US stocks were a few ticks above the breakeven point Tuesday morning after large losses earlier in the week. Crude oil is also showing a modest gain after losing ground on Monday. Stocks in Europe are lower, as the increase in coronavirus cases has pushed governments to put in place new measures to stop the spread. The Nasdaq is up 0.58%, the S&P is up 0.48%, the Dow Jones is up 0.36%.
Today’s Market Outlook
Quote of the day
The only sure weapon against bad ideas is better ideas.
Alfred Whitney Griswold
Stocks in motion
American International Group Inc (AIG), Cummins Inc. (CMI) and Las Vegas Sands Corp. (LVS) are advancing this morning, while Stanley Black & Decker, Inc. (SWK), Eli Lilly And Co (LLY) and Live Nation Entertainment, Inc. (LYV) are going down. United Parcel Service, Inc. (UPS), American Express Company (AXP) and Sirius XM Holdings Inc (SIRI) were upgraded by analysts this morning, while Waste Management, Inc. (WM), Catabasis Pharmaceuticals Inc ( CATB) and Sunrun Inc (RUN) were demoted.
Inventories in Asia are mixed. The Mumbai Sensex is up 0.94%, the Shanghai SE Composite Index is up 0.1%, the Nikkei 225 is down -0.04%, the Hang Seng is down -0, 54% and the Australian ASX All Ordinaries is down -1.73%. In Europe, stocks are mixed. The FTSE 100 is up 0.15%, the DAX is 0.02%, the Euro Stoxx 50 is down -0.11% and the CAC 40 is down -0.55%.
Futures and currencies
The future of energy is in place today. The price of West Texas Intermediate crude oil is up 0.33 to 38.89 per barrel. Brent crude is up 0.28 to 40.74 per barrel. Natural gas is up 0.01 to 3.04. Precious metals are up this morning. Gold is up 0.68 to 1,902.76 an ounce. Platinum is up 8.34 to 882.95 while Silver is up 0.02 to 24.44. The dollar is falling against major currencies today. The greenback is down against the euro, down against the yen and down against the pound.
Put / Call Ratio
Yesterday 1,224,489 buy contracts were traded on the Chicago Board Options Exchange (CBOE) against 724,081 sell contracts. The put / call ratio for a single session was 0.59.
Today’s economic calendar
|No.||What is happening?||Period||Release time|
|2||FHFA House Price Index||Oct||9h00|