May 11 2018 Market Updates

Equity markets – 
S&P futures are trading higher this morning, (0.04%)

 

Asian markets were higher overnight.
Latest            Change      % Change
Tokyo Nikkei Stock                    22758.48        261.30          1.16
Hong Kong Hang Seng            31122.06         312.84          1.02

 

European indices are higher this morning.
Latest            Change        % Change
London FTSE 100                      7701.71             0.74           0.01
Frankfurt Xetra DAX                 12984.35          312.84          1.02

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* US stock futures indicate a slightly higher opening.At 2:00 pm ET, Trump is to speak on his plan to lower the cost of prescription drugs.

 

 

Oil Prices 
Oil prices are trading flat to lower this morning. Earlier this morning it was reported that Iran’s Oil Minister Bijan Namdar Zangeneh said “there’ll be no significant difference in the export of oil, gas and gas condensate, and foreign exchange earnings won’t be affected.” As a results of Trumps re instituting sanctions. Traders will be paying close attention to the weekly data from the Baker Hughes report on the
number of rigs drilling for oil in the U.S. Oil traders belive that this is a key barometer for activity in the sector.  WTI is currently trading at $71.38 a barrel and Brent Crude is at $77.41 a barrel.
To access Oil news type .Oil into NewsWare.

 

 

Economic
CPI data came in lower than analysts estimates, indicating that inflation fears are easing. The U.S., Canada and Mexico are focusing on rewriting the auto rules at the center of the North American Free
Trade Agreement as negotiators face hard deadlines to wrap up a new deal. That could mean less
drastic changes to other controversial parts of NAFTA.  Congress has advised the White House to
“modernize Nafta in ways that expand trade opportunities without curtailing American consumers
freedom.”  For Economic news, type .economic into Newsware.

 

Option Activity – 
Bullish option activity in            JNPR, PBR & IQ
Bearish option activity in           FIT, LCI & CPB
To access news related to options type .OPTIONS into NewsWare.

 

Upcoming Earnings

Company                  Ticker          Straddle Price        Dollar move
Telecom Argentina    TEO                  13.50                    $3.28
Mazor Robotics Ltd.  MZOR                 7.77                    $4.32
Qudian Inc.               QD                    16.89                     $1.85
*Straddle prices do not give a direction, but can be used to determine the dollar move.

For Earnings related news stories type .ERN into NewsWare.

Sector Update:

Retail
KSS     Credit Suisse downgrades stock to Neutral and lowers price target to $64 from $72.
AEO    Wedbush initiates coverage with an Outperform rating and a $25 price target.
LB        Morgan Stanley said “L Brands’ move after April update seems overdone”,

Drug Makers
ALKS     BofA initiates overage with a Buy recomendation and a $56 price target.
HALO    Barclays downgraded the stock to Underweight from equal weight.
SRPT     Barclays upgrade the stock to Overweight from equal weight.

 

 

FANG
FB           Newly released documents show how the Russians used FB in their propaganda campaign.
AAPL       To partner with Goldman Sachs on a new credit card.
GOOG     EU battle on data privacy is set to change the personal data requirements of many co.

Dow 30
VZ            JP Morgan upgrades the stock to Overweight with a $58 price target.
PFE          SunTrust lowered its price target to $37 from $40.
INTC         Citi reaffirms it $64 price target .

Rumors
JPM           Seeking to acquire a 51% stake in a Chinese Securities venture.

*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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