Dow Jones Industrial Average Futures Signal Another Major Opening Pop

For the second straight day, futures on the Dow Jones Industrial Average (DJIA) are sharply higher. Many traders are likely skeptical of this move, however, after watching the big-cap barometer's triple-digit lead evaporate Tuesday afternoon. Not easing the volatility worries was another rocky session in China, as yesterday's interest rate cut failed to encourage investors. Meanwhile, with recent market turmoil adding a new wrinkle to Fed rate-hike speculation, traders are likely to remain on edge ahead of tomorrow's preliminary second-quarter gross domestic product (GDP) reading. 

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

• Schaeffer's Senior Quantitative Analyst Rocky White explains the S&P 500 Index (SPX) signal that looks a lot like 1987. 
• Twitter Inc (NYSE:TWTR) is one of several stocks struggling near its IPO price. 
• Analysts took a liking to this blue-chip bank and its high-profile Dow peer. 
• Plus … 5 things you need to know this morning -- including stocks making waves, what's happening overseas, and the latest in unusual option activity. 

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are more than 353 points above fair value. 

5 Things You Need to Know Today

1. The Shanghai Composite slumped yet again today, prompting yet another easing measure from the scrambling People's Bank of China (PBOC).
2. The CBOE Volatility Index (VIX) was off by nearly one-third before paring its losses and closing 11.6% lower on Tuesday. Meanwhile, Schaeffer's contributor Adam Warner explained why Monday's volatility pop was the second-largest "VIX storm" in history.
   
3. Schlumberger Limited (NYSE:SLB) is off 1.4% ahead of the open, on news the company will buy sector peer Cameron International Corporation (NYSE:CAM) in a cash-and-stock deal valued at nearly $15 billion. It's been a rough stretch for many oil stocks, with the commodity dipping to more than six-year lows. However, CAM has jumped nearly 46% in electronic trading to $61.90, just south of SLB's $66.36-per-share bid.
4. Media conglomerate Walt Disney Co (NYSE:DIS) has been far from immune to the broad-market headwinds. The stock is buzzing this morning, though, up 2.9% ahead of the bell after the company announced it will begin selling merchandise for its newest Star Wars Movie, "The Force Awakens," on Sept. 4 -- an event that's being referred to as "Force Friday." The movie is not set for release until December.
5. Many hedge funds are remaining upbeat in light of the recent market turmoil. Still, that doesn't mean we're in the clear yet, according to prominent fund manager Jeffrey Gundlach.

 Market Statistics

• JPMorgan Chase & Co. (NYSE:JPM), JinkoSolar Holding Co., Ltd. (NYSE:JKS), and Abercrombie & Fitch Co. (NYSE:ANF) were among the equities with unusual call and put activity on Tuesday. For the entire list, read Unusual Options Activity: JPM, JKS, ANF, and COST.
• The Chicago Board Options Exchange (CBOE) saw 852,856 million call contracts traded on Tuesday, compared to 595,154 put contracts. The resultant single-session equity put/call ratio dropped to 0.70, while the 21-day moving average remained at 0.75.
• For info on currencies, commodities, trading volume, market breadth, and more, read Stock Market Stats for August 25, 2015. 

Earnings and Economic Data

Today's docket features the release of durable goods orders and weekly crude inventories. More retailers step into the earnings confessional, with ANF, Chico's (CHS), Express (EXPR), Guess? (GES), Tilly's (TLYS), and Williams-Sonoma (WSM) all on tap. Also set to report are Avago Tech (AVGO), NQ Mobile (NQ), and Workday (WDAY). To see what else is on this week's schedule, click here.