Dow Futures Slip as Wall Street Eyes Trade Talks, Fed Minutes

The Fed's January meeting minutes will be released this afternoon

Deputy Editor
Feb 20, 2019 at 9:08 AM
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Dow Jones Industrial Average (DJI) futures are marginally lower today, as Wall Street remains focused on U.S.-China trade talks. Specifically, President Donald Trump hinted at a possible extension to the March 1 deadline, when tariffs on Chinese imports are set to increase. Elsewhere, traders are awaiting the Federal Reserve's minutes from its January policy meeting, which could provide more insight to the central bank's next interest rate moves.

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

Futures Chart Feb 20

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.01 million call contracts traded on Tuesday, compared to 620,374 put contracts. The single-session equity put/call ratio rose to 0.61, and the 21-day moving average stayed at 0.61.
  2. Henry Schein, Inc. (NASDAQ:HSIC) stock is down 7.1% in pre-market trading, after a fourth-quarter revenue miss and a disappointing profit forecast. The dental supply concern is now set to break its six-day winning streak, and flashed a bearish signal just last week. 
  3. CVS Health Corp (NYSE:CVS) shares are 7.4% lower ahead of the bell, after the company’s full-year profit guidance fell short of analysts' expectations. CVS stock has been on the rebound since its December lows, but may have run into a wall at its 200-day moving average.
  4. The shares of Garmin Ltd. (NASDAQ:GRMN) are up 5.6% in electronic trading, after announcing fourth-quarter earnings and issuing a full-year revenue forecast above analysts' forecasts. The GPS maker also announced a proposed dividend hike. GRMN has staged an impressive rally in 2019 – up more than 12% -- and is now expected to hit 11-year highs today. 
  5. MBA mortgage applications are on the economic schedule. Quarterly earnings from Agilent Technologies (A), Albemarle (ALB), Analog Devices (ADI), Avis Budget (CAR), Bausch Health (BHC), GoDaddy (GDDY), and Vipshop (VIPS) are also due.

stock market news feb 20

 

Asia Boosted on Trade Optimism; Brexit Breakthrough "In God's Hands"

Asian stocks finished higher today, buoyed by optimism that a U.S.-China trade consensus could soon be reached. Investors everywhere were relieved to hear Trump once again say that the March 1 deadline was not a "magical date." In addition, a report surfaced yesterday that the U.S. had requested that China keep the yuan stable as a part of the upcoming trade deal. China's Shanghai Composite spent time on both sides of breakeven but finished 0.2% higher, while Hong Kong's Hang Sang gained 1%. Japan's Nikkei added 0.6%, while South Korea's Kospi paced its regional peers with a 1.1% win.

In Europe, markets are cautiously climbing, as exporters edge higher amid US.-China trade deal progress. London's FTSE 100 is up 0.2%, at last check, ahead of a key consumer confidence reading this afternoon. U.K. Prime Minister Theresa May will meet with European Commission President Jean-Claude Juncker in Brussels later today, too, though Juncker warned it may not be a "productive discussion" and a Brexit breakthrough at this point was "in God's hands." Elsewhere, the German DAX is up 0.4%, while the French CAC 40 is 0.2% higher. 

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