Stock Futures a Mixed Bag as Oil, Yields Rise

Futures on the Dow Jones Industrial Average (DJI) are cautiously higher this morning, set to slightly recover from yesterday's Fed meeting minutes that put Wall Street in a tailspin. The energy sector leads the rally, with February-dated crude last seen up nearly 2% at $79.37 per barrel. Nasdaq-100 Index (NDX) futures are stuck in the red though, while S&P 500 Index (SPX) futures hover right around breakeven. Investors have a lot to unpack this morning, ranging from the start of earnings season, weekly jobless claims coming in at a higher-than-expected 207,000, and a 10-year Treasury yield climbing above 1.75%.

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

• Signal says buy the dip on Pure Storage stock.
• Enphase Energy stock was taking a breather before yesterday's selloff.
• Plus, two notable post-earnings reactions; and COIN looks to snap skid.   

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 1.7 million call contracts traded on Wednesday, and roughly 1 million put contracts. The single-session equity put/call ratio rose to 0.57, and the 21-day moving average stayed at 0.48.
2. Constellation Brands, Inc. (NYSE:STZ) stock is down 0.5% in electronic trading, despite the beverage giant reporting fiscal third-quarter earnings that exceeded Wall Street's expectations. The company's sales also topped estimates.
3. Bed Bath & Beyond Inc. (NASDAQ:BBBY) stock is up 10.7% before the open, even after the specialty retailer reported a surprise quarterly loss and same-store sales whiff. BBBY was initially sharply lower premarket, but has since reversed course. 
4. Coinbase Global Inc (NASDAQ:COIN) stock is 0.5% higher ahead of the bell, after receiving an upgrade to "buy" from "neutral" at BofA Securities. COIN is poised to snap a four-day losing streak if today's gains hold.
5. Trade deficit data, the ISM services index, and factory orders are all on tap today.

Fed Minutes Take Toll on European Bourses

Asian markets were mostly lower on Thursday, mirroring stateside losses in the aftermath of the U.S. Federal Reserve’s December meeting minutes. Pacing the laggards was Japan’s Nikkei with a 2.9% drop, followed by South Korea’s Kospi, with a 1.1% loss. Elsewhere, China’s Shanghai Composite shed 0.3%, while Hong Kong’s Hang Seng bucked the downward trend with a 0.7% pop.

The Fed’s decision to taper economic stimulus by the summer is also weighing on European markets. With the exception of financial and insurance names, all other sectors are swimming in red ink, with tech stocks bearing the brunt of those losses. In turn, France’s CAC 40 is 1.3% lower at last check, while the German DAX carries a 1.2% deficit, and London’s FTSE 100 is down 0.6%.