The Dow turned in a triple-digit loss today, dragged lower by reignited U.S.-China trade tensions. A Reuters report indicated a "phase one" trade deal may not be reached until next year. On top of that, Chinese officials are unhappy after the U.S. Senate passed measures supporting Hong Kong protesters. The S&P 500 and Nasdaq also closed in the red, with trade-sensitive and tech stocks incurring the biggest losses. Elsewhere, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) earlier rose to its highest point in over a month.

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

• This sinking Chinese stock saw heightened options activity today.
• Nordstrom options popped ahead of earnings tomorrow.
• Plus, an E*TRADE bear signal; Tilray options traders call a bottom; and behind Urban Outfitter's bad day. 

The Dow Jones Industrial Average (DJI - 27,821.09) closed down 112.9 points, or 0.4%. Boeing (BA) led the nine winners with a 1.1% advance, and Home Depot (HD) paced the 21 losers with a 2.2% drop.

The S&P 500 Index (SPX - 3,108.46) dropped 11.7 points, or 0.4%, and the Nasdaq Composite (IXIC - 8,526.73) turned in a 43.9-point, or 0.5%, loss.

The Cboe Volatility Index (VIX - 12.78) shed 0.1 point, or 0.6%.

5 Items on Our Radar Today

1. U.S. diplomat Gordon Sondland delivered a bombshell of a testimony today at President Donald Trump's impeachment inquiry. Sondland asserted Trump and many members of the administration explicitly ordered him to work with Trump’s personal lawyer Rudy Giuliani in order to pressure Ukraine into political investigations. (Reuters)
2. Automaker General Motors (GM) is suing Fiat Chrysler (FCAU) for allegedly undermining its negotiations with the United Auto Workers (UAW) union. GM accused Fiat of bribing UAW workers to receive better terms in negotiations. (CNBC)
3. E*TRADE stock rally may have run out of steam.
4. Tilray options traders appear to be calling a bottom.
5. See why analysts and options bears alike piled on Urban Outfitters stock today.

Oil Rallies on Surprise Drop in Crude Supplies

Oil prices gained ground today, after U.S. crude supplies rose by less than expected. December crude futures added $1.90, or 3.2%, to close at $57.11 per barrel. The new front-month January contract added $1.66, or 3%, to close at $57.01 per barrel.

Gold prices finished slightly lower, with December gold futures shedding 10 cents to close at $1,474.20 an ounce. The most-active contract continued to edge down in electronic trading, after the Fed minutes showed the central bank is upbeat about the U.S. economy.

After a slow first half of the day, stocks came alive in afternoon trading, with the Dow notching a triple-digit win. But while the S&P 500 and Nasdaq also both ended in the black, the major indexes all closed the week in the red, snapping their respective weekly winning streaks. The retail sector remained in focus due to Nordstrom's blowout earnings reaction, and there was also lingering chatter on the U.S.-China trade dispute.

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

• Inside the massive call trading around GM.
• Dissecting Slack's bearish chart. 
  
• Plus, Alibaba's bull note; 2 earnings winners; and options trading picks up on Uber.

The Dow Jones Industrial Average (DJI - 27,875.62) added 109.3 points, or 0.4%, with 20 of 30 of its components settling higher. Pfizer (PFE) had the best day, picking up 1.6%. Intel (INTC) was the biggest loser, down 1%. With this week's 0.5% loss, the Dow's weekly win streak ends at four.

The S&P 500 Index (SPX - 3,110.29) rose 6.8 points, or 0.2%, and the Nasdaq Composite (IXIC - 8,519.89) closed up 13.7 points, or 0.2%. The S&P ended its six-week win streak with a 0.3% loss, and the Nasdaq's seven-week streak is done after it shed 0.3%.

The Cboe Volatility Index (VIX - 12.34) dipped 0.8 point, or 6%, but closed the week 2.4% higher for its first weekly win since September.

5 Items on Our Radar Today

1. The Federal Communications Commission (FCC) today voted 5-0 to designate Chinese technology providers Huawei and ZTE as national security threats. The companies have 30 days to challenge the ruling, which could require U.S. telecom companies to replace all existing technology from the Chinese firms in their networks. Meanwhile, the European Union also just announced rules that could be bad for Huawei. (Reuters)
2. Michael Bloomberg is spending millions on ads as he seemingly gears up for a 2020 presidential run. Data from Advertising Analytics shows the former New York mayor buying ads in more than 25 markets, and the campaign told CNBC it's spent roughly $23 million on the ad buys. (CNBC)
3. Behind this Alibaba bull note.
4. 2 huge earnings winners.
5. What sparked options trading on Uber.

Oil, Gold Close the Week Lower

Oil prices dipped today, with January crude futures finishing down 81 cents, or 1.4%, to end at $57.77 per barrel. This put the weekly loss for oil at roughly 0.1%.

December gold futures finished flat today at $1,463.60, as upbeat economic data hurt demand for gold. Gold closed the week down 0.3%.

Stock futures are signaling another rally today, following Friday's last minute turnaround. Dow futures are roughly 81 points above fair value after comments on Saturday from U.S. national security advisor Robert O'Brien suggested a "phase one" trade deal between the U.S. and China could be in effect by the end of this year, even as he cautioned that President Donald Trump was "concerned" about the protests in Hong Kong. In corporate news, it seems the rumors are true; Charles Schwab (SCHW) said it would acquire TD Ameritrade (AMTD) in an all-stock deal worth $26 billion, which will create a combined company with $5 trillion in assets under management. 

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

• Why one analyst thinks this big-cap China stock is a good bet. 
• 2 stocks that soared after impressive quarterly reports. 
• Plus, LVMH bids for Tiffany; Tesla stock bounces back; NVDA stock gets an upgrade. 

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 1.13 million call contracts traded on Friday, compared to 659,956 put contracts. The single-session equity put/call ratio moved down to 0.58, while the 21-day moving average came in at 0.58.
2. The shares of jewelry issue Tiffany & Co. (NYSE:TIF) are up 5.8% in electronic trading after the company said it would be acquired by Louis Vuitton parent LVMH in a deal worth $16.2 billion, or $135 per share -- up from the initial bid of $120 per share. TIF is set to open around $132.81.
3. Despite last Friday's awkward Cybertruck debut, the shares of Tesla Inc (NASDAQ:TSLA) are up 4% in electronic trading after tweets from CEO Elon Musk indicated that nearly 200,000 pre-orders for its newest electric pickup truck have already been placed. The Cybertruck pre-order involves a fully refundable $100 fee.
4. Chip stock Nvidia Corporation (NASDAQ:NVDA) is rising this morning after Morgan Stanley upgraded the stock to "overweight" from "equal weight," and lifted its price target to $259 from $217. In a note to clients, the brokerage predicted a return to growth in the gaming and data center markets for 2020. NVDA is up 2.7% in pre-market action, on track to open around $216.48.
5. Today's economic calendar features the Dallas Fed manufacturing survey. Agilent Technologies (A), Ambarella (AMBA), Hewlett Packard Enterprise (HPE), Nutanix (NTNX), and Palo Alto Networks (PANW) will report earnings.

Pro-Democracy Victory for Hong Kong Gives Asian Stocks a Boost 

Hong Kong-listed stocks led the charge to a positive finish for Asian markets today, after Sunday's polls yielded a landslide victory for pro-democracy candidates on record voter turnout. The Hang Seng settled 1.5% higher on an election-related break from months of unrest, while South Korea's Kospi was close behind with a 1% gain. Elsewhere in the region, China's Shanghai Composite climbed 0.7%, and Japan's Nikkei advanced 0.8%.

Politics are also in focus over in Europe, where equity benchmarks are modestly higher at midday. Britain's Conservative party over the weekend launched its manifesto ahead of the Dec. 12 general election, with Prime Minister Boris Johnson vowing to "get Brexit done." On the data front, Germany's Ifo business climate index ticked higher in November, and among individual stocks, luxury conglomerate LVMH is up 1.4% in Paris after its bid to acquire upscale jeweler Tiffany. At last check, London's FTSE 100 is up 0.9%, the German DAX has gained 0.5%, and the French CAC 40 has edged 0.3% higher.

Stocks are soaring today, with the technology sector leading the way higher on reports Beijing is seeking greater protection for intellectual property rights -- a key hurdle in U.S.-China trade negotiations. Wall Street is also sifting through an onslaught of M&A headlines, including news Charles Schwab (SCHW) will buy fellow broker TD Ameritrade (ATMD), and French luxury retailer LVMH will purchase Tiffany & Co (TIF). At last check, the Dow Jones Industrial Average (DJI) was up triple digits, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) were holding near the record intraday highs they hit earlier.

• Founder and CEO Bernie Schaeffer uncovers a potential bearish barrier in the options market.
• Analyst targets 20% upside for red-hot chip stock.
• Plus, Teva Pharmaceutical pop sparks heavy options trading; Arrowhead Pharmaceuticals climbs Nasdaq after upgrade; and a sinking penny stock.

Teva Pharmaceutical Industries Ltd (NYSE:TEVA) is seeing unusual options volume, with nearly 58,000 contracts traded so far -- more than two times what's typically seen at this point, and volume pacing in the 98th annual percentile. The March 11 and 12 puts are most active due to what could be a possible roll down, while nearer-term traders appear to be buying to open the weekly 11/29 11-strike calls. TEVA stock is up 7.2% at $10.97, after a Bloomberg report suggested generic drugmakers are working with U.S. regulators to end a price-fixing probe.

Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) is near the top of the Nasdaq, up 19.2% at $58.66, earlier hitting a 12-year peak of $59.72. This comes after Baird shifted gears on the stock, upgrading it to "outperform" from "neutral," and boosting its price target to $70 from $39, saying Novartis' buyout of Medicines Co (MDCO) could mark a period of consolidation among RNAi therapeutics' developers.

La Jolla Pharmaceutical Company (NASDAQ:LJPC) is one of the worst stocks on the Nasdaq, after the company ended a study for its iron overload treatment and announced the departure of CEO George Tidmarsh. LJPC stock has plunged 55.3% to trade at $2.49, earlier tagging a seven-year low of $2.41.

Stock futures are muted this morning, with the Dow signaling a tentative 17-point gain at the open just one day after the major U.S. equity indexes notched even more record highs. The quiet open comes as Dallas Fed President Robert Kaplan tells CNBC that the central bank is predicting "weak" economic growth for the U.S. in the fourth quarter. It's a busy session for retail earnings, too; Abercrombie & Fitch (ANF) and Dollar Tree (DLTR) are set to open lower after their respective quarterly results, while Dick's Sporting Goods (DKS) is pacing for a bull gap. 

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

• What sparked monster moves for 3 pharma stocks. 
• The StubHub buzz making options players reach for EBAY. 
• Plus, BBY stock soars on holiday forecast; AIG sells a reinsurance stake to Carlyle; and HPE flops on revenue miss. 

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 1.01 million call contracts traded on Monday, compared to 636,310 put contracts. The single-session equity put/call ratio moved up to 0.63, while the 21-day moving average came in at 0.58.
2. Best Buy Co Inc (NYSE:BBY) took its turn in the earnings confessional this morning, posting third-quarter same-store sales that exceeded analysts' estimates, and forecast strong profits for its upcoming holiday quarter. The stock is up 4.1% ahead of the bell. 
3. American International Group Inc (NYSE:AIG) this morning said it would be selling a 76.6% stake of its reinsurance business Fortitude Re to T&D Holdings and the Carlyle Group (NASDAQ:CG) for $1.8 billion. AIG is fractionally higher in electronic trading. 
4. Hewlett Packard Enterprise Co (NYSE:HPE) is down 4% in pre-market trading after reporting fourth-quarter revenue that missed analysts' expectations, citing shaky demand amid the simmering trade conflict between the U.S. and China. 
5. Today, Wall Street will get updates on international trade, the S&P CoreLogic/Case Shiller home price index, new home sales, and consumer confidence. Earnings from Autodesk (ADSK), Burlington Stores (BURL), PVH Corp (PVH), and VMware (VMW) are due.

Asian Markets Tumble Despite BABA's Huge Hong Kong IPO

Asian markets finished mixed today, unable to benefit from Chinese tech giant Alibaba's (BABA) big day. The e-commerce concern had its initial public offering (IPO) in Hong Kong, marking the biggest IPO of 2019, and the shares climbed 6.6%. It wasn't enough to boost Hong Kong's Hang Seng, which shed 0.3%, while China's Shanghai Composite closed marginally higher. Rounding out the region, Japan's Nikkei closed up 0.4%, while South Korea's Kospi gave back 0.1%.

Over in Europe, stocks are struggling for direction at midday, as investors await the latest U.S.-China trade headlines, especially after reports that the two sides held phone discussions this morning in the hopes of "resolving core issues." London's FTSE 100 is up 0.1%, as polling suggests the Conservative Party's lead over the opposition Labour Party is narrowing. Elsewhere, the French CAC 40 is flat, while the German DAX is down 0.1%.

Stocks have muscled their way to new highs today, with the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) each hitting fresh all-time peaks earlier. Retail stocks are some of the day's best performers so far, thanks to positive earnings reactions for several names, including Dick's Sporting Goods (DKS). Traders are also digesting a busy day of economic data, which includes an unexpected drop in October new home sales -- though September's numbers were upwardly revised -- as well as the Conference Board's consumer confidence index, which fell for a fourth straight month in November.

• The retail stock at new highs after earnings.
• Why Square's red-hot win streak could continue.
• Plus, bulls blast Mosaic; the cybersecurity stock near the bottom of the Big Board; and more on Dick's Sporting Goods earnings.

Fertilizer name Mosaic Co (NYSE:MOS) is seeing unusual options activity today, with more than 19,000 contracts traded -- 11 times the average intraday amount. The January 2020 19-strike call is most active, and it looks like new positions are being purchased, meaning traders are eyeing a breakout above $19 over the next two months. MOS stock was last seen up 0.3% at $18.69, but is still down 36% year-to-date.

Palo Alto Networks Inc (NYSE:PANW) is one of the biggest losers on the New York Stock Exchange (NYSE) today, as the cybersecurity firm's dismal current-quarter earnings forecast offsets a fiscal first-quarter profit beat. A round of price-target cuts is only increasing pressure, with PANW last seen down 10.9% at $223.01 -- a much wider move than the options market was anticipating.

Dick's Sporting Goods, Inc. (NYSE:DKS) is one of the best stocks on the Big Board this afternoon, breaking through recent congestion in the $41 region to trade up 20.1% at $47.37. What's more, the shares topped out at a two-year high of $47.79 earlier. This bull gap was sparked by the sporting goods retailer's beat-and-raise, as well as a price-target hike to $50 from $40 at CFRA.

Stocks rallied today thanks to positive headlines around U.S.-China trade relations, with the latter country saying it will raise penalties for intellectual property theft. A flurry of corporate dealmaking also added to the bullish bias, as the tech sector -- and chip stocks in particular -- helped lead the market higher. The S&P 500 and Nasdaq roared to record highs as a result, and the Dow's big day has it knocking on the door of a fresh all-time peak, as well.

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

• Why one analyst says to ditch Netflix stock.
• Puts are starting to pop on retail ETF XRT.
  
• Plus, huge moves from pharma stocks; Disney stays hot; and e-commerce stock moves on M&A buzz.

The Dow Jones Industrial Average (DJI - 28,066.47) rose throughout the day, ending up 190.9 points, or 0.7%. Twenty-two of the 30 Dow components closed higher, with UnitedHealth's (UNH) 2.1% gain leading the way. Exxon Mobil (XOM) fell 0.7% to pace the losers.

The S&P 500 Index (SPX - 3,133.64) added 23.4 points, or 0.8%, and the Nasdaq Composite (IXIC - 8,632.49) jumped 112.6 points, or 1.3%.

The Cboe Volatility Index (VIX - 11.87) fell 0.5 point, or 3.8%.

5 Items on Our Radar Today

1. RISC-V Foundation, a nonprofit that's developing semiconductor technology with help from the Pentagon, is moving to Switzerland due to trade disruptions in the U.S. The firm was started back in 2015, and more than 325 companies pay to be members. (Reuters)
2. The price of cryptocurrency bitcoin continues to fall, after China's central bank warned people about digital currencies on Friday. Bitcoin has lost roughly $3,000 in value in a month, and is at the lowest levels since May. (CNBC)
3. These pharma stocks made huge moves today.
4. Why Disney stock was hot again.
5. M&A news sent traders to this e-commerce stock.

Oil Prices Gain with Stocks

Oil prices moved higher today with equities. January crude futures finished up 24 cents, or 0.4%, at $58.01 per barrel.

Gold prices fell today during the risk-on trading. December gold futures gave back $6.70, or 0.5%, to end at $1,456.90 an ounce.

Stocks spent most of the day trading in positive territory, with the Dow, S&P 500, and Nasdaq all hitting record highs, though they closed with only modest gains. Retail earnings were again in focus, with mostly favorable reactions, while investors also weighed a batch of lukewarm economic data. Overall, however, it was a somewhat low-volume session on Wall Street, with many traders possibly already stepping away from their desks ahead of Thursday's Thanksgiving Day holiday.

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

• How call traders rode the huge rally in Global Blood Therapeutics.
• The options market responded quickly to one retailer's weak outlook.
  
• Plus, bulls stay on Disney; beverage stock set up for bulls; and 3 stocks with heavy options trading.

The Dow Jones Industrial Average (DJI - 28,121.68) rose 55.2 points, or 0.2%, with 17 of 30 components closing higher. Merck (MRK) had the best day, adding 1.9%, and Walgreens Boots Alliance (WBA) was the worst off with its 1.7% decline.

The S&P 500 Index (SPX - 3,140.52) rose 6.9 points, or 0.2%, and the Nasdaq Composite (IXIC - 8,647.93) added 15.5 points, or 0.2%.

The Cboe Volatility Index (VIX - 11.54) dipped 0.3 point, or 2.8%.

5 Items on Our Radar Today

1. The Food and Drug Administration's (FDA) CBD warning last night sent waves throughout the weed sector today. The FDA on Monday said there are "serious concerns about potential harm from CBD." (MarketWatch)
2. Mexico's economy has entered what one economist deemed a "technical recession." It's rare to see the Mexican economy retract while the U.S. keeps growing, and this comes as Congress still has yet to approve the U.S.-Mexico-Canada (USMCA) trade agreement -- a replacement for NAFTA. (CNBC)
3. Bulls keep targeting Disney.
4. A beverage stock for call buyers to bet on.
5. 3 stocks that saw heavy options trading.

Oil and Gold Prices Gain

Oil prices rose today thanks to trade-deal hopes. January crude futures finished up 40 cents, or 0.6%, at $58.41 per barrel.

Gold prices also grabbed a win today. December gold futures added $3.40, or 0.2%, at $1,460.30 an ounce.

Stock futures are pointing to a positive open ahead of the Thanksgiving holiday, as U.S. President Donald Trump said the U.S. and China are in the "final throes of a very important deal." The comments followed a phone call between the two nations in which negotiations were discussed, and an agreement to keep working through the key issues was made. As a result, stocks are on track to notch fresh highs yet again.

On the economic docket, investors are poring over a 2.1% rise in gross domestic product (GDP) data for the third quarter, which exceeded analysts' expectations. Durable goods data also topped estimates with an unexpected 0.6% rise in October. 

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

• The best & worst Black Friday stocks, according to Schaeffer's Senior Quantitative Analyst Rocky White. 
• Options bulls are betting on new highs for this blue chip. 
• Plus, Deere stock sputters on disappointing forecast; AAPL increases AirPod production; VMware get blasted with bull notes.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 974,479 call contracts traded on Tuesday, compared to 554,578 put contracts. The single-session equity put/call ratio moved down to 0.57, while the 21-day moving average came in at 0.58.
2. Tractor issue Deere & Company (NYSE:DE) is down 4% in electronic trading. In its fiscal fourth-quarter earnings report, the agriculture-dependent firm warned that "lingering trade tensions" have impacted demand, and offered a full-year 2020 earnings outlook that missed the mark. 
3. Shares of Apple Inc. (NASDAQ:AAPL) are inching 0.4% higher ahead of the bell after a Nikkei report said that Chinese manufacturer Luxshare has been asked to double its production of AirPods Pro earbuds to roughly 2 million units per month. 
4. Software concern VMware, Inc. (NYSE:VMW) is set to open up 2.9% this morning after posting third-quarter earnings of $1.49 per share, and revenue of $2.46 billion, both of which beat analysts' estimates. In response, at least six brokerage firms have already lifted their price targets on VMW stock. 
5. Today's economic calendar also includes personal income and spending, pending home sales, weekly crude inventories, and an early look at weekly jobless claims. The Fed's Beige Book is also slated for release, while GameStop (GME) will report earnings.

Asian, European Markets Inch Higher Amid Economic Data 

Markets in Asia finished mostly higher, but investors are still eager for the next U.S.-China trade deal development. China's Shanghai Composite was the region's only loser, closing down 0.1%, after the National Bureau of Statistics showed industrial profits declined year-over-year in October. Hong Kong's Hang Seng gained 0.1%, and both Japan's Nikkei and South Korea's Kospi added 0.3%.

Over in Europe, stocks are inching higher around midday. The French CAC 40 is up 0.1% after consumer confidence grew by a larger-than-expected amount and reached two-year highs in November. London's FTSE 100 is up 0.5% at last check, while the German DAX is 0.3% higher, despite a rough post-earnings outing from auto parts manufacturer Knorr Bremse.

It was another up day for stocks, as the Dow, S&P 500, and Nasdaq all hit new highs yet again. While upside was somewhat limited in the pre-holiday trading, there was still plenty of data for traders to consider, including a solid update on third-quarter gross domestic product (GDP). Retailers also made big moves again, including outside the earnings space, with Under Armour (UAA) jumping on positive analyst attention.

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

• The FAANG stock that could underperform.
• Bearish signal flashes in the healthcare sector.
  
• Plus, a sector for bulls; Under Armour's rally; and a quantitative look at Black Friday.

The Dow Jones Industrial Average (DJI - 28,164.00) enjoyed a 42.3-point, or 0.2%, win, with 19 of 30 blue chips ending with gains. Apple (AAPL) jumped 1.3% to pace the gainers, and Boeing (BA) had the worst day, dropping 1.5%.

The S&P 500 Index (SPX - 3,153.63) added 13.1 points, or 0.4%, and the Nasdaq Composite (IXIC - 8,705.18) rose 57.2 points, or 0.7%.

The Cboe Volatility Index (VIX - 11.75) also gained, adding 0.2 point, or 1.8%.

5 Items on Our Radar Today

1. Ford (F) and Tesla (TSLA) are, apparently, serious about having a tug of war between their pick-up trucks, and people are betting on the contest. Tesla is favored to win at 5-to-2 odds. (Reuters)
2. A major winter storm is moving in just behind the Thanksgiving holiday. So far, it's dropped a foot of snow in some areas, while Minneapolis in particular got hit with nine inches. Meanwhile, some airports are already reporting delays. (AP)
3. One sector bulls could trade next month.
4. Embattled Under Armour attracts a bull note.
5. ICYMI: Stocks that outperform after Black Friday.

Oil Drops on Inventory Update

Oil prices moved backwards today on a surprise increase in domestic crude inventories. January-dated crude futures finished down 30 cents, or 0.5%, at $58.11 per barrel.

Gold prices were under pressure during the rise in equities. February gold futures shed $6.60, or 0.4%, to settle at $1,455 an ounce.

Stock futures are in cool-down mode ahead of today's shortened session, following this month's string of fresh highs. Despite this, major equity benchmarks are eyeing impressive monthly gains, with the S&P looking to clock its biggest one-month percentage jump since June. The retail sector is in focus as the Black Friday shopping event rears its head, with early data from Adobe suggesting online sales hit a new record on Thanksgiving. 

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

• How drug stock options bears could double their money by Christmas. 
• One bullish analyst isn't shaken by Under Armour's SEC probe. 
• Plus, PCG set to slide again; TECD stock soars on buyout offer; and CVX eyes an exit from Nigeria. 

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 980,600 call contracts traded on Wednesday, compared to 572,674 put contracts. The single-session equity put/call ratio moved up to 0.58, while the 21-day moving average came in at 0.58.
2. Utility stock PG&E Corporation (NYSE:PCG) is set to drop again, this time after the company lost a legal challenge that means it's liable for damage from California wildfires. PCG shares hit a new low last month, and are trading down 2.4% before the open.
3. Tech Data Corp (NASDAQ:TECD) is up 11.9% to trade at $144.30 before the open on news Apollo Global Management raised its buyout offer for the company by $15 per share to $145, valuing TECD at $5.14 billion (excluding debt). The move comes after another suitor stepped up with a competing bid, and CNBC is reporting that was in fact Warren Buffett's Berkshire Hathaway (BRKA).
4. The shares of blue chip name Chevron Corporation (NYSE:CVX) are inching higher this morning, up 0.9% in electronic trading, after the company confirmed a Reuters report that it's planning to sell its stakes in two separate Nigerian offshore oil and gas blocks. Chevron is looking to exit the theft-prone Nigerian market in favor of focusing on its U.S.-based production business, per the report.
5. Today's shortened session will feature the Chicago purchasing managers index (PMI). The focus stays on consumer discretionary stocks next week, as retail earnings and Cyber Monday sales numbers are set to hit Wall Street.

Hong Kong Tensions Slam Asian Markets 

Stocks in Asia were lower across the board to end the week, as escalating tensions over Hong Kong threaten to dampen prospects of a U.S.-China trade agreement. Beijing accused the U.S. of "sinister intentions" after President Donald Trump on Wednesday signed a bill in support of Hong Kong protesters. Hong Kong's Hang Seng gave back 2% as health insurer AIA took on heavy losses, while China's Shanghai Composite shed 0.6%. Rounding out the region, South Korea's Kospi fell 1.5% after the Bank of Korea decided to keep interest rates steady, and Japan's Nikkei lost 0.5%.

Markets are mixed in Europe, as investors weigh the U.S.-China trade headlines alongside economic data. London's FTSE 100 is down 0.2%, at last check, after November consumer confidence fell to its lowest point since 2013. Elsewhere, the French CAC 40 is up 0.2% after third-quarter gross domestic product grew in line with estimates, while the German DAX is also up 0.2%.

Stocks are little changed at midday, as traders look ahead to tomorrow's Thanksgiving Day holiday. While the price action is muted, there's plenty of economic data to digest, including a stronger-than-anticipated reading on third-quarter gross domestic product (GPD) and an eighth straight monthly rise in consumer spending in October. At last check, the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are all holding near yesterday's record highs.

• A third-quarter beat is putting the squeeze on VMware shorts.
• Deere breaches key trendline in trade-related tumble.
• Plus, Guess sees surge in post-earnings options volume; UAA pops; and one retailer moving lower.

Guess?, Inc. (NYSE:GES) is seeing unusual options volume amid the retail stock's volatile post-earnings session. Roughly 22,500 options have changed hands -- 31 times what's typically seen, and volume pacing in the 100th annual percentile. GES stock was down 6.9% earlier on weak third-quarter revenue and full-year revenue guidance, but was last seen up 4.3% at $19.90, possibly in reaction to the retailer's quarterly profit beat.

Under Armour Inc (NYSE:UAA) is at the top of the S&P, after Raymond James upgraded the athletic apparel retail stock to "strong buy" from "outperform." UAA stock is up 4.8% at $18.85, but is running out of steam at its descending 80-day moving average, and has a ways to go before filling an early November bear gap.

PVH Corp (NYSE:PVH) is near the bottom of the SPX, down 2.2% at $97.82 -- back below the key century mark. The retail stock was hit with an onslaught of analyst attention following Monday night's earnings report, including a price-target cut to $110 from $120 at Evercore ISI.