Morning Reads

Morning Reads




Real Quick

  • S&P 500 futures are 0.4% below fair value; the Nasdaq 100 futures are 0.5% below fair value; and the DJIA futures are 0.3% below fair value
  • Key factors driving the futures market:
    • Rising Treasury yields
    • Q3 adjusted EBIT warning from Ford (F), which was blamed on higher supplier costs
    • Rate-hike worries after Sweden's Riksbank surprises with a 100 basis point increase in policy rate to 1.75%
    • Technical resistance at 3,900 for S&P 500
  • China aiming to ease entry requirements for foreign tourists, according to CNN
  • Germany's August PPI +7.9% month-over-month versus 1.6% expected and prior month's 5.3% increase
  • Japan's August National CPI +3.0% yr/yr versus prior month's 2.6% yr/yr increase
  • Judge has rejected antitrust challenges to UnitedHealth Group's (UNH) deal to acquire Change Healthcare (CHNG), according to The Wall Street Journal
  • The Fed's September FOMC meeting starts today. Rate-hike decision and release of Summary of Economic Projections at 2:00 p.m. ET Wednesday.
  • Brokerage research calls of note:
    • Upgrades: AMX, HUM, MLM, MORN, NCLH
    • Downgrades: WDC, WY, CX, CHNG, HUN, NKE, PYPL
  • WTI crude futures +0.2% to $85.87/bbl; nat gas futures +1.1% to $7.84/mmbtu; copper futures -0.3% to $3.50/lb
  • 2-yr note yield +3 bps to 3.97% and 10-yr note yield +5 bps to 3.54%
  • Today's economic data: August Housing Starts and Building Permits Report at 8:30 a.m. ET

Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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