Strong earnings from the retail sector are boosting stocks today. Specifically, earnings wins from Target (TGT) and Lowe's (LOW) have helped put the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) back in the black, while the Dow Jones Industrial Average (DJI) is up 260 points at midday. Traders are also digesting strong housing data, with existing home sales posting their first year-over-year gain in 17 months in July. Meanwhile, investors are awaiting this afternoon's Fed meeting minutes, which precede Fed Chair Jerome Powell's speech from Jackson Hole on Friday. 

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

• The airline stock crashing on a double downgrade. 
• The overseas deal that's saving this struggling pot stock. 
• Plus,options traders bombard TGT; LEDS stock surges on an investment; and an earnings flop has JMIA stock slipping.  

Retail giant Target Corporation (NYSE:TGT) is seeing a massive surge in options activity today, following an impressive second-quarter earnings report, which had the stock clocking a new record high of $102.05 earlier. Options volume is also pacing for a 52-week high, with 74,000 calls and 88,000 puts across the tape so far -- 13 times the intraday average. Most popular is the September 90 put, where a large number of these contracts are being sold to open. At last check, TGT is up 18.5% at $101.36, set to topple resistance in the $90 region. 

Chipmaker SemiLEDs Corporation (NASDAQ:LEDS) is one of the best stocks on the Nasdaq today, up 50% to trade at $3.30, after Chinese investor Xian Chang Ma said it would buy 680,000 shares of common stock at $3 per share. The equity is now eyeing its biggest one-day percentage gain this year, and its first close atop its 200-day moving average since April. 

African e-commerce name Jumia Technologies AG (NYSE:JMIA) is one of the worst stocks today. The equity is down 11.8% at $13, after reporting second-quarter revenue that missed analysts' estimates. The company also said several class-action lawsuits relating to its initial public offering (IPO) have been filed. The stock is set to close back below its 10-day moving average, which has guided JMIA lower over the past month.

Dow Jones Industrial Average (DJI) futures are trading modestly above fair value, with the blue-chip index set to build on yesterday's retail-focused rally. The Fed's annual symposium in Jackson Hole, Wyoming, will kick off later today, where Fed presidents will comment on the global economy. Investors will be eager for any details about U.S. monetary policy, especially after the Fed's July meeting minutes reiterated Fed Chair Jerome Powell's stance that the recent rate cut was not part of a "pre-set course." Elsewhere, weekly jobless claims declined more than expected last week.

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

• Signal says Burlington stock could join retail rally.
• Analyst: This biotech stock could double.
• CyberArk stock just locked up its fourth straight win.
• Plus, Dick's is the latest retail winner; bull notes galore for Target; and post-earnings bear notes pour in for Pure Storage.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 939,289 call contracts traded on Wednesday, compared to 567,470 put contracts. The single-session equity put/call ratio fell to 0.60, while the 21-day moving average remained at 0.71.
2. The latest retail winner is Dick’s Sporting Goods Inc (NYSE:DKS), up 6.7% in electronic trading, after the company reported second-quarter earnings, revenue, and same-store sales all above expectations. Dick's also raised its full-year guidance. Prior to today, DKS was only up 5.6% year-to-date, closing last night at $32.97.
3. One day removed from its blowout quarterly report, Target Corporation (NYSE:TGT) stock is up 1.6% ahead of the bell, thanks to an upgrade to "buy" from "neutral" at Citi, which called the company a "winner in the retail landscape." Citi also upped its price-target to $130 from $80, joining five other brokerages issuing price-target hikes this morning. This has TGT set to open at fresh record highs.
4. The shares of Pure Storage Inc (NYSE:PSTG) are up 7.8% in electronic trading, after the flash drive storage specialist reported a second-quarter earnings and revenue win. The company did reduce its full-year outlook, though, prompting four price-target cuts this morning. PSTG traded at a two-year bottom of $12.68 as recently as Aug. 5. 

5. The Fed's balance sheet is due today. Wall Street will also comb through earnings from Children's Place (PLCE), Gap (GPS), Hormel Foods (HRL), HP (HPQ), Intuit (INTU), Ross Stores (ROST), and VMware (VMW). 

European Markets React to PMI Data

It was a mixed finish in Asia today, after preliminary data showed manufacturing in Japan contracted for a fourth straight month in August. Japan's Nikkei eked out a 0.05% gain on a strong day for cosmetics stock Shiseido, while China's Shanghai Composite also finished higher, adding 0.1%. On the flip side, Hong Kong's Hang Seng gave back 0.8% as real estate stocks slipped on political protest worries, and South Korea's Kospi fell 0.7%.

European markets are mostly lower at midday, as traders weigh a round of regional flash composite PMI data from IHS Markit. While manufacturing activity in German, France, and the broader eurozone all beat estimates in August, data from the former showed factory orders fell at their quickest clip in six years. At last check, the German DAX is up 0.2%, while the French CAC 40 is down 0.2%, and London's FTSE 100 is off 0.4%.

The Dow Jones Industrial Average (DJI) has turned lower, reversing early gains, as recession anxieties begin to creep back in. Speaking from the central bank's annual symposium in Jackson Hole, Wyoming, Philadelphia Fed President Patrick Harker and Kansas City Fed President Esther George said they don't see a case for additional rate cuts right now. The yield curve subsequently inverted once again, and recession fears were exacerbated by data showing U.S. manufacturing activity contracted for the first time since 2009.

Meanwhile, ahead of Fed Chair Jerome Powell's upcoming speech, President Donald Trump tweeted, "The Economy is doing really well. The Federal Reserve can easily make it Record Setting!" Against this backdrop, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are trading lower, too. 

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

• Mizuho says nab this tech stock ahead of earnings. 
• This e-tail stock is at an attractive entry point, says one analyst. 
• Plus, Corning's new exec has options bulls flocking; Cemtrex rallies again; and a late-stage study flop knocks Retrophin stock. 

Corning Incorporated (NYSE:GLW) is seeing an influx of bullish activity, after the kitchenware name announced John Tobin as its Vice President and General Manager of Corning Life Sciences. So far, 35,000 calls have been traded -- 20 times what's typically seen at this point -- compared to fewer than 2,000 GLW puts. The October 28 call is by far the most popular, with contracts being bought to open here. Corning stock is inching higher, up 0.2% at $27.98, and the aforementioned options traders are hoping to profit from a move above $28 before these contracts expire in October. 

Circuit manufacturer Cemtrex Inc. (NASDAQ:CETX) is one of the top performers on the Nasdaq today, just two sessions after enjoying a post-earnings surge. The stock is up 24.6% at $2.29 -- trading just beneath its 100-day moving average, which has guided the stock lower since its mid-2018 bear gap. 

One of the worst performers on the Nasdaq is biopharmaceutical concern Retrophin Inc (NASDAQ:RTRX), which has fallen 29.6% to $12.25, after the firm's experimental treatment failed a late-stage study in patients with a rare neurological disorder. The stock is eyeing its biggest one-day loss since 2012, and just hit a three-year low of $11.84 earlier.

Stocks seesawed today, trading on both sides of breakeven, with investors mostly monitoring updates from the Jackson Hole symposium. With Fed Chair Jerome Powell due to speak tomorrow, multiple regional Fed presidents said they don't see the need for more rate cuts at the moment. Traders also reacted to another brief inversion of the yield curve and disappointing manufacturing data. In all, the Dow managed a solid gain thanks to Boeing's (BA) big day, though the S&P and Nasdaq struggled to gain momentum.

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

• Ulta Beauty stock flashes a bull signal week before earnings.
• The famous investor picking up GameStop shares.
• While Overstock.com options popped on its CEO exit, a solar stock also fell on big executive news.
• Plus, traders see a floor for L Brands; Nordstrom soars; and an e-commerce stock gets analyst love.

The Dow Jones Industrial Average (DJI - 26,252.24) traded down more than 100 points during the day, but managed a 49.5-point, or 0.2%, win. Half of the Dow's 30 components closed higher, led by BA's 4.2% pop. UnitedHealth Group (UNH) was the biggest loser, dropping 3.1%.

The S&P 500 Index (SPX - 2,922.95) lost 1.5 points, or 0.05%, while the Nasdaq Composite (IXIC - 7,991.39) gave back 28.8 points, or 0.4%.

The Cboe Volatility Index (VIX - 16.68) rose 0.9 point, or 5.6%.

5 Items on our Radar Today

1. Apple (AAPL) is reportedly planning to introduce new Pro iPhones in the coming weeks. The tech giant may also unveil new iPads and MacBooks in September. (CNBC)
2. Borrowing to pay for capital investments increased among U.S. companies in July. Companies borrowed $9.4 billion in the month, up $1.2 billion from last year. (Reuters)
3. The technical floor traders see for L Brands stock.
4. Investors cheered Nordstrom's strong earnings.
5. One e-commerce stock Stifel likes.

Data courtesy of Trade-Alert

Supply Surplus Concerns Weigh on Oil

Oil prices tumbled today on demand fears. October crude futures finished down 33 cents, or 0.6%, at $55.34 per barrel.

Gold prices dipped following today's Fed comments. God for December delivery was down $7.20, or 0.5%, at $1,508.50 an ounce at the close.

Dow Jones Industrial Average (DJI) futures are signaling a triple-digit drop out of the gate, under pressure from renewed trade tensions with China. Wall Street seemed ripe for healthy gains ahead of this morning's speech from Fed Chair Jerome Powell, but stock futures immediately pivoted lower after China announced it was ready to raise tariffs on $75 billion in U.S. goods, including automobiles. The tariffs will range from 5% to 10%, and go into effect on Sept. 1 and Dec. 15, the same dates U.S. import duties on Chinese goods are set to increase. Oil prices are careening, too, with October-dated crude futures down 2.9% at $53.73 per barrel.

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

• 737 buzz attracted Boeing options bulls.
• L Brands options traders set a floor as the retail stock slumped.
• Traders more than doubled their money during Starbucks' latest surge.
• Plus, bull notes roll in for Salesforce after earnings; Facebook in hot water again; and Foot Locker eyes new low after dismal earnings.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 768,310 call contracts traded on Thursday, compared to 568,720 put contracts. The single-session equity put/call ratio climbed to 0.74, while the 21-day moving average rose to 0.72.
2. Salesforce.com, Inc. (NYSE:CRM) stock is up 6.3% in electronic trading, after the cloud name reported second-quarter earnings and revenue that topped expectations. The company's third-quarter and full-year guidance also beat estimates, prompting at least 11 price-target hikes overnight. The highest comes from Monness Crespi Hardt to $210 from $200. CRM closed last night at $148.24.
3. Facebook, Inc. (NASDAQ:FB) is down 0.8% ahead of the bell, after a report indicated the social media giant knew about Cambridge Analytica violations -- using Facebook data to profile and target voters in the 2016 U.S. election -- as early as September 2015. FB has shed 13% since its July 25 annual high of $208.66, settling last night at $182.04.
4. The shares of Foot Locker, Inc. (NYSE:FL) are down 12.1% in electronic trading, after the retailer reported second-quarter earnings, revenue, and same-store sales well below analyst expectations. Should these premarket losses hold, FL is set to open at a new annual low.

5. New home sales will be released today. As far as earnings, Buckle (BKE) and Hibbett Sports (HIBB) will report.

Weaker Yen Boosts Tokyo Stocks

It was a mostly higher finish in Asia ahead of this morning's speech from Powell. Traders also kept a close eye on escalating tensions between Japan and South Korea, with Seoul saying it would no longer share intelligence about North Korea with Tokyo. At the close, Japan's Nikkei was up 0.4% as a cooling yen boosted exporters, China's Shanghai Composite tacked on 0.5% as the yuan eased to levels not seen since 2008, and Hong Kong's Hang Seng added 0.5%. South Korea's Kospi, meanwhile, slipped 0.1%.

European markets are higher at midday. This weekend's Group of Seven (G-7) summit is in focus, with leaders from the U.K., France, and Germany expected to meet to discuss Brexit. London's FTSE 100 is leading its regional peers at last check, up 0.8% on a positive session for luxury retailer Burberry, while the German DAX and the French CAC 40 have each added 0.4%

The Dow Jones Industrial Average (DJI) has sunk even deeper into the red at midday, down nearly 300 points, after a tweetstorm from President Donald Trump. Following this morning's retaliatory tariffs from China, Trump seemingly ordered U.S. companies to find "an alternative to China" -- which is hitting trade-sensitive blue chips Apple (AAPL) and Caterpillar (CAT). And after Fed Chair Jerome Powell's Jackson Hole symposium speech failed to shed light on the central bank's rate-cut timeline, Trump tweeted, "who is our bigger enemy, Jay Powell or Chairman Xi?".

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

• How the freshly inked deal between VMware and Pivotal Software is affecting the two stocks. 
• Software stock hits record highs after earnings. 
• Plus, options bulls see more upside for CRM; China stock nearly triples; AB InBev's Craft Brew Alliance buyout offer goes flat. 

Salesforce.com Inc (NYSE:CRM) is seeing a pop in the options pits today, following the cloud concern's second-quarter earnings beat and an influx of bull notes, including a price-target lift to $200 from RBC. So far, 117,000 calls and 45,000 puts have crossed the tape, six times what's typically seen at this point. The weekly 8/23 160-strike call is the most popular, with positions being opened here. At last check, CRM is up 3.8% at $153.82. 

China stock Fuwei Films (Holdings) Co Ltd (NASDAQ:FFHL) is one of the best stocks on the Nasdaq today. The shares of the plastic film manufacturer have nearly tripled, up 167% at $5.28, after the firm swung to a profit in the second quarter, while net sales rose 10.7%. What's more, the stock hit a five-year high of $6.35 earlier, and is eyeing its first close atop its 320-day moving average since April, a trendline that's capped several rallies over the past year.

One of the worst performing stocks on the Nasdaq today is Craft Brew Alliance Inc (NASDAQ:BREW). The beer issue hit a new three-year bottom of $10.27 earlier, and is now down 18.4% to trade at $10.57, after Anheuser-Busch InBev (BUD) said it would not be going forward with its plan to purchase the remaining shares of the company. Despite the rejection, Cowen is still bullish, and feels confident about a potential deal between the two brewing companies sometime in the future. 

The Dow posted a strong upside move today, making up yesterday's losses and then some. Driven by impressive earnings out of Lowe's (LOW) and Target (TGT), the retail sector shined, while there was broad strength in tech, as well. Investors also monitored updates on the economic front, including positive home sales numbers and the Fed's July meeting minutes. The central bank's notes reiterated the stance that the rate cut was a "mid-cycle adjustment" and not part of a "pre-set course."

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

• Another tech stock hit by Huawei fears.
• A 7-figure options bet on oil volatility.
• Put options are popular before Gap earnings.
• Plus, CyberArk note sparks upside; Stifel's big call on a software stock; and another retailer that could rally.

The Dow Jones Industrial Average (DJI - 26,202.73) finished up 240.3 points, or 0.9%, with every blue chip closing higher -- except Walmart (WMT), which fell 0.02% despite the retail sector tailwinds. The best of the 29 Dow winners was Nike (NKE), adding 2.7%.

The S&P 500 Index (SPX - 2,924.43) rose 23.9 points, or 0.8%, while the Nasdaq Composite (IXIC - 8,020.21) picked up 71.6 points, or 0.9%. 

The Cboe Volatility Index (VIX - 15.80) dipped 1.7 points, or 9.7%.

5 Items on our Radar Today

1. On Tuesday, President Donald Trump said he was thinking about a cut to payroll taxes, but today the president said his administration would not cut taxes. Trump said such a move would be good for high-income people, not workers. (CNBC)
2. French President Emmanuel Macron told reporters that U.S. tech companies pay too little in taxes, and it's bad for American workers. This comes after France adopted a digital tax last month that falls most heavily on American tech companies. (Reuters)
3. Bullish analyst call lifted CyberArk shares.
4. Stifel is buying the pullback in one software stock.
5. Signal could be pointing to the next retail rally.

Data courtesy of Trade-Alert

Oil Prices Fall After Inventory Report

The government domestic inventories update showed a smaller decrease in crude supplies than expected, weighing on oil prices today. October-dated crude futures fell 45 cents, or 0.8%, to $55.68 per barrel

Gold prices were flat today, with December gold futures ending at $1,515.70 an ounce. However, gold futures fell in electronic trading after the release of the of the Fed meeting minutes.

It was a wild trading session for U.S. stocks. Traders early on were reacting to the newest tariff retaliation from China, which prompted tweets from President Donald Trump ordering American companies to find "an alternative to China." Huge losses from tech stocks like Apple (AAPL) and Intel (INTC) buried the Dow as a result, while the S&P and Nasdaq suffered, too. This all came amid the Jackson Hole symposium, where Fed Chair Jerome Powell said the central bank will use monetary policy to keep the economic expansion going, but conceded the U.S.-China dispute is a "new challenge."

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

• 2 retail stocks at new lows.
• Chegg option trade could offer almost 200% upside.
• Plus, a big bull call on Nike; Salesforce's post-earnings trading; and the shoe stock pullback to buy.

The Dow Jones Industrial Average (DJI - 25,628.90) got blown away for a 623.3-point, or 2.4%, loss. AAPL shares paced the 29 Dow components that closed with losses, down 4.6%. Boeing (BA) was the only blue chip to end higher, up 0.5%. With today's loss, the Dow swung into the red for the week, closing down about 1%.

The S&P 500 Index (SPX - 2,847.11) lost 75.8 points, or 2.6%, while the Nasdaq Composite (IXIC - 7,751.77) dropped 239.6 points, or 3%. The SPX fell 1.5% on the week, while the Nasdaq gave up 1.8% amid heavy losses in FAANG and chip stocks.

The Cboe Volatility Index (VIX - 19.87) rose 3.2 points, or 19.1%, to gain 7.6% from the previous Friday's close.

5 Items on our Radar Today

1. Someone in Illinois just died of lung issues potentially due to vaping. This comes a week after the Center for Disease Control (CDC) said it was investigating a number of lung illnesses potentially related to e-cigarettes. (Reuters)
2. If China's newly proposed tariffs go into effect, automakers Tesla (TSLA) and Ford (F) could be hit hard. The companies are the two top sellers of U.S. vehicles in China. (CNBC)
3. Today's big bull call on Nike.
4. Inside's Saleforce.com's post-earnings session. 
5. Why bulls should buy the Skechers pullback.

Data courtesy of Trade-Alert

Oil Falls, Gold Jumps

Oil prices fell alongside stocks today. October-dated crude futures finished down $1.18, or 2.1%, at $54.17 per barrel, putting their weekly losses at roughly 1.2%.

Gold prices jumped amid the economic and market anxiety. December gold was up $29.10, or 1.9%, to settle at $1,537.60 per ounce, hitting fresh six-year highs. The precious metal grabbed a weekly win of 0.9%.

Dow Jones Industrial Average (DJI) futures are pointed confidently higher this morning -- with the blue-chip index eyeing a 250-point open --  as Wall Street cheers fresh optimism over U.S.-China trade talks. On Sunday, President Donald Trump said the two countries are "getting back to the table," and are serious about making a deal. According to a Reuters report, Chinese Vice Premier Liu He called for "calm" negotiations, and wants to avoid any more escalation. This comes after the Dow nosedived on Friday in reaction to China's retaliatory tariffs. Elsewhere, oil prices are on the rebound, too, with October-dated crude futures up 1.3% at $54.86 per barrel. 

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

• Buy the dip on this retail stock.
• Nike stock was just named a "Best Idea."
• Analysts weren't buying VMWare's latest purchases.
• Plus, Amgen scoops up Otezla; C-suite shake up at Kraft Heinz; and Tesla may be raising prices in China.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 992,661 call contracts traded on Friday, compared to 874,414 put contracts. The single-session equity put/call ratio climbed to 0.88, while the 21-day moving average rose to 0.73.
2. Celgene Corporation (NASDAQ:CELG) stock is up 3,1% in electronic trading, after the biotech agreed to sell the global rights to its Otezla psoriasis drug to Amgen (AMGN) for $13.4 billion in cash. The deal comes after Bristol-Myers Squibb said it would divest the drug to ease antitrust concerns over its buyout of Celgene. CELG is up 46% year-to-date.
3. Kraft Heinz Co (NASDAQ:KHC) stock is up 0.8% ahead of the bell, after the food company named Paulo Basilio as its new global chief financial officer (CFO). The firm has been mired in financial troubles, while KHC stock touched an annual low of $24.88 back on Aug. 15, and was staring at a 41% deficit in 2019 going into today. 
4. The shares of Tesla Inc (NASDAQ:TSLA) are up 1% in electronic trading, after sources indicated the company was considering raising its vehicle prices in China this week, and again in December -- the latter reportedly timed with new Chinese tariffs on U.S. goods. Tesla stock has added 11% in the last three months.

5. Durable goods orders data is on the docket, as well as earnings from China stock BiliBili (BILI). 

Asian Stocks Sink; Europe Reacts to Trade Optimism

Asian markets took bearish cues from Wall Street, reacting to reports U.S. President Donald Trump said he would hike tariffs on Chinese goods. Japan's Nikkei slumped 2.2% on sharp losses from SoftBank, while South Korea's Kospi dropped 1.6% as Cosmo Chemical sold off on a discounted share offering. Elsewhere, China's Shanghai Composite fell 1.2% as the yuan hit a new low against the U.S. dollar, and Hong Kong's Hang Seng gave back 1.9%.

It's a low-volume session in Europe today, with London markets closed for holiday. The price action is occurring to the upside, though, after Trump indicated at the Group of Seven (G-7) summit over the weekend that U.S.-China trade negotiations were back on the table. At last check, the French CAC 40 is up 0.5%, and the German DAX is 0.3% higher, even after the Ifo institute business climate index fell for a fifth straight month in August.

It's a strong start to the week for the Dow Jones Industrial Average (DJI), as President Donald Trump's trade comments spark optimism on Wall Street. The blue-chip index has put on roughly 190 points, led by trade-sensitive Apple (AAPL), which has gained nearly 2%, and retailer Nike (NKE) stock, which is up 1.5%. Chip stocks, including Advanced Micro Devices (AMD) and Micron Technology (MU), are getting a huge boost, too, leading the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) higher, as well. 

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

• Analysts are losing hope fast for suffering Foot Locker stock. 
• Cowen thinks this brand new weed stock could double. 
• Plus, options bulls favor AMD amid chip sector's surge; ARCI stock skyrockets on recycling center opening; and MOGU's revenue flop sparks selloff. 

Bulls are swarming chip stock Advanced Micro Devices, Inc. (NASDAQ:AMD), as the shares climb on a sector boost. So far, 156,000 calls have crossed the tape, 1.4 times what's typically seen at this point. The weekly 8/30 32-strike call is seeing the most action, and it looks like the bulk of these contracts are being bought to open. AMD is up 3.3% at $30.47, which means these traders are expecting even more upside for the stock by the time these contracts expire at the close this Friday, Aug. 30.

Appliance Recycling Centers of America, Inc. (NASDAQ:ARCI) is one of the top stocks on the Nasdaq today, after the company's subsidiary, ARCA Recycling, announced the opening of its new recycling center in Syracuse, New York. The equity is on course for its highest close in nearly a year, as well as its fourth straight win. At last check, ARCI is up 95.1% at $6.83. 

One of the worst performers on Wall Street is Mogu Inc (NYSE:MOGU), after the China e-commerce name reported a drop in first-quarter revenue, due to marketing revenue weakness. The security is down 14.1% at $3.12, testing its footing atop its 60-day moving average -- a trendline the equity has only finished north of twice since its formation. 

Dow Jones Industrial Average (DJI) futures are trading well above fair value this morning, getting a boost from Johnson & Johnson (JNJ) stock. This is offsetting uncertainty surrounding the latest U.S.-China trade headlines, after a spokesperson for China's Foreign Ministry said they were unaware of a phone call between the two countries that was touted by U.S. President Donald Trump. Elsewhere, oil futures are higher, too, with October-dated crude futures up 1.2% at $54.27 per barrel. 

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

• Schaeffer's Senior V.P. of Research Todd Salamone breaks down the latest VIX spike.
• Options bulls target more gains for red-hot Roku stock.
• Mylan stock could be in more trouble.
• Plus, more on JNJ; Zynga a "best idea"; and Papa John's gets new boss.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 758,100 call contracts traded on Monday, the fewest since March 28. This compares to 439,235 put contracts. The single-session equity put/call ratio plummeted to 0.58, while the 21-day moving average remained at 0.73.
2. Johnson & Johnson (NYSE:JNJ) stock is up 1.4% in electronic trading, after an Oklahoma judge ordered the company pay $572 million for its role in the U.S. opioid crisis. This is significantly less than the $17 billion the state had requested. JNJ closed last night at $127.80, just below its year-to-date breakeven level.
3. Zynga Inc (NASDAQ:ZNGA) stock is up 3.6% ahead of the bell, after being added to Wedbush's "Best Ideas" list. The brokerage firm waxed optimistic about the company's upcoming title releases. ZNGA has gained 42% in 2019 through last night's close at $5.60, but has shed 15% since its Aug. 1 seven-year high of $6.65 amid increased political pressure.
4. The shares of Papa John's International, Inc. (NASDAQ:PZZA) are up 6.1% in electronic trading, after the company named Arby's Restaurant Group President Rob Lynch as its new chief executive officer (CEO). Lynch replaces Steve Ritchie, who stepped in after founder John Schnatter resigned in 2017. Year-to-date, PZZA is up 10%.

5. Today will bring the S&P CoreLogic Case-Shiller home price index and consumer confidence data. Autodesk (ADSK), Hewlett Packard Enterprise (HPE), Momo (MOMO), and Veeva Systems (VEEV) will all step into the earnings confessional. 

Trade Tailwinds Lift Asia; Europe Cheers Italy Election News

It was a mostly higher finish in Asia, as markets rode trade-related tailwinds from Wall Street. At the close, China's Shanghai Composite was up 1.4%, Japan's Nikkei gained 1%, and South Korea's Kospi tacked on 0.4%. On the flip side, Hong Kong's Hang Seng slipped 0.06% on sharp losses from China-based clothing manufacturer Shenzhou International.

European markets are mostly higher at midday amid reports Italy's 5-Star Movement and Democratic Party are negotiating a deal to avoid a snap election. Traders are also eyeing gross domestic product (GDP) data from Germany, which showed the country's economy shrank 0.1% in the second quarter, as expected, and reports China's State Council is considering easing restrictions on auto sales. Most recently, the German DAX is up 0.5%, the French CAC 40 is 0.3% higher, while London's FTSE 100 is down 0.08% as British American Tobacco drops.

The Dow Jones Industrial Average (DJI) has reversed course at midday, erasing early gains sparked by China's announcement that it might retract car-buying restrictions to boost consumption. Investors are also digesting mixed signals on the trade front, after a spokesperson for China's Foreign Ministry reiterated today they were unaware of phone calls between the two countries described by U.S. President Donald Trump. However, a rally in Johnson & Johnson (JNJ) stock is limiting the Dow's deficit. Against this backdrop, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have also turned lower. 

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

• Why options bears might want to check out this oil stock. 
• The video game stock that just made Wedbush's "Best Ideas" list. 
• Plus, Yelp's new features have options bulls circling; Ossen Innovation extends red-hot rally; and quarterly losses bruise LAIX stock. 

Options bears are bombarding online review platform Yelp Inc (NYSE:YELP), after it said it will be introducing new features today, including personalization functionality that allows the user to customize the app to suit their personal preferences. So far, 17,000 calls have crossed the tape -- 10 times the intraday average -- compared to only 719 puts. Most of this activity is centered around the weekly 8/30 33-strike call, with many of these contracts being bought to open. YELP stock is up 2.8% at $32.93 so far, which means these traders are expecting even more upside for the equity by the time this contract expires at the end of this week. 

One of the best stocks on the Nasdaq today is Ossen Innovation Co Ltd (NASDAQ:OSN), after the Chinese steel manufacturer reported well-received earnings for the first half of the year. The stock is 76.1% higher at $5.81 -- eyeing its ninth straight win and its highest close since January 2018. 

China-based AI creator LAIX Inc (NYSE:LAIX) is one of the worst performers on Wall Street today, down 17.6% at $6.60, after saying its second-quarter top line was impacted by a "tightened WeChat Moments sharing policy." In addition, CFO Bin Yu plans on stepping down from her position, but will continue to fulfill the role until a suitable replacement is hired. LAIX stock hit a new record low of $5.35, and is set for its lowest close since going public in late September.