Dow Futures Lower Amid U.S.-North Korea Arms Meeting

Dow Jones Industrial Average (DJI) futures are lower again today, amid a summit between President Donald Trump and North Korean leader Kim Jong Un in Vietnam, with the leaders attempting to resolve gridlock over Pyongyang's nuclear weapons. In addition, Wall Street is watching escalating tensions between Pakistan and India, after the countries shot down each others' fighter planes. Traders are also awaiting another day of congressional testimony from Fed Chair Jerome Powell, who yesterday reiterated the Fed's "patient" stance on monetary policy. 

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

• The S&P hasn’t done this since 1987 – the year of Black Monday -- according to Schaeffer's Senior Quantitative Analyst Rocky White.
• The Amazon rival that could drop another 37%, according to one analyst.
• Technical signal could mean even more turbulence for this travel stock. 
• Plus, Best Buy shines; Tandem celebrates an earnings win; KPTI suffers after an FDA panel vote. 

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 953,320 call contracts traded on Tuesday, compared to 571,734 put contracts. The single-session equity put/call ratio rose to 0.60, and the 21-day moving average rose to 0.61.
2. Best Buy Co Inc (NYSE:BBY) shares are pointed 12% higher in pre-market trading, after the electronics retailer reported stronger-than-expected sales in the holiday quarter, and issued upbeat full-year guidance. BBY stock has already added nearly 12% in 2019, and just took out its 80-day moving average for the first time since September.
3. Tandem Diabetes Care Inc (NASDAQ:TNDM) shares are 17.2% higher on fourth-quarter earnings and revenue that exceeded analysts' expectations. In addition, the company issued strong full-year guidance. As a result, several analysts have already upped their price targets, including Cowen and Baird. TNDM has already skyrocketed more than 1,400% in the past year, and today’s rally should take the stock north of its September highs.
4. The shares of Karyopharm Therapeutics (NASDAQ:KPTI) are down 12.7% in electronic trading, after a Food and Drug Administration (FDA) panel voted against accelerated approval for the pharma company’s new cancer drug selinexor. KPTI just saw a record one-day drop on Feb. 22, amid FDA concerns about the drug, and the stock should hit record lows today.
5. International trade data is due on the economic schedule, as well as data on mortgage applications, factory orders, retail and wholesale inventories, weekly crude inventories, and pending home sales. Powell will wrap up his Washington, D.C., testimony in the morning. Quarterly earnings from Amarin (AMRN), Box (BOX), Campbell Soup (CPB), Chesapeake Energy (CHK), Dean Foods (DF), Fitbit (FIT), L Brands (LB), Lowe's (LOW), Monster Beverage (MNST), Perrigo (PRGO), Square (SQ), TJX Companies (TJX), and Wingstop (WING) are also due.

Global Markets Eye U.S.-North Korea Talks

Asian stocks were mostly higher today, as investors await details from the meeting between President Trump and Kim Jong Un. China's Shanghai Composite closed 0.4% higher, while Hong Kong's Hang Seng shed 0.05%. Japan's Nikkei gained 0.5% thanks to a weakening yen and a big day from Fast Retailing. Rounding out the region, South Korea's Kospi added 0.4%, as Hyundai Motor rallied amid rising pressure from activist investor Elliot Management.

Over in Europe, markets are lower, with all eyes on Vietnam. London's FTSE 100 is down 0.8% at last check, as banking giant Metro sinks after announcing a $464 million share sale in the wake of a massive accounting error. The French CAC 40 is off by 0.2%, dragged down by a rough outing from Air France-KLM after the Dutch government unexpectedly doubled its stake in the company. Lastly, the German DAX is off 0.4%.