The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are grinding to new highs again, and the Dow Jones Industrial Average (DJI) is also higher, as stocks continue to rally into the new year. With the Nasdaq looking for a 10th consecutive record close, traders are monitoring more trade buzz and this morning's jobless claims update that matched expectations. Bulls are also cheering upbeat e-commerce sales data for the holiday season, though trading volumes remain somewhat thin during the holiday-shortened week.

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

• Amazon sales update sends stock to fresh high.
• Drug trial fail sinks pharma stock.
• Plus, First Solar options hot; ACN's rally fades; and MBOT pares recent gains. 

One name seeing unusual options trading is First Solar, Inc. (NASDAQ:FSLR), due to 9,600 contracts traded at the weekly 1/24 63-strike call. For comparison, fewer than 600 contracts have crossed at the next most popular option. It looks like traders are buying to open positions, betting on more upside from FSLR shares in the coming weeks. The solar stock has been rising with the broader markets, setting its sighs on the just-above 200-day moving average.

Accenture Plc (NYSE:ACN) was hot out of the gate, but was last seen up just 0.2% at $211.87, after the stock received bullish analyst attention today. The shares are earlier nabbed a record high of $212.12, and set to close 2019 up 50%.

One stock moving lower is Microbot Medical Inc (NASDAQ:MBOT), giving up some of its recent gains due to a discounted stock offering priced at $10.50 that was a 35% discount to its Christmas Eve closing perch of $16.28. The equity was last seen trading down 16% at $13.67, after peaking at $20.15 in Tuesday's trading.

Stocks hit even more record highs during the post-Christmas session. The Nasdaq, in particular, surged above the 9,000 level for the first time ever, and clocked its 11th consecutive win. This marked its longest daily winning streak since 2009, with the tech-heavy index strengthened by a huge surge in Amazon (AMZN) shares, which rallied amid record-breaking holiday sales. Meanwhile, the S&P and Dow managed to notch fresh highs, too.

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

• If history is any indicator, this tech stock could see big gains in early 2020. 
• 3 reasons options bears should pay attention to OXY stock. 
• Plus, ACN gets a bull note; TSLA grabs new highs; and SPPI stock slammed after study. 

The Dow Jones Industrial Average (DJI - 28,621.39) added 105.9 points, or 0.4%. The 24 winners were led by Apple (AAPL), which added nearly 2%, while Boeing (BA) fell to the bottom of the five losers, shedding 0.9%. Procter & Gamble (PG) finished flat. 

The S&P 500 Index (SPX - 3,239.91) settled 16.5 points, or 0.5%, higher, while the Nasdaq Composite (IXIC - 9,022.39) climbed 69.5 points, or 0.8%. 

The Cboe Volatility Index (VIX - 12.65) lost 0.02 point, or 0.2%.

5 Items on Our Radar Today

1. A new law has just been proposed by the Federal Aviation Administration (FAA) that would make it possible for the government to track nearly all drones in the U.S. The rule would legally require each drone to don a remote tracking device, which could help field security threats. (CNBC)
2. Shipping concern United Parcel Service (UPS) forecast package returns hitting a record high of 1.9 million on Jan. 2, as the holiday season comes to a close. The company cites a surge in online shopping this year, and a changing returns process. (Reuters)
3. The post-Christmas bull note that had Accenture stock celebrating. 
4. Behind Tesla stock's climb toward even more record highs. 
5. One of the worst drug stocks on the Nasdaq today. 

There are no earnings of note today.

Oil Logs Third Straight Win

Oil surged today, clocking its third consecutive win and highest level since September, following a bigger-than-expected weekly drop in crude stockpiles in the U.S. February-dated crude futures added 57 cents, or 0.9%, to end at $61.68 per barrel.

Gold continued to surge today. February gold futures settled up $9.60, or 0.6%, to end at $1,514.40 an ounce -- the metal's highest settlement since Oct. 31.

Fresh off a post-Christmas climb to new record highs, Dow Jones Industrial Average (DJI) futures are signaling a nearly triple-digit pop out of the gate this morning. The S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also on pace for positive opens today, with the Santa Claus rally taking a strong hold this year amid trade tailwinds. The latter is fresh off its 10th straight record close, with volume expected to be light again in today's trading. 

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

• This airline stock could hit turbulence in early 2020. 
• A trial fail dinged this drug stock.
• Plus, Comcast eyes streaming purchase; Tesla Shanghai factory makes first delivery; and Zynga a best idea in 2020.  

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 1.15 million call contracts traded on Thursday, compared to 499,232 put contracts. The single-session equity put/call ratio slipped to 0.43, while the 21-day moving average fell to 0.57.
2. Comcast Corporation (NASDAQ:CMCSA) stock is in focus this morning, after the Wall Street Journal reported the broadcasting company is in talks to acquire video-streaming company Xumo. After a Sept. 12 record high of $47.27, CMCSA has spent recent months consolidating below its 50-day moving average.  
3. Staying hot this morning is Tesla Inc (NASDAQ:TSLA), up 1.1% ahead of the bell after the electric car company announced it will deliver the first 15 Model 3 cars from its Shanghai factory this Monday, Dec. 30. TSLA is fresh off a big bull note and another record high. 
4. The shares of Zynga Inc (NASDAQ:ZNGA) are up 0.9% in electronic trading, after Stephens indicated the online gaming issue will be kept on its Best Ideas list for 2020. ZNGA is up 60% in 2019, but has traded in a tight range between $6 and $6.50 in the last three months, with its 160-day moving average containing pullbacks.

5. There is nothing else on the economic calendar today.

Asian Markets Mixed; European Stocks Join Rally

It was a mixed trading session in Asia, with markets settling on both sides of the breakeven. The Hang Sang in Hong Kong was the biggest winner, reopening after a two-day holiday break and notching a five-month high, closing up 1.3% as investors took a cue from surging U.S. markets amid easing geopolitical sentiments. China’s Shanghai Composite closed slightly lower, down 0.08%, brushing off upbeat industrial profits data for November. Elsewhere, the Nikkei in Japan dropped 0.4% on a worse-than-expected decline in retail sales last month, while the South Korean Kospi added 0.3%, buoyed by a big win for Samsung Electronics. 

Stocks in Europe are taking a cue from Wall Street as well, with all major markets soaring during midday trading. The German DAX is in the lead at last glance, up 0.6%, while the French CAC 40 has tacked on 0.4%, and the London FTSE 100 is up 0.3%. 

The Dow Jones Industrial Average (DJI) hit a new high out of the gate today, extending a Christmas week rally that's put the blue-chip index on track for a third straight weekly win. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) also tagged fresh peaks today, with the latter index holding above the round 9,000 mark, and pacing toward its 12th straight daily gain -- its longest winning streak since July 2009.

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

• Analyst: This red-hot drug stock can rally another 43%.
• Behind Tesla stock's new high.
• Plus, Qiagen bulls bet on a bigger bounce; Amazon keeps rallying; and American Airlines nosedives. 

One name seeing unusual options volume today is Qiagen NV (NYSE:QGEN), with calls running at seven times what's typically seen at this point in the session. The January 2020 35-strike call is most active, and it looks like new positions are being purchased here. QGEN stock sank 20.6% yesterday on news the genetic testing name took itself off the auction block, but is up 3.1% today to trade at $33.94.

Amazon.com, Inc. (NASDAQ:AMZN) is near the top of the S&P 500 today, up 1.6% at $1,898.66. The FAANG stock made a decisive move higher yesterday on strong holiday sales numbers, and is now on track to close north of its 40-week moving average for the first time since September.

American Airlines Group Inc (NASDAQ:AAL) is at the bottom of the S&P this afternoon, down 2.7% at $28.88. The travel shares recently ran into their 160-day moving average -- a trendline that's had historically bearish implications for the AAL stock.

It was another blow-out session on Wall Street, with the Dow notching a triple-digit gain on news that China will be slashing import tariffs on a number of goods. A nearly 3% win for Boeing (BA) also helped boost the blue chip index, after the aircraft company fired CEO Dennis Muilenburg. As far as economic data is concerned, traders weighed a rise in new home sales last month, as well as a 3% drop in durable goods orders for November. Investor optimism extended to the Nasdaq and S&P, with the former grabbing its ninth straight win -- it's longest streak since October 2017. 

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

• The internet stock that Wedbush thinks could surge in the new year. 
• Options bulls like these 2 social media stocks. 
• Plus, options bull bets big on PEP stock; the drug stock that tripled; and why JD.com stock hit a new high. 

The Dow Jones Industrial Average (DJI - 28,551.53) added 96.4 points, or 0.3%. Twenty-four of the 30 components ended higher. Boeing (BA) took the lead on a 2.9% win, while Walt Disney (DIS) sunk to the bottom after shedding 1.5%.

The S&P 500 Index (SPX - 3,224.01) settled 2.8 points, or 0.1%, higher, while the Nasdaq Composite (IXIC - 8,945.65) climbed 20.7 points, or 0.2%. 

The Cboe Volatility Index (VIX - 12.61) rose 0.1 point, or 0.8%.

5 Items on Our Radar Today

1. Nike (NKE) spokesman and former NFL player Colin Kaepernick's new "True to 7" shoe -- designed in collaboration with the sneaker producer -- was released in North America today, and already sold out. The Air Force 1 shoe retails at $110 and features an embroidered likeness of Kaepernick on the heel tab. (CNBC)
2. Investment manager T. Rowe Price just announced it is putting $1.3 billion into privately owned electric car company Rivian. This marks the fourth investment for the Plymouth, Michigan-based startup, putting it ahead in the highly competitive electric auto market led by Tesla (TSLA). (Reuters)
3. Breaking down one options bulls' big bet on PepsiCo stock. 
4. This pharma stock just had its best day on record. 
5. Behind the IPO report giving JD.com stock a boost. 

There are no earnings of note today.

Oil, Gold Settle Higher Ahead of Holiday

Oil inched higher today as geopolitical tensions eased, brushing off rumors of a pact between the Organization of the Petroleum Exporting Countries (OPEC) and its allies to ease global output at a coming meeting in March. February-dated crude futures added 8 cents, or 0.1%, to settle at $60.52 per barrel.

Gold surged to six-week highs today, breaking north of the psychologically significant $1,480 level. February gold futures were up $7.80, or 0.5%, to end at $1,488.70 an ounce. 

The Dow, S&P, and Nasdaq all hit record intraday highs today, building on big Christmas week gains. But while the Dow and the S&P maintained this positive momentum through to the close, the Nasdaq snapped its lengthy winning streak, dampened by Netflix (NFLX) stock, which suffered its third daily loss of the week. Amid the holiday-shortened week and thin trading, all three indexes saw solid wins for the week -- and for the S&P, it was its fifth straight weekly advance.

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

• The recovering healthcare stock that options bulls are coming around to. 
• Behind the monster Rite Aid rally sparking wild options activity today. 
• Plus, TSLA clocks another fresh high; FLXN stock surges; and IMMU gets a bull note.

The Dow Jones Industrial Average (DJI - 28,645.26) added 23.9 points, or 0.1%. The 19 winners were led by Nike (NKE), which added 0.9%, while Dow (DOW) fell to the bottom of the 11 losers, shedding 0.7%. For the week, the index settled 0.7% higher. 

The S&P 500 Index (SPX - 3,240.02) settled 0.1 point higher, with a 6% pop for the week. Meanwhile, the Nasdaq Composite (IXIC - 9,006.62) fell 15.8 points, or 0.2%, but added 0.9% for the week. 

The Cboe Volatility Index (VIX - 13.43) added 0.8 point, or 6.2%. It rose 7.4% on the week. 

5 Items on Our Radar Today

1. Spotify (SPOT) just announced that it will be placing a ban on political advertisements in the new year. The music streaming giant suggested it didn't have adequate resources to review the ads, distancing itself from Facebook (FB), which will continue to allow political ads on its site. (CNBC)
2. Several people have been identified by the FBI as having been linked to Jeffery Epstein, several months after his suicide in prison, following his arrest for sex trafficking charges. The FBI says it will be investigating British socialite and ex-girlfriend of Epstein's, Ghislaine Maxwell, among others, as "people who facilitated" Epstein's alleged crimes. (Reuters)
3. How Tesla stock just notched a new high. 
4. Behind FLXN stock's big breakout on the charts. 
5. The analyst bull note that helped IMMU stock climb higher today. 

There are no earnings of note today.

Gold Snaps Up Three-Month High

Data from Baker Hughes showing a drop in U.S. oil rigs last week kept the commodity afloat today. February-dated crude futures added 4 cents to end at $61.72 per barrel, with a 2.1% gain for the week. 

Gold soared toward a three-month high, as the U.S. dollar cooled. February gold futures settled up $3.70, or 0.2%, to end at $1,518.10 an ounce, with a 2.5% pop for the week, it's biggest since August.

After a Christmas week full of records on Wall Street, Dow Jones Industrial Average (DJI) futures are much quieter this morning, holding modestly above fair value. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are signaling slightly lower opens, with volume likely to be low heading into the New Year's holiday. As far as economic data, the U.S. trade deficit in goods fell 5.4% to $63.2 billion in November.

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

• Breaking down Tesla's big week. 
• An FDA nod sent this drug stock soaring. 
• Plus, Tesla rival scores quarterly win; Goodyear nabs a "buy" rating; and AstraZeneca gets an FDA nod.  

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 1.16 million call contracts traded on Friday, compared to 698,615 put contracts. The single-session equity put/call ratio rose to 0.60, while the 21-day moving average stayed at 0.57.
2. Nio Inc (NYSE:NIO) stock is up 18% ahead of the bell, after the Tesla rival reported a third-quarter loss that was slimmer than expected. Revenue topped forecasts and deliveries increased, as well. NIO is set to open above its 160-day moving average, but was still down 62% year-to-date heading into today.  
3. Goodyear Tire & Rubber Co (NASDAQ:GT) stock is up 2.8% in electronic trading, after Nomura Instinet initiated coverage with a "buy" rating and $20 price target, forecasting a strong earnings recovery next year. GT stock closed Friday at $15.10, after falling below $11 back in early September.
4. The shares of AstraZeneca plc (NYSE:AZN) are up 0.7% before the open, after the U.S. Food and Drug Administration (FDA) approved Lynparza -- an ovarian cancer treatment the company develops with Merck (MRK) -- to treat pancreatic cancer. AZN is set to open a chip-shot under its Dec. 20 record high of $51.23, and is up 33% in 2019.

5. Pending home sales and the Chicago purchasing managers index (PMI) will be released. For earnings, there are no other names on the docket. 

Asian Markets Mixed; European Investors Take Profits

It was a mixed session for equities in Asia. China’s Shanghai Composite had a solid day, grabbing a 1.2% win, with brokerage stocks seeing particular strength thanks to new rules around initial public offerings (IPO) in the country. In Hong Kong, the Hang Seng also rose, adding 0.3%. Markets in Japan and South Korea lagged behind, however, with the Nikkei and Kospi falling 0.8% and 0.3%, respectively. 

Stocks in Europe are moving lower at the halfway point, as investors likely take profits off the table after last week’s rally. London’s FTSE 100 was last seen with a 0.4% decline, weighed by losses from drugmakers. France’s CAC 40 is lower, too, down 0.2%, while Germany’s DAX has shed 0.7% so far. 

The Dow Jones Industrial Average (DJI) is sliding today, suffering triple-digit losses so far, as stocks pull back from record-high territory. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also under pressure, though trading volumes are unsurprisingly thin for the holiday week. Oil prices have also turned lower after notching fresh highs earlier, with February crude futures last seen down 0.5% at $61.39 per barrel.

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

• Space technology stock takes flight on M&A buzz.
• Why Nio shares are surging.
• Plus, mining stock hits new high; and 2 drug stocks making huge moves.

One name seeing unusual options volume today is Newmont Goldcorp Corp (NYSE:NEM), as the shares touch fresh highs. Traders are opening new positions at the January 2020 45.50-strike call, seemingly betting on more upside in the coming weeks. NEM stock was last seen up 2.1% at $43.59, and earlier peaked at a three-year high of $43.75.

Sol Gel Technologies Ltd (NASDAQ:SLGL) is one of the best stocks today, up 93% at $17.85, and earlier touching an all-time high of $21. This move comes after the company's acne cream succeeded in two late-stage trials.

One of the worst stocks, meanwhile, is Wave Life Sciences Ltd (NASDAQ:WVE), dropping 49% to trade at $8.12. The company's therapy for Huntington's disease failed an early-stage study, sending the shares to a record low of $7.78 earlier. This is WVE stock's second bear gap this month.

In the wake of the market pullback yesterday, Dow Jones Industrial Average (DJI) futures are drifting below fair value on the last trading day of the year and decade. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) have also slipped into the red, taking a final breather on a banner year of gains across the board. In geopolitical news, after an attack on a U.S. embassy in Iraq, President Donald Trump placed the blame on Iran, tweeting, "They will be held fully responsible." 

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

• 2 risks to bulls heading into 2020, according to Schaeffer's Senior V.P. of Research Todd Salamone.
• This oil stock is signaling more upside.
• Plus, Core Laboratories sinks on trimmed guidance; SINA announces stock buyback program; and Nio set to extend its breakout.  

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 870,951 call contracts traded on Monday, compared to 511,550 put contracts. The single-session equity put/call ratio slipped to 0.59, while the 21-day moving average stayed at 0.57.
2. Core Laboratories N.V. (NASDAQ:CLB) stock is down 21.5% in electronic trading, after the oil company cut its fourth-quarter guidance and quarterly dividend, and gave a weaker-than-anticipated first-quarter forecast. Three brokerages have issued price-target cuts already, including Cowen to $39 from $42. CLB is set to open near its Aug. 15 10-year low of $36.61.
3. SINA Corp (NASDAQ:SINA) stock is up 3.4% ahead of the bell, after the Chinese tech name announced a $500 million share buyback program. SINA is down 30.6% year-to-date, with recent pressure looming at the 80-day moving average.
4. The shares of Nio Inc (NYSE:NIO) seem poised for another big day, up 12.4% before the open, after Piper Jaffray upped its price target to $4.15. The analyst in coverage cited a short squeeze likely assisted in Nio stock's 53.7% gain yesterday, with initial optimism sparked by the Tesla rival's quarterly report. 

5. The S&P CoreLogic/Case Shiller home price index and consumer confidence index will hit. There are no earnings on the docket, and the stock market will be closed tomorrow for New Year's Day. 

Overseas Markets Mixed in End-of-Year Trading

On the whole, trading was mixed in Asia for the last day of the year, though Chinese shares managed to outperform. In fact, the Shanghai Composite moved up 0.3% to notch its highest close since April, following reports the phase one trade deal between the U.S. and China could be signed this week. Still, markets in Hong Kong and Japan failed to rise, with the Hang Seng and Nikkei notching respective losses of 0.5% and 0.8%. South Korea’s Kospi dipped, too, closing down 0.3%. 

With a number of stock markets in the region closed, investors in Europe monitored thin trading to end the year. Amid the light volumes, London’s FTSE 100 shed 0.6% in an abbreviated session, while the CAC 40 was last seen with a 0.07% decline in France. 

Stocks slipped from last week's record highs, with only one more session left in 2019. The blue-chip index clocked a triple-digit loss of 183 points, its biggest decline in almost four weeks, while the S&P and Nasdaq also suffered their biggest one-day drops since Dec. 3. Trading volume remained thin, with some saying today's sell-off was likely a result of the market's overbought condition. 

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

• How options traders are playing these 3 stocks ahead of 2020. 
• The best FAANG stock to target in January.
• Plus, one Tesla rival's major sales beat; MAXR stock hits fresh highs; and the upgrade giving LendingTree a hand. 

The Dow Jones Industrial Average (DJI - 28,462.14) lost 183.1 points, or 0.6%. Apple was the only Dow component to end higher, with a 0.6% gain, while IBM (IMB) fell to the bottom of the bunch, with a 1.8% drop. 

The S&P 500 Index (SPX - 3,221.29) settled 18.7 points, or 0.6%, lower, while the Nasdaq Composite (IXIC - 8,945.99) fell 60.6 points, or 0.7%. 

The Cboe Volatility Index (VIX - 14.82) added 1.4 points, or 10.4%.

5 Items on Our Radar Today

1. As NFL television ratings continue to rise -- up 4% so far this season -- many unnamed league officials say the NFL is considering new multiyear media agreements, and a hike in broadcast fees. Currently, the NFL brings in more than $5 billion annually in broadcast fees. (CNBC)
2. Democratic presidential hopeful and current U.S. Senator Bernie Sanders just received a clean bill of health from his doctor, several months after suffering a heart attack while on the campaign trail. In a statement, his doctor noted that, "Sanders is more than fit enough to pursue vigorous activities and an occupation that requires stamina and an ability to handle a great deal of stress." (Reuters)
3. Behind this Tesla competitor's major sales beat. 
4. How MAXR stock surged to fresh highs today. 
5. The analyst upgrade giving LendingTree stock a hand. 

Data courtesy of Trade-Alert

Gold Notches Fifth Consecutive Win

Oil notched another three-month high in intraday action, before eventually settling below breakeven. February-dated crude futures lost 4 cents to end at $61.68 per barrel. 

Gold eked out a fifth consecutive win today. The streak marks the precious metal's longest in six months. February gold futures settled up 50 cents to end at $1,518.60 an ounce.

Stocks are struggling for upside today amid lackluster trading ahead of the New Year's holiday tomorrow. The Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) were all last seen nursing modest losses, as the former two indexes eye a second straight down day while it would be a third straight loss for the Nasdaq. Traders in the meantime are monitoring the fallout from President Donald Trump's Iran comments, as well as reports that the phase one trade deal with the U.S. and China will be signed this week.

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

• The big-name pharma stock to be wary of.
• Another bull note keeps NVDA rolling into 2020.
• Plus, bulls play weed stock rally; penny stock pops on fresh stake; and drug stock cools after win streak.

One name seeing unusual options volume today is Canopy Growth Corp (NYSE:CGC), as a number of weed stocks make strong moves higher. CGC shares were last seen up 8% at $20.41, putting them on pace to close above the 10-day moving average for the first time since Dec. 17. Traders seem to be betting on more short-term gains for the equity, with new positions opening at the weekly 1/3 20- and 20.50-strike call.

One winner to watch today is resTORbio Inc. (NASDAQ:TORC), as the shares rise 3.7% to $1.39 on news of a stake from Morgan Stanley. The security has given back a portion of its earlier gains, though, and is set to close the year down more than 80%.

One of the worst stocks today is Eyegate Pharmaceuticals Inc (NASDAQ:EYEG), with the shares giving back some of yesterday's monster 31% gain. EYEG stock traded up to $12.89 yesterday for a sixth straight gain, but today the shares are down 18.6% at $9.93, on news of the company's direct offering of $5 million in shares at $10 per share.

U.S. stock futures are pointing to a strong first day of 2020. The Dow Jones Industrial Average (DJI) is set to jump more than 100 points, and the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are on pace to follow suit, as traders monitor strong gains for Chinese equities and weekly jobless claims that came in slightly lower than expected. This comes after upbeat trade buzz helped guide stocks higher ahead of the New Year's holiday.

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

• This Dow stock we're watching this new year.
• How new NDX stocks could perform, according to Schaeffer's Senior Quantitative Analyst Rocky White.
• Plus, Tesla shares upgraded; a penny stock to watch; and Ford rating lowered.  

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 760,187 call contracts traded on Tuesday, compared to 422,179 put contracts. The single-session equity put/call ratio slipped to 0.56, while the 21-day moving average stayed at 0.57.
2. Tesla Inc (NASDAQ:TSLA) is looking to stay hot going into the new year, after Canaccord Genuity raised its price target to $515 from $375. The shares hit an all-time high of $435.31 last week, and Canaccord believes demand for the company's electric vehicles will remain strong. The company also just announced it'll deliver the latest batch of its China-made Model 3s on Jan. 7.
3. One penny stock making moves this morning is Trillium Therapeutics Inc. (NASDAQ:TRIL), up 18.5% before the open on news Morgan Stanley has upped its stake in the immuno-oncology expert. The stock had an impressive December, rising from the $0.30 area to a Dec. 26 high of $1.17.
4. Ford Motor Company (NYSE:F) is on the receiving end of bearish analyst attention to start the year, with Evercore ISI lowering its outlook on the shares to "underperform" from "in-line." The auto stock is currently sitting right below its 200-day moving average.

5. Weekly jobless claims, weekly crude inventories, and the Markit manufacturing PMI will roll in today. There are no earnings on the docket.

Stocks in Asia Have Strong Day

Markets in Asia tacked on mostly big gains today thanks to some encouraging economic data out of China. China's Shanghai Composite added 1.2%, after the Markit/Caixin Purchasing Managers’ Index (PMI) fell to 51.5 in December, by a margin that was below the analyst expectations of 51.8. Meanwhile, the People's Bank of China announced that it would lower the reserve requirement ratio for banks by 50 basis points, effective on Monday. Hong Kong's Hang Seng also added 1.2%, with life insurer AIA leading the charge. Rounding out the region, South Korea's Kospi bucked the regional trends and gave back 1%, after export data fell in December. Japan's Nikkei was closed for the holiday.

Stocks in Europe are higher at midday, taking cues from the U.S.-China phase one trade deal that will reportedly be signed on Jan. 15, according to President Donald Trump’s tweet on Tuesday. London's FTSE 100 is up 0.9%, after U.K.'s manufacturing PMI was revised up to 47.5 for December. The French CAC 40 is pacing the region with 1.3% lead, while the German DAX is 0.9% higher thanks to a big day from bank stocks.