Dow Futures Brush Off G-7 Coronavirus Uncertainty

Dow Jones Industrial Average (DJI) futures are higher despite a less-than-assuring statement from the Group of Seven industrial powers this morning. The G-7 confirmed they were committed to using "all appropriate policy tools to achieve strong, sustainable growth,” to assuage coronavirus concerns, but then left investors scratching their heads after failing to delve into any specific actions. Despite this, the Dow is indicating a triple-digit gain going into today, while the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are following suit. 

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

• How one China stock staged an impressive rebound yesterday. 
• 2 grounded airline stocks options bears love right now. 
• Plus, 2 retailers that just stepped into the earnings confessional; and TSLA gets another big bull note. 

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 87.8 million call contracts traded on Monday, compared to 76.2 million put contracts. The single-session equity put/call ratio moved to 0.87, and the 21-day moving average was 0.60.
2. Target Corporation (NYSE:TGT) has slipped below breakeven in pre-market trading following a mixed fourth-quarter report. The retailer posted earnings of $1.69 that beat analysts' expectations, but $23.4 billion in revenue, which missed the mark. The equity is down 1.7% before the bell. 
3. Meanwhile, Kohl's Corporation (NYSE:KSS) is dominating the retail sector before the open. The stock is up 3.2% following a fourth-quarter earnings and revenue report that topped analysts' estimates. The department store's CEO Michelle Gass cited strong traffic growth both online and in stores, thanks in part to a bevy of new brands launched right before the holiday season. 
4. Tesla Inc (NASDAQ:TSLA) is looking to close last week's bear gap this morning, up 5.3% after JMP Securities hiked its price target to $1,060 -- the second highest on Wall Street -- and upgraded the stock to "market outperform" from market perform. The analyst said Tesla's growth rate looks sustainable for the next four to five years and predicted that coronavirus headwinds could create an ideal buying opportunity for investors. 
5. Weekly crude inventories data and motor vehicle sales for February are due out today along with earnings reports from AutoZone (AZO), Cronos Group, Nordstrom (JWN), Urban Outfitters (URBN), and Veeva Systems (VEEV). 

Asian Markets Cautiously Higher Despite G-7 Statement 

Markets in Asia were mostly higher today, although gains were limited after the vague statement from the Group of Seven industrial powers. China's Shanghai Composite gained 0.7%, while Hong Kong's Hang Seng finished marginally lower. South Korea's Kospi tacked on 0.6%, but Japan's Nikkei bucked the regional trend to finish 1.2% lower.

Over in Europe, stocks are up across the board at midday. London's FTSE 100 is up 1.5%, while the German DAX and French CAC 40 are up 1.7% and 1.3%, respectively. Airline stocks such as Lufthansa and Air France KLM are leading the rally today.