Dow Futures Jump as Traders Eye Trump-Liu Talks

Dow Jones Industrial Average (DJI) futures are rallying before the opening bell, trading almost 300 points above fair value. Traders appear to be expecting good news on the trade front, with the U.S and China set to wrap up a week's worth of negotiations with a meeting between President Donald Trump and Chinese Vice Premier Liu He. Media reports have been suggesting a "partial deal," as the China Daily newspaper described it, could be reached, and the buzz has tech heavyweights trading higher pre-market -- including Apple (AAPL), which is nearing record highs. As such, the Dow and S&P 500 Index (SPX) look poised to trim their weekly losses.

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

• How options traders dismissed the Bed Bath & Beyond rally.
• Why DocuSign call options look attractive.
• Bulls are betting on this Wall Street freshman.
• Plus, estimating the cost of the GM strike; another GoPro update; and a weed stock named a winner.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 906,148 call contracts traded on Thursday, compared to 562,087 put contracts. The single-session equity put/call ratio moved up to 0.62, while the 21-day moving average was 0.69.
2. Credit Suisse analysts weighed in on the UAW-General Motors Company (NYSE:GM) strike, a topic in this week's Schaeffer's Stock Market Podcast. The brokerage firm released a note estimating the worker strike could cost GM roughly $1.5 billion, assuming a deal is made by Oct. 21. The automaker released an update on the negotiations this morning, explaining its latest offer to the union group.
3. GoPro Inc (NASDAQ:GPRO) just released another update for investors, saying it's already shipping the Hero8 camera -- days ahead of the Oct. 15 deadline the company previously laid out. This comes after GPRO stock hit an all-time low of $3.25 yesterday.GoPro shares are up 2% ahead of the bell.
4. Jefferies just released a note on the beaten-down weed sector, essentially saying the smallest companies will likely struggle, with some potentially resorting to bankruptcy. However, the firm suggested Aphria Inc (NYSE:APHA) offers a much more attractive valuation than its marijuana-producing peers. After losing more than 14% in Thursday's trading, APHA is pointed 3.3% higher in pre-market action.
5. Import and export prices, plus the University of Michigan consumer sentiment index, come out today. The earnings schedule features Infosys (INFY). Next week, third-quarter earnings season kicks off with the big banks.

Asian Markets Gain on Trade Chatter

Stocks in Asia moved higher today, as traders priced in optimism over U.S.-China trade progress following a tweet from Trump, saying he will be meeting with Premier Liu He today. Japan’s Nikkei saw a 1.2% lift after well-received earnings from retail giant Fast, while the Kospi in South Korea moved 0.8% higher. Hong Kong’s Hang Seng Index surged 2.3%, while China’s Shanghai Composite rose just shy of 0.9%.

As Brexit continues to be at the forefront of Britain’s news, European stocks are moving notably higher in afternoon trading. Specifically, U.K. Brexit secretary Stephen Barclay is in discussions today with European Union (EU) chief negotiator Michel Barnier, sending London’s FTSE 100 0.4% higher, even as the pound extends Thursday's gains. Meanwhile, Germany’s DAX has climbed 2.2%, while France’s CAC 40 is sporting a 1.2% lead, with SAP and Renault both gaining ground on executive shake-ups.