NewsWare Morning Markets Recap

MORNING NOTES:                          

S&P futures are trading higher this morning.   Equities markets look to open up higher this morning.

Positive earnings reports from retailer RH & LULU, A significant price upgrade on DIS and Trump’s statement about a meeting with China’s President are breathing positive momentum into the markets this morning. Oil Prices are trading higher as well on concerns of the possibility of supply disruptions. In the Asian markets, Hong Kong experienced slight loses mainly due to the continuation of street protests, Tokyo was lower due to global economic concerns. China markets posted modest gains.  In Europe, the FTSE is higher due to the jump in oil prices and the DAX is off its highs, but still in positive territory as their markets are expecting stimulus measures from the ECB.

S&P’s Overnight          High  289.77        Low   287.71    % Change higher by 0.27%

Oil Prices:

Oil prices are trading higher this morning.    Crude oil prices are rising this morning after reports of an oil tanker attacked in the Gulf of Oman.  Tensions are on the rise in the Gulf region as this is the second attack on oil tankers in the past 30 days. The key issue for today is the safety of tankers as they navigate through the Strait of Hormuz. This is a very narrow waterway and 30% of the world’s oil supply travels through this chokepoint. 30 years ago, the US Navy had to intervene and escort oil tankers through this shipping lane to help protect the worlds oil supply. Yesterday the U.S. Energy Information Administration released its crude-oil stockpiles figures which displayed an increase of 2.2 million barrels as compared to the previous week. Trimmed its forecast for growth in world oil demand this year to 1.14 million barrels a day, down 70,000 barrels from its May estimate of 1.21 million barrels. Oil traders will be paying attention to the monthly oil report due out from the International Energy Agency scheduled for release tomorrow.

WTI is at $53.01 a barrel, Brent Crude is at $62.26 a barrel.     

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

 Economic:                                              

Consumer prices were flat to higher in May, indicating moderate inflation. The main sectors of increased inflation were seen in rents & healthcare.  The members of the FOMC committee pay close attention to the CPI as a key indicator for adjustments in monetary policy.  Yesterday’s figures displayed little evidence to support the conclusion that a cut is needed in next week’s FOMC meeting.

Economic Reports:  At 8:30 am ET Jobless Claims and a report on Import/Export prices.

  To access Economic news type  .Economic into NewsWare.

Options Activity:           

Bullish option activity in             AVGO, BB & KTOS

Bearish option activity in            CL, FIZZ & USB

To access news related to options type  .OPTIONS into NewsWare

Sector Update:

Retail

CASY     .REC     Stephens raises its price target to $165from $143

LULU     .REC     Stifel raised its price target to $209 from $187.

RH        .ERN    Beat on eps yesterday and raised guidance for 2019.

FDA / Drug Markets

MNK     P/SGN   Acthar gel Phase 4 study met primary/secondary endpoint.

PRVB    P/SGN  Terminated planned stock offering.

ABBV    P/SGN Positive results in phase 3 study for Psoriatic Arthritis 

Dow 30

DIS       .REC     Morgan Stanley raises its price target to $160 from $135.

V           .REC    Wedbush raised its price target to $187 from $170.

IBM       P/SGN  FDA chose IBM,MRK&WMT to track/trace drug distribution.

FANG

NFLX     Hots.Fly     To offer mobile games based on its original content.

GOOG   P/SGN        Overhauling is governmental lobbying efforts.

AMZN   P/SGN         Expanding its grocery home delivery service in the UK.

Rumors

SPY       P/SGN     Trump says he will meet with China to restart trade talks.

TSN       P/SGN     Introducing plant-based nuggets and burgers.

BABA     Hots.Fly  Confidentially files for a Hong Kong listing of its shares.

Upcoming Earnings Announcements and the expected move.

_{*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.}