Dow Jones Industrial Average Futures Struggle to Stay Positive

Dow Jones Industrial Average (DJIA) futures are struggling to stay positive, following yesterday's triple-digit win, as traders digest the latest Fed chatter and blue-chip news. Federal Reserve Vice Chair Stanley Fischer this morning reiterated to Bloomberg TV that economic data will determine if the next rate hike will be "one and done or several." Meanwhile, investors are watching blue-chip stock Apple Inc. (NASDAQ:AAPL), after the European Commission slapped the tech giant with a hefty tax bill.

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

• The data point that could bring volatility back, according to Schaeffer's Senior VP of Research Todd Salamone.
• This social media stock has almost quadrupled over the past 12 months.
• Why analysts are fans of Fitbit Inc's (NYSE:FIT) 2 new products.
• Plus... Asia rises on crude, Apple fires back at Europe, and Abercrombie & Fitch struggles to come back in style

Futures on the Dow Jones Industrial Average (DJIA) are about 9 points above fair value.

5 Things You Need to Know Today
 

1. Rising crude futures propped up Asian stocks.
2. The Chicago Board Options Exchange (CBOE) saw 665,523 call contracts traded on Monday, compared to 399,625 put contracts -- the fewest puts since June 23, before the "Brexit" vote. The resultant single-session equity put/call ratio fell to 0.60, while the 21-day moving average remained at 0.61.
3. AAPL is set to open down 1.3%, yet again making headlines after the European Commission ruled that the tech giant owes over $14 billion in back taxes, after receiving illegal tax benefits from Ireland. Apple CEO Tim Cook issued a letter this morning decrying the retroactive ruling, and a U.S. Treasury official said the ruling could hurt foreign investment in the European Union. 
4. Abercrombie & Fitch Co. (NYSE:ANF) is ready to tumble at the open, currently down 13.7% in pre-market trading. The retailer reported dismal earnings yet again last night, with sales dropping for the 14th straight quarter, and per-share losses steeper than analysts' estimates. 
5. McDonald's Corporation (NYSE:MCD) is set to open up 0.2%, following an upgrade by Baird to "outperform," as well as a price-target hike to $128 from $126. This optimism for the fast food giant is somewhat surprising, with the shares down over 12% since touching an all-time high in May.

Earnings and Economic Data

Tuesday's economic docket features the S&P/Case-Shiller home price index, as well as the Conference Board's consumer confidence index. AeroVironment (AVAV), Bob Evans (BOBE), DSW (DSW), G-III Apparel (GIII), and Palo Alto Networks (PANW) will report earnings. To see what else is coming up on this week's schedule, click here.