Dow Futures Rise with Bank Stocks

Stock futures are trading sharply higher this morning, as eyes turn to the G-20 summit in Japan, where President Donald Trump will meet Chinese President Xi Jinping on Saturday. Bank stocks look to be in for a strong session thanks to mostly positive marks following the Fed's annual stress tests, and traders are also considering earnings from Dow Jones Industrial Average (DJI) member Nike (NKE). Still, it looks likely that the Dow, S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) will snap their three-week win streaks.

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

• The retail stocks bulls should be watching.
• How call traders won big on Walmart. 
• The 2 trendlines to watch for Intel stock.
• Plus, Apple shares dip on big departure; Nike talks China; and a beer stock breaking out.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 880,443 call contracts traded on Thursday, compared to 509,219 put contracts. The single-session equity put/call ratio moved down to 0.58, while the 21-day moving average was 0.63.
2. The shares of Apple Inc. (NASDAQ:AAPL) are trading down 0.5% before the open, following the departure of long-time Chief Design Officer Jony Ive. AAPL shares have been testing the $200 level in recent sessions, and near-term options traders are heavily put-skewed, based on the security's Schaeffer's put/call open interest ratio (SOIR) of 1.26 that ranks in the 90th annual percentile.
   
3. Nike Inc (NYSE:NKE) shares could be in the red at the open, following the company's earnings miss. Investors are also closely considering the company's commentary on China, with CEO Mark Parker saying that Nike is and will remain "a brand of China and for China." NKE stock was up almost 13% year-to-date as of yesterday's close.
4. Beer stock Constellation Brands, Inc. (NYSE:STZ) is rallying after earnings, up 8% in pre-market trading, thanks to strong quarterly sales. The move would put STZ shares back atop the $200 level and above the 200-day moving average.
5. In addition to data on personal income and outlays, the Chicago purchasing managers manufacturing index (PMI), the Baker-Hughes rig count, and more consumer sentiment data are all due out. JinkoSolar (JKS) closes out the week on the earnings front. The shortened week coming up will feature nonfarm payrolls.
   
   

Little Buying in Overseas Markets

Uneasiness surrounding the upcoming meeting between Trump and Xi had Asian markets inching lower today. The Shanghai Composite in China closed 0.6% lower, while Hong Kong’s Hang Seng fell 0.3%. Elsewhere, Japan’s Nikkei was down 0.3%, dragged by robot maker Fanuc, and South Korea’s Kospi lost 0.2%.

European markets are trading in the black midday, with the German DAX taking the lead on a 0.5% pop, after Deutsche Bank successfully completed the U.S. Federal Reserve’s annual stress test Thursday. Meanwhile, the French CAC 40 is up 0.3%, while the London FTSE 100 has tacked on 0.2% so far, after The Times reported on prime minister candidate Boris Johnson's emergency budget for a possible "no-deal" Brexit.