NewsWare Top Stories and Earnings

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NewsWare Top Stories and Earnings
 
Thursday 1/23/2020
 
MORNING NOTES:      
 
S&P’s this morning        High 331.38 Low 330.85 Change -0.15%
 
Tokyo -235.91  Hong Kong -431.92 London -29.34 Germany  -60.16
 
S&P Futures are trading lower this morning. Key factors today include Corporate Earnings, Jobless Claims report, The deadly virus outbreak in China & a policy statement from the ECB.
 
Asian Markets were mostly lower on overnight amid worries about the spread of the deadly coronavirus outbreak in China just as the week-long Lunar New Year holidays starts on Friday, when millions of Chinese travel domestically and abroad. In an unprecedented move, the government has locked down the city of Wuhan, where the first cases of the
virus were reported.  The death toll from the virus has risen to 17 in China, with more than 570 cases confirmed. The Shanghai Composite index closed lower by -84.23 to end the session at 2976.53.
 
European stocks are lower this morning ahead of a European Central Bank meeting. Trading is cautious as a result of the China situation where the government is attempting to stem the spread of a deadly respiratory illness. Traders are also concerned with the resurfacing of a trade war with the U.S. after comments made by President Donald Trump in Davos at the World Economic Forum.
 
 
 
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OIL PRICES:
Oil prices are trading lower this morning. Oil’s price drop comes amid broader demand fears with a newly identified virus in central China continuing to spread and follows other data this week showing weak oil-demand growth and weakening global economic growth forecasts. On the supply side, Guyana is likely to become a key factor in the global oil market and has started exports of crude oil. The South American nation in conjunction with Exxon is expected to add 100,000 barrels per day to the global supply. The American Petroleum Institute data released Wednesday showed a slight build in U.S. crude stocks. Their estimates indicate that inventories of crude oil in the US rose by 1.6M bbls in the latest week.
 
WTI is at $55.80 a barrel, Brent Crude is at $62.34 a barrel.        
 For news on oil type in .OIL or “OPEC” into NewsWare
Economic:    
E.U. rade worries continue to gain attention after comments made by
President Donald Trump yesterday. President Trump met with the EU president Ursula von der Leyen on Tuesday and he told her that without a deal,he’d have to implement “very high tariffs on their cars and other things.” Earlier today the Dutch Prime Minister said in an interview that he is optimistic on the prospects of the E.U. and the U.S reaching a trade deal. The European Central Bank made its policy statement today, They have decided to key interest rates left unchanged at minus 0.5%, The ECB will maintained the pace of its bond-purchase program at EUR20 billion per month. The central bank reiterated that bond purchases will continue for “as long as necessary” though it said that they would end shortly before a rate rise. The ECB has kept monetary policy on hold since it last cut rates by 10 basis points in September 2019 and resumed its bond-purchase program in November of the same year.
 
 
Economic Reports: 
At 08:30 am ET Jobless Claims
At 10:00 am ET Leading Indicators
At 11:00 am ET Kansas City Fed Manufacturing index & EIA Petroleum Status report.
At 04:30 pm ET The Fed’s Balance Sheet.
 
 
Fed Speak:  
 
To access Economic news type  .Economic into NewsWare.
 
 
Options Activity:                                                                            
Bullish option activity in   APT, ELAN & SPCE
Bearish option activity in MGM, MOMO & SPR
To access news related to options type .OPTIONS into NewsWare
 
 
Sector Update: Headlines to Note-
 
Retail:
LB       .REC    Double Upgrade by Barclay’s to Overweight, Price target is $30.
DLTR   .REC     BofA downgrade to Neutral from buy, $95 price target.
AMZN   P/SGN  U.S / France said to have a framework on digital tax issue.
 
FDA/Drug Makers:
EPZM    P/SGN  Awaits the FDA decision on its NDA for Tazemetostat – PUDFA date is 1/23.
AGTC    P/SGN  Announced positive data on phase I/II gene therapy study.
PTCT     P/SGN  Announced FIREFISH study met primary endpoint.
 
DOW 30:
AAPL   .REC   BofA lifts its price target to $340 from $330.
INTC    .ERN   Earnings report due after the close, a $2.90 move is expected.
V          .REC   Morgan Stanley lifts its price target to $240 from $220.
 
Rumors:
SPY     P/SGN   France and the U.S are said to be close to an agreement on Digital Tax.
SWK      .ERN   Earnings due after the bell a $7.50 move is expected.
AXP       .ERN   Earnings due tomorrow morning, a $3.5 move is expected.
 
 
 
 
 
Upcoming Earnings and yesterdays near term option volumes.
To filter news by earnings type .ERN or tie to ticker by typing AAL & .ERN
 
 
 *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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