With the "phase one" trade deal details now out in the open, Dow Jones Industrial Average (DJI) futures are signaling a strong start the last full trading week of 2019. Over the weekend, U.S. Trade Representative Robert Lighthizer said in an interview that the deal with China was "totally done," and is expected to be signed in January. Dow futures would be higher, were it not for a big drop from blue chip Boeing (BA), after the Wall Street Journal reported the aerospace company was considering scaling back or ending production of its grounded 737 Max aircraft. 

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

• Options bears piled on this drug stock rally.
• Behind Broadcom's post-earnings flop.
• Plus, Horizon Therapeutics gets great news; Urban Outfitters downgraded; and more trouble for PG&E.  

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 1.2 million call contracts traded on Friday, compared to 679,551 put contracts. The single-session equity put/call ratio rose to 0.55, while the 21-day moving average stayed at 0.59.
2. Horizon Therapeutics PLC (NASDAQ:HZNP) stock is up 8.3% in electronic trading, after an independent advisory committee for the Food and Drug Administration (FDA) voted to approve the company's treatment for thyroid eye disease drug. The FDA's official decision is expected to come in March. Four analysts have hiked their price targets in response, and HZNP is set to open at its highest point in four years.
3. Urban Outfitters, Inc. (NASDAQ:URBN) stock is down 1.2% ahead of the bell, after Loop Capital cut its rating to "hold" from "buy" on intensifying promotional competition. URBN is down 20%  year-to-date, and last month gapped lower in the wake of a subpar quarterly report.  
4. The shares of PG&E Corporation (NYSE:PCG) are down 25.8% before the bell, after California Governor Gavin Newsom rejected the utility company's bankruptcy reorganization plan. PCG was up 50% in December going into today.

5. The IHS Markit flash composite purchasing managers index (PMI) will debut today, alongside the National Association of Home Builders (NAHB) housing market index and Empire State manufacturing index. The earnings slate is bare.

Upbeat Economic Data out of China; London's FTSE 100 Roars

There was mixed trading in Asia overnight, as investors monitored the trade agreement between the U.S. and China, along with data out of the latter country. Specifically, China’s industrial output and retail sales were better than expected for November, helping the Shanghai Composite rise 0.6% to its highest close since early November. However, it was the lone index to grab a win in the region, with the Hang Seng dropping 0.7%, the Nikkei falling 0.3%, and the Kospi closing down 0.1%. 

Stocks in Europe, meanwhile, are shooting higher again, led by another big day from FTSE 100, following last week’s election in the U.K. The London-based index has jumped 2.3% higher so far, trading at its highest point since early August. France’s CAC 40 is following close behind with a 1.1% rise, and Germany’s DAX is up 0.7%. 

U.S. stocks are rallying to all-time highs today, as investors continue to buy on news of the trade deal with China. The Dow Jones Industrial Average (DJI) is deep into triple-digit territory despite the sharp selling on Boeing (BA), while tech shares are pushing the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) to strong leads as well. Meanwhile, oil prices are also on the rise, with January-dated crude futures gaining 3% to $60.25 per barrel.

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

• Double upgrade keeps tobacco stock hot.
• FDA decision sparks AMRN call trading.
• Plus, UBER bulls bite on India buzz; construction stock surges higher; and retailer keeps sliding on holiday fears.

One name seeing unusual options trading is Uber Technologies Inc (NYSE:UBER). Short-term call traders are targeting the ride-hailing specialist, with new positions opening at the December 30.50 call, which expires on Friday. Roughly 12,500 of these contracts have traded today, compared to fewer than 5,000 at the next-most-popular strike. UBER stock is spiking today on reports the company could sell its UberEats India business.

One of the best stocks today is Granite Construction Inc. (NYSE:GVA). Last Thursday the company announced that it won a $16 million project in Illinois, and on Friday there was news the stock was switching places in the S&P 400 MidCap Index (MID) with Arrowhead Pharmaceuticals (ARWR). Regardless, the shares are up 8.6% today at $28.47, on pace for the best close since October.

One of the worst stocks today is Canada Goose Inc (NYSE:GOOS), extending Friday's selling due to talk of a heavily discounted holiday season from the retailer. This comes after the company lowered its sales outlook just a month ago. GOOS shares were last seen 3% lower at $37.71.

The Dow added over 100 points today, clocking a four-day win streak as investors excitedly eyed new trade developments following last week's phase one trade deal between the U.S. and China. Strong economic data out of China last night may have also sparked some buying action, especially in the tech sector, and helped the stock market brush off a miserable day of trading for blue chip Boeing (BA). That being said, the Nasdaq also surged, while the S&P followed suit, with all three indexes notching fresh record highs. 

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

• 3 stocks options players are unwrapping around the holidays. 
• What options bulls are expecting for Nike stock ahead of earnings. 
• Plus, Disney+ expands; Amarin gets an FDA okay, and WVE stock hits a two-year low. 

The Dow Jones Industrial Average (DJI - 28,235.89) added 100.5 points, or 0.4%. Of the 30 blue chips, 23 ended higher. UnitedHealth (UNH) was the top performer on a 2.3% pop, while Boeing (BA) fell to the bottom, sinking 4.3%. Coca-Cola (KO) remained unchanged.

The S&P 500 Index (SPX - 3,191.45) settled 22.7 point, or 0.7% higher, while the Nasdaq Composite (IXIC - 8,814.23) tacked on 79.4 points, or 0.9%.

The Cboe Volatility Index (VIX - 12.14) slipped 0.5 point, or 3.9%.

5 Items on Our Radar Today

1. Meat processor Tyson Foods (TSN) was just approved to sell its American poultry products to China for the first time since 2015, when these products were banned after an avian flu outbreak. The sales, which closely follow the phase one agreement signed by the U.S. and China, will begin early next year. (CNBC)
2. The production and exportation of cannabis in Zambia was just made legal, in an effort to boost the southern African country's economy. This approval was won on Dec. 4, according to a government spokesperson, though it is not clear if medical marijuana usage in Zambia itself has been legalized. (Reuters)
3. Disney will test its buzzy new streaming service abroad. 
4. Options bulls are bombarding this drug stock after a big FDA ruling. 
5. The pharma stock that more than halved today. 

There are no earnings of note today.

Oil Climbs, Despite EIA Forecast 

Oil clung to modest gains today, despite the Energy Information Administration's (EIA) prediction that U.S. production on the commodity will rise by 30,000 barrels a day in January. January-dated crude futures added 14 cents, or 0.2%, to settle at $60.21 per barrel. 

With stocks trading at new highs, investors turned their attention away from gold, causing the precious metal to settle slightly lower. February gold futures lost 70 cents to end at $1,480.50 an ounce.

Markets kicked off the week with record highs yesterday, but Dow Jones Industrial Average (DJI) futures are signaling a slightly lower open today. After a 4.3% drop on Monday, Boeing (BA) once more is the culprit, with the shares under pressure after the aerospace giant officially announced it's suspending production of the 737 Max jet, beginning in January. On the other hand, S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are cautiously higher. Elsewhere, U.S. housing starts rose 3.2% in November, more than anticipated. 

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

• Schaeffer's Senior V.P. of Research Todd Salamone explains the best way to manage risk right now.
• This tech stock has room to run.
• Plus, Roku's CFO stepping down; red-hot Micron upgraded; and Royal Bank of Scotland under pressure from stress tests.  

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 1.36 million call contracts traded on Monday, compared to 829,400 put contracts. The single-session equity put/call ratio rose to 0.61, while the 21-day moving average stayed at 0.59.
2. Roku Inc (NASDAQ:ROKU) stock is down 3.4% ahead of the bell, after the company's chief financial officer (CFO), Steve Louden, reported he will step down once a successor is found. The streaming stock is set to breach support at its 120-day moving average, should today's price action pan out. 
3. Micron Technology, Inc. (NASDAQ:MU) is up 1.3% in electronic trading, after Wedbush upgraded the chip stock to "outperform" from "neutral," while hiking its price target to $65 from $44. The analyst in coverage cited an improving pricing environment for memory chips. MU is currently riding a five-day winning streak ahead of tomorrow night's earnings report, and hit an annual high of $54.30 yesterday. 
4. The shares of Royal Bank of Scotland Group PLC (NYSE:RBS) are down 5.3% before the open, under pressure after the Bank of England stress tests. There are concerns that share buyback plans are in danger amid capital increases in 2020. The bank stock gapped higher last week in the wake of the U.K. election, and was up 35% in the last three months heading into today. 

5. Today will feature JOLTS on the economic front. Meanwhile, earnings will be heard from FedEx (FDX_, Navistar (NAV), and Steelcase (SCS).

Trade Tailwinds Boost Asian Stocks; Europe Weighed by Brexit Drama

It was another strong showing for stocks in Asia, as trade-deal tailwinds kept the major indexes moving higher. In China, the Shanghai Composite rallied to its highest close in three months, adding 1.3% on the day. The Hang Seng in Hong Kong followed suit with a 1.2% rise, while the Nikkei in Japan grabbed a 0.5% win. In South Korea, the Kospi closed up 1.3%. 

In Europe, stocks are struggling for upside due to fresh worries about a no-deal Brexit. London's FTSE 100 was last seen down 0.1% on the day, while the French CAC 40 and German DAX are down 0.3% and 0.8%, respectively. Among individual names to watch in the region, bank shares are in focus after Monday night’s stress tests from the Bank of England, with Lloyds Banking Group coming in as one name selling off sharply. Britain’s Unilever stock is also grabbing headlines due to its weakness, stemming from the consumer goods giant’s disappointing sales outlook. 

U.S. stocks are trading mixed so far today. The Dow Jones Industrial Average (DJI) has managed to overcome more selling on Boeing (BA) on the latest 737 MAX news to sport a modest lead, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are holding near breakeven as tech and healthcare shares slump -- though the S&P did manage a fresh record high already as a number of retail stocks move higher. Outside of that, oil prices are holding above the closely watched $60 level, with January crude futures up 1.3% at $60.99 per barrel.

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

• Call buying has surged on this big bank stock.
• Analyst upgrades Micron ahead of earnings.
• Plus, Boeing supplier slides; steel stock jumps post-earnings; and automaker gets wrecked after earnings. 

One name seeing unusual options trading is United Technologies Corporation (NYSE:UTX). The aerospace parts supplier is down 0.6% today to $148.53 on Boeing headwinds, but it's call volume that's rocking, running in the 99th annual percentile. Traders are opening new positions at the weekly 12/27 149- and 150-strike calls, and those buying the contracts would be betting on a rebound above the $149 and $150 levels before expiration next Friday, Dec. 27.

One of the best stocks today is Worthington Industries (NYSE:WOR), as shares of the Ohio-based steel company gain 9.3% to trade at $43.67 after a top- and bottom-line beat for the fiscal second quarter. WOR stock hit a 52-week high of $44.58 earlier, while blowing past long-term resistance in the $41 area.

One of the worst stocks today is Navistar International Corp (NYSE:NAV), as the truck maker's shares dip 7.6% to $29.90, while making a sharp move below recent support at the 200-day moving average. The company reported weak fourth-quarter sales, and its full-year outlook was disappointing.

A day after the S&P 500 Index (SPX) hit fresh record highs, stocks look set for a slow start this morning. Dow Jones Industrial Average (DJI) futures are flat ahead of the opening bell, as China trade deal tailwinds from last week could be starting to wear off, while weak overseas trading and disappointing FedEx (FDX) earnings could also limit upside. Meanwhile, Wall Street is also eyeing the impeachment proceedings against President Donald Trump, as House Democrats are expected to vote in favor of two articles of impeachment today.

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

• Schaeffer's Senior Quantitative Analyst Rocky White looks at the best stocks for contrarian traders.
• These two stocks saw unusual options activity yesterday. 
• Plus, FedEx dinged after earnings; insider trading drama at Palo Alto Networks; and Skechers gets a new "buy" rating.  

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 1.04 million call contracts traded on Tuesday, compared to 552,848 put contracts. The single-session equity put/call ratio fell to 0.53, while the 21-day moving average stayed at 0.59.
2. FedEx Corporation (NYSE:FDX) stock is down 7.6% in electronic trading, after the logistics icon reported fiscal second-quarter earnings and revenue that fell short of expectations. The company also trimmed its 2020 forecast due to its severed relationship with Amazon.com (AMZN). So far, five brokerages have issued price-target cuts, the lowest coming from J.P. Morgan Securities to $147. 
3. Palo Alto Networks Inc (NYSE:PANW) is only down 0.3% ahead of the bell, but in focus after a former I.T. administrator was charged with insider trading. The cybersecurity stock is up 22.4% year-to-date, but has faced pressure from its 40-day moving average since a post-earnings bear gap. 
4. The shares of Skechers USA Inc (NYSE:SKX) are higher before the open, after Deutsche Bank initiated coverage on the shoemaker with a "buy" rating and $49 price target. The analyst in coverage believes SKX's coverage of the global market is underrated. Skechers stock nabbed an annual high of $42.22 on Dec. 13, and is up 80% in 2019. 

5. Weekly crude inventories are due. On the earnings slate are General Mills (GIS), Herman Miller (MLHR), Micron Technology (MU), and Paychex (PAYX).

No-Deal Brexit Worries Weigh on Overseas Markets

Stocks in Asia settled mostly lower today, as data revealed a sharp fall in Japanese exports and rumors of a no-deal Brexit began to resurge over in Europe. The Hang Seng in Hong Kong added 0.2%, the Shanghai Composite shed 0.2%, the South Korean Kospi lost 0.04%, and the Nikkei in Japan shaved off 0.6%.

U.K. Prime Minister Boris Johnson’s threat to cut off trade talks by December 2020, alongside the aforementioned no-deal Brexit talks, has European markets mixed at midday. In response, the FTSE 100 in London is 0.1% higher, while the French CAC 40 is just above breakeven. Meanwhile, the Frankfurt DAX in Germany is down 0.2%, despite a sunny ifo business climate survey.

U.S. stocks are basically flat today, though the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) managed to tag record highs in early trading. The Dow Jones Industrial Average (DJI), meanwhile, is holding just below its own all-time peak, as traders consider poor corporate earnings and impeachment headlines from Capitol Hill ahead of tonight's House vote. Even so, the major indexes are still in good shape to extend their daily win streaks to six.

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

• Why this apparel stock is gaining.
• Extreme options data surrounds Twitter.
• Plus, RV stock sees heavy trading; Tesla hits new highs; and M&A buzz sparks a rally for Voya.

One name seeing unusual options trading is Camping World Holdings Inc (NYSE:CWH), as traders seemingly buy to open the December 15 call, by far the most popular contract today. More than, 10,500 of these options have changed hands so far, compared to just 2,300 at the next most popular. Those buying the calls are expecting CWH shares to move above $15 in the next two days, with the contracts set to expire at the close this Friday. After spiking to the highest point since May earlier, the stock was last seen slightly lower at $13.90.

One of the best stocks today is Tesla Inc (NASDAQ:TSLA), with the shares up 2.2% at $387.14, and earlier hitting a two-year high of $388.15. This is just more of the same for the electric automaker, which has watched its stock gain almost 71% in the past six months.

Another winner today is Voya Financial Inc (NYSE:VOYA). The financial stock earlier hit an all-time high of $63.37, adding 7.5% at last check to trade at $62.96. This price action comes after the company agreed to sell some of its businesses to Resolution Life for around $1.25 billion.

Stocks spent most of the day floating around breakeven, as investors examined weak earnings from FedEx (FDX) and the latest headlines surrounding today's impeachment hearings. Investors still seem to be buzzing from last week's trade negotiations, though, since the S&P and Nasdaq both hit record highs fairly early on. While the Dow and S&P slipped into the red at the close, the Nasdaq managed a sixth straight gain, marking its longest winning streak since July. 

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

• Why Deutsche Bank thinks this FAANG stock could soar.
• A double dose of bull notes had this shoe stock running toward new highs. 
• Plus, 2 stocks options traders are swarming; one retail stock B. Riley is bullish on; and the bear note TWTR stock managed to brush off. 

The Dow Jones Industrial Average (DJI - 28,239.28) lost 27.9 points, or 0.1%. Ten of the 30 index members ended higher, with Boeing (BA) floating to the top on a 1.1% pop, and Walmart (WMT) dropping to the bottom with a 1.2% loss.

The S&P 500 Index (SPX - 3,191.14) settled 1.4 points, or 0.04%, lower, while the Nasdaq Composite (IXIC - 8,827.74) tacked on 4.4 points, or 0.05%.

The Cboe Volatility Index (VIX - 12.58) added 0.3 point, or 2.4%.

5 Items on Our Radar Today

1. The anticipated "Star Wars: The Rise of Skywalker," which is set to hit theaters Friday, was panned by critics prior to its release. Several critics felt the movie spent too much time tying up loose ends of the nine-part saga, but praised the film's score and acting performances. On Rotten Tomatoes, "The Rise of Skywalker" currently has a 57% "Rotten" rating. (CNBC)
2. It just came out in an unpublished notice from the Food and Drug Administration (FDA) that a law allowing Canada to import some prescription drugs to the U.S. has been proposed. The proposal comes as a solution to the increasing drug shortage in the U.S., and as a way to provide cheaper medication. (MarketWatch)
3. Options players went wild for these 2 stocks today. 
4. The online retailer B. Riley thinks is "well positioned." 
5. How Twitter stock brushed off Citigroup's scathing bear note. 

Oil Slips After Inventories Data

Oil was flat for most of the day after data showed U.S. crude inventories declined by 1.1 million barrels -- a smaller drop than the 1.3 million barrels expected by analysts. January-dated crude futures gave back a penny to settle at $60.93 per barrel. 

Gold ended lower today, as the dollar strengthened. February gold futures lost $1.90, or 0.1%, to end at $1,478.70 an ounce.

Dow Jones Industrial Average (DJI) futures are modestly higher this morning, as investors brush off the political drama in Washington D.C. Last night, the House of Representatives voted to impeach President Donald Trump on two counts: abuse of power and obstruction of Congress. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are showing a flat open, as well, as investors also unpack a smaller-than-expected drop in weekly jobless claims and a big earnings beat from semiconductor concern Micron Technology (MU).

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

• Breaking down FedEx's bad day.
• Options traders zeroed in on CREE and SDC yesterday.
• Plus, Olive Garden parent sinks after revenue miss; Seattle Genetics gets FDA nod; and Micron soars post-earnings.  

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 1.12 million call contracts traded on Wednesday, compared to 550,271 put contracts. The single-session equity put/call ratio fell to 0.49, while the 21-day moving average stayed at 0.59.
2. Darden Restaurants, Inc. (NYSE:DRI) stock is down 4.1% ahead of the bell. While the restaurant chain's second-quarter earnings beat expectations, same-store sales came in soft. Going into today, DRI was up 16% on a year-to-date basis, though it recently failed near the 200-day moving average. 
3. Seattle Genetics, Inc. (NASDAQ:SGEN) stock is up 6.4% in electronic trading, after the Food and Drug Administration (FDA) granted breakthrough therapy designation for the drugmaker's experimental treatment for bladder cancer. SGEN is set to open near its Nov. 25 record highs of $122.36, and has more than doubled in the last 12 months.
4. The shares of Micron Technology, Inc. (NASDAQ:MU) are up 3.6% before the open, after the chipmaker's fiscal first-quarter earnings and revenue topped analyst expectations. The company also noted its current quarter represents a bottom for the struggling memory chip market. So far, 11 brokerages have issued price-target hikes to the red-hot chip stock. 

5. The Philadelphia Fed manufacturing index, and existing home sales are due out today. A busier day for earnings includes Nike (NKE), Accenture (ACN), Carnival (CCL), Conagra (CAG), DRI, and Rite Aid (RAD).

Asian Markets Mixed; Europe Eyes Bank of England Decision

Stocks in Asia were mixed on Thursday. Japan’s Nikkei, closed down 0.3%, after the Bank of Japan (BoJ) decided to hold its monetary policy steady, saying the country’s economy is "likely to continue on a moderate expanding trend." The Hang Seng in Hong Kong was also 0.3% lower, while South Korea’s Kospi eked out a 0.08% win as the semiconductor sector surged. Meanwhile, China’s Shanghai Composite finished flat. 

European markets are mostly lower at the halfway mark, with all eyes on the Bank of England’s (BoE) decision to hold its main interest rate steady for the time being. London’s FTSE 100 is inching higher in response, up 0.01%, while the CAC 40 in France is down 0.2%, and the German DAX has shed 0.5%, after several automakers, including BMW, said they would be exiting the North American car sharing market. 

U.S. stocks are continuing their steady grind higher, overcoming impeachment headwinds thanks to a strong day from a number of big-name tech stocks -- including Dow Jones Industrial Average (DJI) component Cisco Systems (CSCO). Like the Dow, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have tagged new highs, with Netflix (NFLX) again standing as a major winner thanks to bullish analyst attention. Oil prices keep going higher, too, with January-dated crude futures last seen up 0.7% at $61.38 per barrel.

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

• Education stock lands top pick honors.
• Why an analyst thinks JNJ stock is at a discount.
• Plus, Twitter stock rejected; Match's break-up going fine; and Carvana keeps driving higher.

One name seeing unusual options trading is Twitter Inc (NYSE:TWTR), as the social media stock keeps its hot week going. The shares rose 3.2% in yesterday's trading, and today they're edging higher again, last seen at $31.75 -- though the 50-day moving average is still applying pressure overhead. Calls are trading at three times the expected pace, and the weekly 12/27 32-strike call could be seeing buy-to-open activity, suggesting traders could be betting on more upside in the coming week.

One of the best stocks today is Match Group Inc (NASDAQ:MTCH), following this morning's M&A news. The shares of the online dating service provider are near session highs, up 7.2% at $76.25, putting their 12-month gain at 87%. Options traders are active too, with call volume at more than eight times the daily average.

Another winner today is Carvana Co (NYSE:CVNA), 5.8% at $98.83 thanks to a price-target hike to $120 from $95 at Citigroup. The car-buying experience specialist has seen its shares rise more than 200% in the past year, today touching a fresh record high of $99.19 earlier today.

The Dow notched a triple-digit gain today, managing even more record highs, as Wall Street mostly looked past impeachment headlines out of Capitol Hill. Meanwhile, the Nasdaq and S&P 500 enjoyed modest upside, grabbing fresh all-time highs along the way, with the former index stretching its daily win streak to seven, its longest since February. The bullish backdrop spread to the commodity space, as well, where oil futures rose to their highest settlement in weeks.

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

• Behind the frantic call activity on Dropbox stock today.
• Why Barclays sees this blue chip rallying into 2020. 
• Plus, MTCH and IAC call it quits; the fertilizer stock that's wilting; and Boeing stock gets a bear note. 

The Dow Jones Industrial Average (DJI - 28,376.96) tacked on 137.7 points, or 0.5%. Twenty-three of the 30 index members ended higher, with Cisco Systems (CSCO) coming in as the top performer on a 2.7% win. Caterpillar (CAT) on the other hand slipped to the bottom of the index on a 1.4% drop. 

The S&P 500 Index (SPX - 3,205.37) settled 14.2 points, or 0.5%, higher, while the Nasdaq Composite (IXIC - 8,887.22) tacked on 59.4 points, or 0.7%.

The Cboe Volatility Index (VIX - 12.50) lost 0.08 point, or 0.6%.

5 Items on Our Radar Today

1. A new spending bill was just approved by the senate in order to avoid a government shutdown, with another in the works, as well, The bills, which will increase domestic and defense spending, do away with a number of Obamacare taxes, and introduce some changes to retirement savings accounts, have been approved by the House. (CNBC)
2. Starbucks (SBUX) just settled a multi-year probe by agreeing to pay $176,000 to the New York City employees affected by its illegal rule requiring workers to find a replacement when they were on sick leave. The coffee company has since changed its sick day policy. (Reuters)
3. How Match and InterActiveCorp's big breakup went down. 
4. The fertilizer stock wilting on production cuts. 
5. The latest drama that put Boeing back in the headlines. 

Oil Hits Three-Month High On Inventories Data 

Oil surged to its highest settlement since mid-September today, on a decline in U.S. crude inventories. January-dated crude futures tacked on 29 cents or 0.5%, to settle at $61.22 per barrel.

Gold prices saw a sharp reversal today, grabbing a two-week, and erasing any losses for the week. February gold futures added $5.70, or 0.4%, to end at $1,484.40 an ounce.

Wall Street has spent most of the week nabbing record highs, and Dow Jones Industrial Average (DJI) futures are trending that way once more this morning. Investors are shaking off a mixed quarterly report from retail giant Nike (NKE) while considering the final third-quarter gross domestic product (GDP) report, which was unrevised, showing 2.1% growth for the period. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also drifting higher ahead of quadruple witching Friday. 

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

• Moody's is the latest to pile on Boeing. 
• Mosaic stock was weighed down by production cuts. 
• Plus, BlackBerry up on earnings beat; Biogen announces buyback; and U.S. Steel falls on dismal forecast.  

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 1.5 million call contracts traded on Thursday, compared to 796,768 put contracts. The single-session equity put/call ratio rose to 0.54, while the 21-day moving average stayed at 0.59.
2. BlackBerry Ltd (NYSE:BB) stock is up 5.2% ahead of the bell, after the tech issue reported third quarter earnings and revenue that topped analyst forecasts. Prior to today, BlackBerry stock has tacked on 20.8% off its Oct. 9 multi-year low of $4.86. Today, the shares are set to test their 100-day moving average. 
3. Biogen Inc (NASDAQ:BIIB) stock is up 1.5% in electronic trading, after the company announced a $5 billion stock buyback program. Jefferies also upped its price target to $325 from $310. BIIB gapped higher in October thanks to upbeat results from its Alzheimer's treatment, and is set to reclaim its year-to-date breakeven level today.
4. The shares of United States Steel Corporation (NYSE:X) are down 5.2% before the open, as the company's fourth-quarter forecast fell short of expectations. The steel name also announced it would be cutting its dividend, terminating stock buybacks, and laying off more than 1,500 workers. X was down 26.7% year-to-date heading into today, with its overhead 200-day moving average serving as a stiff ceiling.

5. Personal income and spending data, and the University of Michigan consumer sentiment reading are scheduled today. CarMax (KMX) will share quarterly results.

Asian Markets Mixed After Lending Data; Europe Rides Trade Buzz

Markets in Asia closed mixed after China said it would be holding its lending benchmark steady, as expected. The Shanghai composite, in response, dropped 4%, while Hong Kong’s Hang Seng added 0.3%, and South Korea’s Kospi tacked on 0.4%. Meanwhile, the Nikkei in Japan lost 0.2%, as auto stocks -- including Toyota and Nissan -- dropped on the back of North America’s new trade deal, the United States-Mexico-Canada Agreement, which will require 75% of car parts to be manufactured in North America. 

Over in Europe, stocks are higher as the major bourses continue to buzz on U.S.-China trade optimism. Germany’s DAX and the French CAC 40 are both 0.6% higher midday, while London’s FTSE 100 is up 0.2%, following a year-over-year surge in gross domestic product (GDP) in the U.K. Also driving the benchmark is the appointment of Financial Conduct Authority (FCA) Chief Executive Andrew Bailey’s appointment as the new governor of the Bank of England (BoE).