Stock Futures Jump as Xi Speech Eases Trade Tensions

Futures on the Dow Jones Industrial Average (DJI) are more than 350 points above fair value, after Chinese President Xi Jinping signaled free trade in the country's manufacturing and financial sectors, said Beijing would strengthen intellectual property protection, and warned against a "Cold War mentality" in his speech at the Boao Forum for Asia. The message is being seen as conciliatory toward U.S.-China trade tensions that have sent global markets on a roller-coaster ride in recent weeks, with auto stocks notably higher ahead of the bell. This is helping ease anxiety surrounding yesterday's FBI office raid of President Donald Trump's lawyer Michael Cohen. And ahead of the first day of Facebook (FB) CEO Mark Zuckerberg's congressional testimony, its stock is up 0.4% in electronic trading, while futures on the Nasdaq-100 Index (NDX) are also higher.

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

• Schaeffer's V.P. of Research Todd Salamone explains how to capitalize on big daily stock market swings.
• Russian sanctions boosted this aluminum stock to its best day so far this year.
• This Chinese internet stock could make a quick comeback.
• Plus, Energous scores a regulatory win; big steps in M&A; and a popping FAANG stock.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 711,361 call contracts traded on Monday, compared to 432,199 put contracts. The single-session equity put/call ratio fell to 0.61, and the 21-day moving average stayed at 0.66.
2. Shares of Energous Corp (NASDAQ:WATT) are soaring in electronic trading, after the Federal Communications Commission (FCC) certified the company's wireless charging station, WattUp, in San Jose, California. WATT stock is up 25.2% -- which will likely catch short sellers off guard. More than 39% of the equity's float is dedicated to these bearish bets.
3. The Justice Department has reportedly come to terms with Germany's Bayer over its attempt to take over U.S. fertilizer firm Monsanto Company (NYSE:MON) in a deal valued at roughly $62.5 billion. According to the Wall Street Journal, Bayer will be required to sell more assets as part of the agreement. MON stock is down 0.08% ahead of the bell.
4. Netflix, Inc. (NASDAQ:NFLX) received price-target hikes from Evercore ISI (to $250), Raymond James (to $330), and Morgan Stanley (to $350), with the latter sitting well above the streaming giant's March 12 record high of $333.98. After closing last night at $289.93, NFLX stock is up 2.7% in pre-market trading.
5. Wholesale trade data and the producer price index (PPI) will be released today. MSC Industrial (MSM) and Pier 1 Imports (PIR) will report earnings.

Easing Trade Fear Concerns Boost Global Stocks

Stocks in Asia closed higher today, as investor confidence received a boost from Chinese President Xi's conciliatory tone on trade. In response, both China's Shanghai Composite and Hong Kong's Hang Seng added 1.7%. South Korea's Kospi bounced back from early losses to finish 0.3% higher, led by a 4% pop for Samsung C&T on reports -- since denied -- that the company was looking to buy a 30% stake in its biopharmaceutical affiliate. Lastly, Japan's Nikkei added 0.5% thanks to a weaker yen and a bump from steel stocks, with JFE Holdings rising 3% and Kobe Steel tacking on 2%.

European stocks are higher at midday amid cooling tensions between U.S. and China, causing basic resources stocks to surge. London's FTSE 100 is 0.6% higher at last check, thanks to a nearly 5% rally from Anglo American. The French CAC 40 is sporting a 0.4% gain, as luxury retailer LVMH soars 4.3% after strong demand from the Chinese market led to better-than-expected first-quarter sales growth. Elsewhere, the German DAX is up 0.7%, with Bayer AG adding 2%.