Sweden’s Central Bank has reversed course on its negative interest rates policy as it expects inflation to tick higher. In an interview yesterday New York Fed Bank President John WIlliams said “We are in a very good position in terms of providing liquidity, providing reserves of the system, and importantly keeping the federal-funds rate in the range through the year and making sure that markets are operating smoothly,” The central bank’s repurchase or repo operation was in response to events that kicked off three months ago. Just ahead of the September FOMC meeting, short-term rates surged unexpectedly. Financial firms operating in that market pulled back from lending to one another. That drove short-term rates higher and the federal-funds target rate rose beyond its set range. The Bank of England left its key interest rate unchanged Thursday, citing “tentative” signs that global economic growth has stopped slowing.
Economic Reports: .
At 08:30 am ET Jobless Claims, Phil Fed Business Outlook & the Intl Trade Balance.
At 10:00 am ET Existing Home Sales & Leading Indicators
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Bullish option activity in FB, MLCO & YETI
Bearish option activity in AA, SDC & TXN
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Sector Update: Headlines to Note-
LB .REC Deutsche Bank raises its price target to $22 from $20.
KMX .ERN To release earnings tomorrow, stock is priced for a $5.40 move.
BIG .Options Big Lots experience unusual call volumes yesterday.
AXSM .IPO Announced 2m spot secondary, offering priced at $87 a share.
NERV P/SGN Phase 2 trial missed its primary endpoints.
URGN P/SGN FDA granted priority review for UGN-101
CSCO .REC Barclays upgrades the stock to Overweight with a $53 price target.
MCD .REC Morgan Stanley raises its price target to $230 from $214.
NKE .ERN Earnings due out today after the bell. Priced for a $4.50 move.
NFLX .REC Pivotal Research raises its price target to $425 from $400.
GOOG .REC Baird says GOOG e-commerce opportunity underappreciated by the markets.
NFLX .REC Goldman feels NFLX subscriber growth expectations are too low
SPY P.SGN Speaker Pelosi likely to stall on sending Impeachment articles to Senate.
TIVO .MA To merge with Xperi (XPER) in an all stock deal valued at 3B.
CCL .ERN To release earnings tomorrow, priced for a $4 move.
Upcoming Earnings Expected dollar move and the expected dollar move.
Option volumes from 12/18.