Stock Futures Up as Big-Cap Earnings Pour In

Dow Jones Industrial Average (DJI) futures are modestly above fair value this morning, as Wall Street digests a heavy dose of blue-chip earnings. Among the winners are Coca-Cola (KO) and United Technologies (UTX), while Procter & Gamble (PG) stock seems set for a post-earnings slip. Traders are also keeping a close eye on oil prices, which continue to rise. At last check, May-dated crude futures were up 2.6% at $65.66 per barrel.

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

• How to hedge a risk-on portfolio, courtesy of Schaeffer's Senior V.P of Research Todd Salamone.
• The bear note that dropped Spotify stock.
• Boeing options traders position for a post-earnings pop.
• Plus, Hasbro reports shocking earnings; Twitter swings higher post-earnings; and Trump chimes in on HOG earnings.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 966,506 call contracts traded on Monday, compared to 578,253 put contracts. The single-session equity put/call ratio dipped to 0.60, while the 21-day moving average remained at 0.61.
2. Hasbro, Inc. (NASDAQ:HAS) stock is poised for a 16% pop at the open -- pulling embattled rival Mattel Inc (NASAQ:MAT) higher with it -- after the toymaker swung to an unexpected per-share profit of 21 cents in the first quarter, while revenue of $732.50 million also blew away estimates. Today's pre-market upside puts HAS stock on pace to slice through a recent ceiling at its 200-day trendline, and trade at levels not seen since mid-October.
3. Twitter Inc (NYSE:TWTR) reported first-quarter adjusted profit of 37 cents per share on $787 million in revenue, more than analysts were expecting. The social media firm also said daily user growth was up 12% year-over-year to a record total of 134 million in the first three months of 2019. TWTR stock is on track for another volatile post-earnings reaction, trading up 6.6% ahead of the bell.
4. Harley-Davidson Inc (NYSE:HOG) said profit plunged 26.7% in the first quarter, citing declining U.S. sales and higher costs related to European Union (EU) tariffs. While adjusted earnings of 98 cents per share still beat estimates, quarterly revenue of $1.38 billion fell far short of expectations. President Donald Trump was quick to chime in on the motorcycle manufacturer's results, tweeting EU tariffs are "So unfair to U.S. We will Reciprocate!"
5. New home sales, the Richmond Fed manufacturing survey, and the FHFA home price index data will surface. JetBlue (JBLU), Quest Diagnostics (DGX), Sherwin-Williams (SHW), Snap (SNAP), TD Ameritrade (AMTD), and Texas Instruments (TXN) are on the earnings schedule.

Global Energy Stocks Rise With Oil Prices

It was a quiet session in Asia today, with traders keeping a cautious eye on climbing oil prices. However, stocks in mainland China lagged the pack, after a South China Morning Post report that stronger-than-expected first-quarter growth has the Politburo focused on structural reform measures over stimulus efforts. By the close, China's Shanghai Composite was off 0.5% and Hong Kong's Hang Seng was fractionally lower, while Japan's Nikkei and South Korea's Kospi rose 0.2% each.

European markets are mixed after a long holiday weekend. Energy stocks like Total and Royal Dutch Shell are catching a lift from crude oil's ascent, but banking names are broadly lower as investors brace for this week's round of earnings from the sector. At last check, London's FTSE 100 is 0.5% higher, the German DAX has dipped 0.2%, and the French CAC 40 has shed 0.1%.