The U.S. and China have reportedly started negotiations
The Dow Jones Industrial Average (DJI) is soaring, as reports the U.S. and China have started tariff negotiations help ease fears of a global trade war that sent the stock market spiraling last week. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also solidly higher at midday, even as Facebook (FB) stock drops into bear-market territory on news the Federal Trade Commission (FTC) is investigating the social media company's privacy practices amid the recent data-harvesting scandal.
Continue reading for more on today's market, including:
- The VXX chart pattern stock market bulls should be watching, per founder and CEO Bernie Schaeffer.
- Why Morgan Stanley thinks Microsoft stock can rally another 49%.
- Plus, Finish Line options bulls cash out; a surging Buffett-backed stock; and the biotech hitting new highs.

Among the stocks with unusual options volume today is Finish Line Inc (NASDAQ:FINL), with more than 9,300 contracts traded -- about 42 times what's typically seen at this point in the day. Buyout buzz has FINL stock up 29.2% at $13.63, and it looks like some options traders are selling to close their now in-the-money April 12 calls for a volume-weighted average price of $1.68. Those who may have initially bought the calls back on Feb. 26 for $0.60 apiece have now nearly tripled their money.
USG Corporation (NYSE:USG) is at the top of the New York Stock Exchange (NYSE) today, after the construction materials company rejected an unsolicited $42 per share takeover offer from Gebr Knauf -- though Warren Buffett's Berkshire Hathaway (BRK.A) offered to sell its 31% stake in USG to the German firm for at least the buyout price. USG stock is up 16.9% to trade at $39.18, after earlier running into a familiar ceiling at the round $40 level.

Verona Pharma (NASDAQ:VRNA) is at the top of the Nasdaq, after the drugmaker reported positive mid-stage study data for its chronic obstructive pulmonary disease (COPD) treatment. VRNA stock is up 46.2% at $23.40, fresh off a record high of $24.43.