, DIS & YELP
Bearish option activity in BA MED & YNA
To access news related to options type .OPTIONS into NewsWare

Sector Update: Headlines to Note-
Retail
FL .REC Susquehanna upgrades to Positive, Raises PT to $55 from $39
TJX .REC Nomura initiates coverage with a Buy rating and a $65 price target.
GPS .ERN Miss on earnings, Lowered guidance & the CEO stepped down.

FDA / Drug Makers
IOVA P/SGN Co. sees evidence of durability with lifileucel therapy.
AIMT P/SGN Announced positive phase 3 trial results.
NXTC .CC Webcast event on Sat with an update on their phase 1 trial for NC318

Dow 30
CAT .REC Goldman raises its price target to $156 from $130.
WMT .REC Nomura initiates coverage with a Buy rating and a $132 price target.
DIS .REC Wells Fargo lowers its price target to $167 from $173.

FANG
GOOG P/SGN Concerns are being raised on the firms advertising practices.
FB Peri.Fly EU regulator Vestager not on board to break up U.S. ‘Big Tech
GOOG Hots.Fly In advanced talks with Telcom Italia on a strategic partnership

Rumors
SPY P/SGN Reports indicate that Michael Bloomberg is preparing a presidential bid.
TSN .ERN Priced for a $4.5 move once eps is announced Tuesday morning.
DDS .ERN Priced for a $13.00 move when earnings are announced on Nov 12.


Upcoming Earnings Expected dollar move and options volumes from 11-7


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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