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HomeMorning Brief

10:50:49 AM EST - Tuesday, February 19, 2019 U.S. Stock Markets close in 5 hours, 9 minutes.

New FRT Features: Top 50 Portfolio Updated for February.

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Thursday, August 9, 2018

Economic 

So far, tariffs and threats have resulted in minimal disruption in economic trends.  The U.S. merchandise trade deficit with China was the widest on record during the first six months of the year. In Fed Speak, Chicago’s Fed president Charles Evans is schedule to speak about current economic conditions and monetary policy in a closed group interview with representatives of Associated Press, Bloomberg, Dow Jones, Market News International, MarketWatch and Reuters, in Chicago. Notes from the discussion will be embargoed until 1:00 pm ET. On today’s economic calendar; Jobless Claims and the Producer-Price Index for July due out at 8:30 am ET.  At 10:00 am ET Wholesale Trade figures are to be announced. 

 

Equity Markets

S&P futures are higher this morning     +0.04%: 

Asian markets were mixed overnight.      

                                                           Close         Change        %Change

Tokyo               Nikkei Stock        22598.39           -45.92            -0.20

Hong Kong        Hang Seng         28607.30        248.16              0.88

European indices are trading lower this morning. 

                                                        Last           Change       %Change     

London         FTSE 100               7719.93               -56.72          -0.73

Frankfurt       Xetra DAX            12612.30             -21.24           -0.17

* Futures are trading higher this morning. Jobless claims for the week ended August 4 declined by 6,000 to a seasonally adjusted 213,000, according to a Labor Department report.  

 

Oil Prices   

Oil prices were ticking higher this morning.  The U.S. Energy Information Administration released its data on crude stocks yesterday. According to their data U.S. crude stocks fell by 1.4 million barrels (less than expected). Oil prices traded significantly lower yesterday on the concern that WTI oil would be pulled into the ongoing U.S / China trade issues. With the Chinese economy slowing, it is expected that their demand for oil will diminish in the short term. Earlier today, Russia agreed to remove their crude oil export duty by 2024. WTI is currently trading at $67.00 a barrel and Brent Crude is at $72.39 a barrel.   

 

 

Option Activity -       

Bullish option activity in            AA, DDD & IBM

Bearish option activity in           DBD, DISH & NLSN

 

 

Ticker   Name                Straddle            $ move             When        Call Put ratio

DBX      DropBox Inc         8.93              $2.82            Thur Afternoon     2.53

WTTR   Select Engy Ser   8.24              $1.28            Thur Afternoon     4.69

SYY     Sysco Corp           3.49               $2.44             Fri  Morning         2.92

 

 

 

Sector Update: 

Retail

TGT      Morgan Stanley raised its price target to $70 from $64.  

COST   UBS raised its price target to $255 from $225.

RAD     Calls off their merger plans with Albertsons.

                                                                                                                         

 

Drug Makers

MYL      Morgan Stanley lowers it price target to $46 from $50.

BMRN   Citi raises their price target to $120 from $108.

CELG   Looking to go private at $120 a share.

          

                                  

FANG                                                                                

AMZN   Party City announced its intention to sell select product assortments on Amazon.com.

FB         L'Orea, ModiFace announce long-term collaboration with Facebook

 

 

Dow 30

WMT     Raised 500m with JD.Com for Chinese online grocery delivery company.

INTC     Morgan Stanley downgraded the Semi-Conductor Industry to Cautious.

 IBM     Along with Maersk have introduced TradeLens , a Blockchain Shipping solution.

 

 

Rumor

TRCO   Stock trading higher after terminating Sinclair merger agreement.

 

           

                                                                                                                 

  *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.

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