11/08/2018 Morning Brief


Federal Reserve officials are expected to keep interest rates steady at their two-day policy meeting that concludes later today. They will likely discuss the economy, financial markets and the future path of rates, among other topics.ET. Employers have added jobs at a steady pace, likely firming Fed officials' plans to raise rates in December. Their statement should again describe the labor market as strong. With the exception of the housing market which has been weakened by the rate hikes over the last year. Today’s Economic Reports: At 8:30 am ET Jobless Claims. At 2:00 pm ET FOMC is schedule to release a statement.

Equity markets –

S&P futures are trading lower this morning, (-0.26%)

Asian markets closed higher last night.

Close Change %Change

Nikkei Stock 22486.92 401.12 1.82

Hang Seng 26227.72 80.03 0.31

European indices are mixed this morning this morning.

Last Change %Change

FTSE 100 7150.44 33.16 0.47

Xetra DAX 11572.30 -6.80 -0.06

* U.S. stocks Futures point to a lower opening this morning as Wall Street waits for the 2:00 pm ET Fed Announcement.

Oil Prices

Oil prices are ticking higher this morning. The Energy Information Administration reported that the U.S. crude inventories rose 5.8 million barrels in the week ended Nov. 2. October was a record month for Chinese crude imports most likely due to increased orders ahead of the U.S. sanctions. Members of the Organization of the Petroleum Exporting Countries meet this weekend to discuss market fundamentals with expectations that they will contemplate a supply cut. WTI is currently trading at $61.88 a barrel and Brent Crude is at $72.24 a barrel.

Option Activity -

Bullish option activity in PG, SEAS & SYK

Bearish option activity in BBY, KMX & ZG

Upcoming Earnings

Ticker Company Straddle $move When Reporting (tentative)

DBX DropBox 9.13 $.2.28 Thur Afternoon

FNKO Funko Inc 13.30 $2.79 Thur Afternoon

YELP Yelp Inc 12.95 $5.81 Thur Afternoon

For earnings related news type .ERN into NewsWare

Wen Options Volumes (near term)

Ticker Call Vol Put Vol Call OI Put OI

DBX 3,898 1,457 5,879 3,805

FNKO 324 91 3,718 1,895

YELP 3,414 2,241 10,848 2,993

Sector Update:


LOW Gordon Haskett downgrades the stock to Hold from accumulate, $95 price target.

LB Reported Oct same store sales are up 4%.

RH Gordon Haskett lowers its rating to Hold from buy.

Drug Makers

BAX RBC lowers its price target to $70 from $76.

PG Calls are active going into its investor day.

BSTC HC Wainwright raised its price target to $81 from $72.


GOOG Reports indicate that the company is planning to expand in NYC, possibly adding 12,000 workers.

FB Facebook plans to quadruple the floor space at its international headquarters in Dublin

AAPL Morgan Stanley raised its price target to $253 from $226.


Dow 30:

CSCO To partner with AMZN on new hybrid-cloud solution.

WMT Unveils plans for to achieve best Black Friday ever.

DIS Expected to provide an update on its streaming service when earnings are released


TLRY Cannabis stocks jumped with Jeff Session’s departure.

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