Stock Futures Slip as Trade Uncertainties Swirl

The Dow is set to open lower after its record close on Friday

Managing Editor
Nov 18, 2019 at 9:16 AM
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Fresh off Friday's 11th record close of 2019 and first-ever trip over 28,000, Dow futures are indicating a slightly negative open this morning after a report indicated Chinese officials are pessimistic about the prospects of a trade deal with the U.S. More specifically, Beijing is said to be troubled by President Donald Trump's recent protestations over a mutual tariff rollback. Wall Street is also unpacking weekend reports that the Trump administration is on the verge of extending licenses for U.S. companies to work with Chinese tech giant Huawei. 

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

  • 2 stocks blasted by options traders. 
  • Watch for this REIT to hit new highs next month. 
  • Plus, Ford rolls out Mustang Mach E; Xerox takes a breather after HPQ rejects offer; Boeing gets big SunExpress order. 

Stock Futures Chart Nov 18

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.62 million call contracts traded on Friday, compared to 792,024 put contracts. The single-session equity put/call ratio moved down to 0.49, while the 21-day moving average came in at 0.61.
  2. The shares of Ford Motor Company (NYSE:F) are up 1.5% in electronic trading after announcing the Mustang Mach E, the company's first all-electric SUV. F has remained confined by its 80-day moving average in the last six months, but is on pace to challenge this resistance in today's trading.
  3. Xerox (NYSE:XRX) stock is down 1.7% ahead of the bell, after HP Inc (NYSE:HPQ) rejected the printer maker's $33.5 billion cash-and-stock takeover offer. HPQ representatives say the offer "significantly" undervalued the tech company -- but expressed willingness to explore a bid to acquire Xerox. XRX settled Friday at an 11-year closing high of $38.94, just short of a year-to-date double.
  4. The shares of Boeing Co (NYSE:BA) are up 0.5% in electronic trading, after Turkish airliner SunExpress ordered 10 additional 737 MAX aircraft worth $1.2 billion at list prices. Boeing stock broke out above its 200-day moving average on Friday, and could now attempt to notch its highest close in a month. 
  5. The Empire State manufacturing index data, import and export prices, and business inventories are out today. JD.com (JD) will report earnings.

buzz stocks nov 18

Stimulus Hopes Boost Shanghai; European Stocks Flat

Stocks in Asia settled mostly higher, bolstered by fresh stimulus hopes after the People's Bank of China (PBOC) trimmed its seven-day reverse repo rate for the first time since 2015. Hong Kong's Hang Seng rose 1.4%, while China's Shanghai Composite gained 0.6%. Japan's Nikkei was close behind, climbing 0.5%, but South Korea's Kospi lagged its regional peers by backpedaling 0.07% on a weak session for industrial stocks.

European markets are little changed at midday, with no major earnings or economic data to steer stocks. However, there's some M&A news to consider; Germany's Qiagen is reportedly exploring a sale, while Euronext and SIX are poised for a potential bidding war over Spanish exchange BME. At last check, London's FTSE 100 is up 0.3%, the German DAX is off 0.2%, and the French CAC 40 is 0.07% lower.

 

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