THE MARKETS
US Pre-Market Quotes.

DOW -0.01%
SPY -0.04%
QQQ -0.03%

OPENING BELL

New York looks to open marginally lower; US premarket index futures slightly negative into the opening bell as the equity markets remain largely attuned to global trade developments – President Donald Trump stated on Friday that he may not impose further tariffs on Chinese goods.

US equities recorded a puzzled session, Friday, major market indices ended the session mixed as Real Estate (+1%) and Utilities (+1.5%) sectors surged followed by President Trump expressing guarded optimism over US-China trade ties, stating; China “wants to make a deal”, which offset a lackluster day for the Technology sector (-0.16%).

The S&P 500 rose +0.26%, led by the Utilities sector as Pacific Gas & Electric (PCG), swung +37% higher after comments from the head of the state’s utilities regulator eased investors’ concerns about potential wildfire costs.

The Real Estate sector also took a swing higher, Home-Builders positive +7.9%.

The tech-heavy Nasdaq, ended the session negative -0.2%, largely shaking off much of its early morning losses after Nvidia (NVDA) issued a weaker than expected revenue forecasts, partly due to waning demand from cryptocurrency mining, plunging -18%; Advanced Micro Devices (AMD: -3.86%) also slipped.

The Dow rose by +0.5%, but then pared those gains, ending the session +0.33% higher after White House officials stated; the president was just being upbeat about negotiations with China.

Week-on-week the S&P 500 retreated -1.6% with the Dow and Nasdaq down more than -2% each.

Uncertainties surrounding tariffs are likely remain center-stage this week; paired with developments in the UK surrounding Brexit, which despite playing out 3,500 miles away from Wall Street, could roil into the global the financial world.

On today’s data front, the NAHB is expected to publish its survey for November at around 10:00am ET.

In corporate earnings news; JD.com (JD) is scheduled to report their latest figures before the opening bell. While; L Brands (LB) and Pure Storage (PSTG) are expected to release their latest quarterly earnings after market close.

 

TODAY’S TOP HEADLINES

United Kingdom: Brexit deal puts UK’s economic success first, leader Theresa May tells British industry. (CNBC)

May’s appearance at the annual conference of UK business leaders comes amid turbulent times in the country’s politics. Over the last week, we’ve seen the announcement of a draft withdrawal agreement (in plain English, a draft Brexit deal) between the UK and European Union followed by a pronounced rebellion from both Brexiteers and Remainers in the UK parliament that both don’t like the deal.

Cryptocurrency: Bitcoin Tumbles Toward $5,000. (Bloomberg)

Cryptocurrencies resumed their slump on Monday, with Bitcoin falling within 5% of the $5,000 mark in the wake of a split of one of the largest major tokens.

United Kingdom & Europe: European markets higher despite Brexit turmoil. (CNBC)

The pan-European Stoxx 600 was up around +0.3% during mid-morning, with most sectors and major bourses in positive territory.

ECONOMIC CALENDAR

Today’s Economical Announcements

10:00AM – NAHB Housing Market Index (Nov) (Previous: 68)

10:45AM – FOMC Member Williams Speaks

 

STOCKS IN THE SPOTLIGHT
Pre-Market Movers & News Related Stocks.

PG&E (PCG): [NEWS] Reported a second power outage on the morning of November 8, the day the deadly Camp Fire started in Northern California. The news came in a report filed with the California Public Utilities Commission. The company said it is cooperating with any investigations, with officials currently probing whether the utility’s equipment caused the fire.

Cimarex Energy (XEC): [BUYOUT] The oil and gas company will buy Resolute Energy (REN) for $35 per share in cash and stock, or about $1.6 billion including assumed debt.

JD.com (JD): [EARNINGS] Reported a mixed quarter, beating analysts’ estimates on the bottom line. Revenue fell short of estimates.

Apple (AAPL): [NEWS] Apple is cutting production for the newest iPhone models, according to sources quoted by The Wall Street Journal.

Big Lots (BIG): [UPGRADE] Upgraded to “overweight” from “neutral” at Piper Jaffray.

Blackstone (BX): [BUYOUT] Colfax (CFX) will buy DJO Global from private-equity funds managed by Blackstone for $3.15 billion in cash.

Booking Holdings (BKNG): [UPGRADE] Upgraded to “outperform” from “market perform” at Wells Fargo.

General Electric (GE): [NEWS] GE was warned by a consultant this past summer of corruption allegations against business partners in Iraq, according to a Wall Street Journal report.

Boeing (BA): [NEWS] Issued a statement saying it continually incorporates lessons learned from various incidents into its recommended procedures and airworthiness directives.

Walgreens (WBA), CVS Health (CVS): [NEWS] Walgreens and CVS were sued by the state of Florida, which accuses the nation’s two biggest drugstore chains of not taking precautions to stop illegal sales of opioids.

Kimberly-Clark (KMB): [NEWS] Called off the sale of its European tissue business, according to the Financial Times, after offers came in below Kimberly-Clark’s $1.2 billion target price.

Spotify (SPOT), Pandora (P): [NEWS] The music streaming services are increasingly turning to podcasts to boost profits, according to The Wall Street Journal.

TD Ameritrade (AMTD): [UPGRADE] Upgraded to “buy” from “neutral” at UBS.

MOMENTUM STOCKS

GAINERS: –
LOSERS: NVDA, JWN, SNH

TODAY’S IPOs

None.