China, Fischer Pressure Dow Jones Industrial Average Futures

The Dow Jones Industrial Average (DJIA) is poised for its ninth straight triple-digit trading range, with futures on the blue-chip barometer off more than 100 points at last check. Weighing on investor sentiment are a fresh round of China jitters, as well as some mildly hawkish remarks from Fed Vice Chair Stanley Fischer. Specifically, speaking in Jackson Hole, Wyoming, over the weekend, Fischer echoed comments made on Friday, saying the central bank "can probably remove accommodation at a gradual pace," given low levels of inflation. "Yet, because monetary policy influences real activity with a substantial lag, we should not wait until inflation is back to 2% to begin tightening," he further explained.

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

• A front office shake-up pushed this retailer to a double-digit win. 
• Options on Micron Technology, Inc. (NASDAQ:MU) aren't cheap right now -- but that didn't stop volume from popping on Friday. 
• In case you missed it ... Here's why Fitbit Inc (NYSE:FIT) traders were betting on all-time lows. 
• 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 129 points below fair value.

5 Things You Need to Know Today

1. Stocks in China moved sharply lower, amid reports regulators will no longer support the market via big stock purchases.
2. The CBOE Volatility Index (VIX) closed Friday 0.2% lower. The "fear gauge" closed out the week with a 7.1% loss, but remains stuck above a critical level -- and is on pace to notch a record-setting monthly gain.
3. The Medicines Company (NASDAQ:MDCO) is up more than 19% in electronic trading, after the company's cholesterol drug showed promise in an early stage trial. This isn't the first time drug news has moved the stock, and could have MDCO surging into annual-high territory.
4. Warren Buffett strikes again: This time, the investor's Berkshire Hathaway Inc. (NYSE:BRK.A) unveiled a nearly $4.5 billion stake in Phillips 66 (NYSE:PSX). Shares of PSX are poised to pop 1.8% out of the gate.
5. Staples, Inc. (NASDAQ:SPLS) and Office Depot Inc (NASDAQ:ODP) have delayed the closing of their impending merger for 45 days, in order to give the Federal Trade Commission (FTC) more information. Both SPLS and ODP are trading lower ahead of the bell.

Market Statistics

• The Chicago Board Options Exchange (CBOE) saw 726,296 call contracts traded on Friday, compared to 524,450 put contracts. The resultant single-session equity put/call ratio fell to 0.72, while the 21-day moving average edged up to 0.78.
• For info on currencies, commodities, trading volume, market breadth, and more, read Stock Market Stats for August 28, 2015.

Earnings and Economic Data

The economic calendar kicks off this week with the release of the Chicago purchasing managers index (PMI) and the Dallas Fed's manufacturing index. Adept Tech (ADEP), Bazaarvoice (BV), Dangdang (DANG), and Matrix Service (MTRX) are expected to report earnings. To see what else is on this week's agenda, click here.