Dow Futures Down Ahead of U.S.-China Trade Talks

A strong earnings showing from Walmart has failed to lift the Dow

Digital Content Manager
Feb 19, 2019 at 9:10 AM
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Dow Jones Industrial Average (DJI) futures are slipping as Wall Street anxiously awaits new information regarding trade negotiations between the U.S. and China. Another round of talks kick off today, with more senior-level officials set to meet on Thursday. Investors hope the two countries can hammer out a deal before March 1, when increased tariffs are set to go into effect. Elsewhere, Walmart (WMT) reported better-than-expected fourth-quarter earnings, sending the shares 3% higher in pre-market trading, but that hasn't been enough to lift Dow futures into the black. 

Continue reading for more on today's market, including: 

Futures Chart Feb 19

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.31 million call contracts traded on Friday, compared to 676,710 put contracts. The single-session equity put/call ratio fell to 0.52, and the 21-day moving average stayed at 0.61.
  2. McDonald's Corp (NYSE:MCD) stock is up 0.7% in pre-market trading, after an upgrade from Stephens to "overweight" from "equal-weight." The analyst cited strengthening business in the U.S. MCD stock hit an all-time-high of $190.88 in November, with subsequent pullbacks contained at the 120-day moving average. 
  3. Advance Auto Parts (NYSE:AAP) shares are 1.5% lower ahead of the bell, after fourth-quarter comparable-store sales fell short of analysts’ expectations. The company's revenue, however, matched forecasts. The car stock has found recent support at the $150 area, and just popped over its 100-day moving average -- a former area of resistance for the stock. 
  4. The shares of Honda Motor Co Ltd (NYSE:HMC) are up 2.3% in electronic trading, after announcing plans to shutter the company's single British plant by 2021. Honda cited a weakening global economy, denying that the shutdown has any relation to Brexit events. HMC stock has been pacing for its worst month since 2016, down nearly 9% before today's open.
  5. Cleveland Fed President Loretta Mester will kick things off with remarks in the morning. The economic schedule will feature the National Association of Home Builders (NAHB) housing market index. Plus, CoreCivic (CXW), FirstEnergy (FE), Herbalife (HLF), Medtronic (MDT), Noble Energy (NBL), and Sage Therapeutics (SAGE) will report earnings. 

stock market news feb 19

 

Mixed Markets in Asia; Europe Stocks Take a Hit on Bank Index Blues

Markets in Asia were a mixed bag today, as investors await another week of trade talks between the U.S. and China. Tensions between the two flared up again yesterday after China accused the U.S. of interfering with its tech development by stoking cybersecurity concerns. China's Shanghai Composite gained 0.05%, while Hong Kong's Hang Seng gave back gains in the final hour to finish 0.4% lower. Japan's Nikkei closed 0.1% higher, while South Korea's Kospi dipped 0.2%.

In Europe meanwhile, stocks are taking a hit thanks to a rough day from the banking index. London's FTSE 100 is down 0.7%, dragged lower by subpar profit numbers from financial stalwart HSBC. The French CAC 40 is down 0.4% and the German DAX is off by 0.2%, despite a strong earnings beat from trade-sensitive HeidelbergCement.  

 

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