Dow Jones Industrial Average Futures Look to Rebound

Dow Jones Industrial Average (DJIA) futures are set to open higher, after two straight down days, despite an extended pullback in oil prices. At last check, October-dated crude futures were down 3.5% at $46.81 per barrel. Stocks are also looking to shake off looming Fed jitters ahead of a highly anticipated speech from Fed Chair Janet Yellen on Friday, which could provide clues about the timing of the central bank's next rate hike.

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

• The 20 stocks option players can't get enough of.
• How to hedge against a potential CBOE Volatility Index (VIX) pop, courtesy of Schaeffer's Senior VP of Research Todd Salamone.
• The biotech that rocketed roughly 20% on news of a high-profile investment.
• Plus... Europe looks strong, Monsanto may be getting close to a deal, and Best Buy aims for new highs after earnings.

Futures on the Dow Jones Industrial Average (DJIA) are 58 points above fair value.

5 Things You Need to Know Today
 

1. European stocks popped after signs of economic growth, including a seven-month high for the IHS Markit flash purchasing managers index (PMI).
2. The Chicago Board Options Exchange (CBOE) saw 756,508 call contracts traded on Monday, compared to 474,126 put contracts. The resultant single-session equity put/call ratio rose to 0.63, while the 21-day moving average fell to 0.61.
3. Best Buy Co Inc (NYSE:BBY) is popping after earnings, set to open up 16% -- and could hit annual highs. The tech retailer delivered better-than-expected quarterly results, to the delight of many recent option players. A decline in smartphone sales was offset by improved sales in categories such as fitness trackers and large appliances, and BBY raised its full-year earnings forecast.
4. Reports that Monsanto Company (NYSE:MON) is moving closer to finalizing a deal with German pharmaceutical company Bayer AG has the agricultural stock up 4.3% in pre-market trading. MON has already rejected a $125-per-share buyout offer from Bayer AG.
5. J M Smucker Co (NYSE:SJM) is down 3.5% ahead of the opening bell, after delivering quarterly sales below expectations and offering lackluster guidance, citing weak performances among pet food brands. The consumer goods stock just touched a record high earlier this month, and has been muscling higher since last quarter's blowout earnings report. 

Earnings and Economic Data

New home sales will hit the Street today. Stepping up to the earnings plate are Intuit (INTU), La-Z-Boy (LZB), Nimble Storage (NMBL), Toll Brothers (TOL), Trina Solar (TSL), and Yingli Green Energy (YGE).To see what else is coming up on this week's schedule, click here.