The ​Dow Jones Industrial Average ​​(DJIA) is signaling a positive open to the week after a strong start to the second quarter, with futures perched above fair value amid an uptick in oil prices. At last check, May-dated crude futures have tacked on 0.4% to rest at $36.94 per barrel. While there's little in the way of economic data, another round of Fed speeches could move stocks -- including this morning's address from Boston Fed President Eric Rosengren.

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

• Why this downgrade could be the first of many for Delta Air Lines, Inc. (NYSE:DAL). 
• 2 semiconductor stocks on analysts' radars, and another taking a dive.  
• Why option volume popped on Regeneron Pharmaceuticals Inc (NASDAQ:REGN) and this fellow healthcare stock. 
• Plus... Eurozone unemployment retreats, Virgin finds a buyer, and a potential Yahoo! suitor.

Futures on the Dow Jones Industrial Average (DJIA) are more than 17 points above fair value.

5 Things You Need to Know Today

 

1. European stocks are rallying following an upbeat report on eurozone unemployment.
2. The Chicago Board Options Exchange (CBOE) saw 643,158 call contracts traded on Friday, compared to 404,404 put contracts. The resultant single-session equity put/call ratio fell to 0.63, while the 21-day moving average remained at 0.70.
3. Following weeks of speculation, Alaska Air Group, Inc. (NYSE:ALK) has agreed to buy Virgin America Inc (NASDAQ:VA) for $2.6 billion, or $57 per share, with the merger creating the fifth largest U.S. airline. The news has VA up over 39% pre-market, while ALK is down roughly 6%.
4. Asset management giant Blackstone Group LP (NYSE:BX) has purchased a majority stake Mphasis, an outsourcing services provider based in India, from Hewlett Packard Enterprise Co (NYSE:HPE), in a deal worth up to $1.1 billion.
5. Time Inc (NYSE:TIME) is reportedly considering a private equity partner to bid for Yahoo! Inc.'s (NASDAQ:YHOO) core Internet assets. If TIME decides to make an offer, the media firm will likely face competition.

Earnings and Economic Data

Factory orders are the sole economic report on today's docket, while Boston Fed President Eric Rosengren, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Rob Kaplan are slated to speak. There are no notable earnings reports slated for release. To see what else is coming up on this week's schedule, click here. 

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The Dow Jones Industrial Average (DJIA) started the day in the red following a negative reaction to this morning's jobs report. However, an encouraging reading on ISM manufacturing activity -- which signaled expansion for the first time in seven months -- helped Dow stocks shake off a sharp drop in oil prices and relatively hawkish words from Cleveland Fed President Loretta Mester to start the second quarter off with a bang. Elsewhere, while the energy sector struggled, biotech stocks boomed -- helping the Nasdaq Composite (COMP) to its highest close of the year.

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

• 2 stocks for your put-buying radar.
• Will a change of heart on Wall Street lift this blue chip to higher highs?
• How this trio of stocks could burn short sellers.
• Plus ... auto sales mixed, turbulence hits airline stocks, and put players target a tanking tech stock.
  

The Dow Jones Industrial Average (DJIA - 17,792.75) shot to a 107.7-point, or 0.6%, win -- notching its highest close of the year. Twenty-four of the Dow's 30 components advanced, led by Goldman Sachs Group Inc's (NYSE:GS) 1.8% pop. Of the six blue-chip losers, Chevron Corporation (NYSE:CVX) suffered the most, pulling back 1.2%. On a weekly basis, the Dow gained 1.6%.

The S&P 500 Index (SPX - 2,072.78) picked up 13 points, or 0.6%, bringing its week-over-week lead to 1.8%. The Nasdaq Composite (COMP - 4,914.54) tacked on 44.7 points, or 0.9%, and for the week, was up nearly 3%.

The CBOE Volatility Index (VIX - 13.10) dropped 0.9 point, or 6.1%, for its lowest close since Aug. 17. On the week, the market's "fear gauge" lost 11.1%.

5 Items on Our Radar Today:

1. The Labor Department's nonfarm payrolls report showed the U.S. economy added 215,000 jobs last month, topping estimates. While the unemployment rate inched up to 5%, analysts suggested this was largely due to a sixth straight monthly increase in workforce participation. (The New York Times)

2. March U.S. auto sales were mixed, with Ford Motor Company (NYSE:F) topping expectations but General Motors Company (NYSE:GM) and Fiat Chrysler Automobiles NV (NYSE:FCAU) underperforming. As a whole, however, the industry is still on track to meet the Street's forecast of 17.25 million monthly vehicle sales on an annualized basis. (Reuters, via CNBC)

3. Deutsche Bank weighed heavily on this pair of airline stocks.

4. Put players went wild as Marvell Technology Group Ltd. (NASDAQ:MRVL) plunged.

5. These two gold ETFs went on a roller-coaster ride.

Data courtesy of Trade-Alert

Commodities:

Crude futures ended the week on a negative note, after Saudi Arabia's deputy crown prince said the nation won't freeze production unless Iran and other major producers agree to the program. A rebound in the dollar also pressured the commodity, with May-dated oil futures ending on a $1.55, or 4%, loss at $36.79 per barrel. For the week, crude slid 6.8%.

Gold tumbled as the nonfarm payrolls data sparked rate-hike speculation. At day's end, gold for June delivery was down $12.10, or 1%, at $1,223.50 per ounce. Comparing most active contracts, gold gained 0.2% on the week.

The Dow Jones Industrial Average (DJIA) took a brief trek higher this morning, but eventually succumbed to tumbling oil prices. Additionally, relatively hawkish comments from Boston Fed President Eric Rosengren -- which ran counter to last week's speech from Fed Chair Janet Yellen -- and an uninspiring report on factory activity only fanned the bearish flames, offsetting gains by healthcare stocks. At the close, the Dow had pulled back from its year-to-date closing high, while the broader S&P 500 Index (SPX) was pressured by a sell-off in industrial stocks.

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

• Twitter Inc's (NYSE:TWTR) breakout sent options traders into overdrive.
• Bankruptcy buzz had a ripple effect across the solar sector.
• Is Apple Inc. (NASDAQ:AAPL) a "top investment idea"?
• Plus ... more signs of a first-quarter slowdown, a big takeover in the airline industry, and WWE puts skeptics in a stranglehold.
  

The Dow Jones Industrial Average (DJIA - 17,737.00) explored a nearly 96-point range, before settling down 55.8 points, or 0.3%. Nike Inc's (NYSE:NKE) 2.6% drop paced the 18 Dow decliners, while Pfizer Inc.'s (NYSE:PFE) 2.3% jump paced the 11 advancers. Home Depot Inc (NYSE:HD) finished flat.

The S&P 500 Index (SPX - 2,066.13) edged higher at the open, but eventually closed with a 6.7-point, or 0.3%, loss. The Nasdaq Composite (COMP - 4,891.80) fared the worst of its peers, shedding 22.8 points, or 0.5%.

The CBOE Volatility Index (VIX - 14.12) added 1 point, or 7.8%, but ran out of steam near its 10-day moving average.

5 Items on Our Radar Today:

1. According to the Commerce Department, factory orders fell 1.7% in February -- the 14th drop in the past 19 months -- while January's increase was downwardly revised to 1.2% from 1.6%. (Reuters)


2. The Department of Justice (DOJ) has sued ValueAct Capital Management for failing to disclose its stake in Baker Hughes Incorporated (NYSE:BHI), amid BHI's proposed takeover by Halliburton Company (NYSE:HAL). Considering the hedge fund also owns a stake in HAL, this is seen as a violation of pre-merger notification requirements. (Fortune)


3. Alaska Air Group, Inc. (NYSE:ALK) has agreed to buy this sector peer, creating the fifth-largest airline in the U.S.


4. Record attendance for Wrestlemania 32 sent World Wrestling Entertainment, Inc. (NYSE:WWE) popping -- and options volume soaring.


5. 3 biotechs on the move.

Data courtesy of Trade-Alert

Commodities:

Crude futures fell today, amid skepticism that major global oil producers will agree to freeze output at an upcoming April 17 meeting. By the close, crude for May delivery was off $1.09, or 3%, at $35.70 per barrel -- its lowest close since March 3.

Gold edged lower, after Rosengren's statement stoked uncertainty over the Fed's monetary policy timeline. At session's end, gold for June delivery was down $4.20, or 0.3%, at $1,219.30 per ounce.

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​Dow Jones Industrial Average ​​(DJIA) futures are more than 100 points below fair value, amid a slide in stocks globally and weak oil prices. At last check, May-dated crude futures were down 0.7% at $35.46 per barrel after slumping 3% on Monday. Wall Street is also digesting a wider-than-expected international trade deficit, and comments from Chicago Fed President Charles Evans -- who said "financial market expectations are more pessimistic than" the central bank's, and reiterated expectations of two more rate hikes in 2016.

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

• Schaeffer's Senior VP of Research Todd Salamone explains why the SPDR S&P 500 ETF Trust (SPY) could make a run at $210.
• What sent shares of Groupon Inc (NASDAQ:GRPN) to the moon?
• This red-hot steel stock may have bearish traders and analysts on the ropes.
• Plus... IMF warning hits European stocks, Disney's CEO-search setback, and Twitter's big score.

Futures on the Dow Jones Industrial Average (DJIA) are 121 points below fair value.

5 Things You Need to Know Today

 

1. China bucked the Asian stock trend lower, while a warning from International Monetary Fund (IMF) Managing Director Christine Lagarde has European markets reeling.
2. The Chicago Board Options Exchange (CBOE) saw 604,114 call contracts traded on Monday, compared to 392,893 put contracts. The resultant single-session equity put/call ratio rose to 0.65, while the 21-day moving average remained at 0.70.
3. The U.S. Treasury published new rules to curb corporate inversions, putting at risk a merger between Pfizer Inc. (NYSE:PFE) and Allergan plc Ordinary Shares (NYSE:AGN). PFE has risen 2.8% pre-market on the news, while AGN is down more than 19%.
4. Entertainment giant Walt Disney Co (NYSE:DIS) will be forced to expand its search for a new CEO, after Tom Staggs -- the heir apparent to outgoing CEO Bob Iger -- unexpectedly announced he is stepping down from his role as chief operating officer.
5. A recent round of option bulls are happy to see Twitter Inc (NYSE:TWTR) up nearly 2% ahead of the bell, after the social media firm reportedly won the rights to stream Thursday night NFL games online.

Earnings and Economic Data

The economic calendar picks up with the Labor Department's Job Openings and Labor Turnover Survey (JOLTS), and the Institute for Supply Management's (ISM) non-manufacturing index. To see what else is coming up on this week's schedule, click here. 

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The Dow Jones Industrial Average (DJIA) is stuck in the red at midday, despite a rebound in May-dated crude futures, which have muscled 0.5% higher to $35.87 per barrel. At last check, just six of the 30 Dow components were in positive territory, with Walt Disney Co (NYSE:DIS) and Cisco Systems, Inc. (NASDAQ:CSCO) leading the losers. Stocks managed to pare some of their early losses, though, after the Institute for Supply Management's (ISM) non-manufacturing index topped expectations, but the major U.S. markets still seem destined to follow the lead of their global counterparts. 

Continue reading for more on today's market -- and don't miss:

• How Twitter Inc (NYSE:TWTR) outmaneuvered Amazon.com, Inc. (NASDAQ:AMZN) and Yahoo! Inc. (NASDAQ:YHOO). 
• Why Valeant Pharmaceuticals Intl Inc (NYSE:VRX) and this sector peer are exploding. 
• Plus ... Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and stocks on the move at midday.

 

Among the stocks with unusual call volume is Marvell Technology Group Ltd. (NASDAQ:MRVL), with the options trading at 12 times the average intraday pace -- a sudden switch. The August 11 and May 12 calls are most popular, and it looks like traders are buying to open the options -- expecting more upside for MRVL. Today, the semiconductor stock is up 12.1% at $10.78, on news the company's president and CEO are both stepping down, as well as an upgrade to "buy" from "hold" at Brean Capital.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.31 -- in the 94th percentile of its annual range -- as puts more than double calls. SPY is down 1.7 points, or 0.8%, at $204.62. 

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After swimming in red ink yesterday, ​Dow Jones Industrial Average ​​(DJIA) futures are signaling a higher start, ahead of this afternoon's highly anticipated meeting minutes from the Federal Open Market Committee (FOMC). Driving stocks higher pre-market are upbeat data out of China's services sector, and a bounce in oil prices -- with May-dated crude futures currently 2.9% higher at $36.94 per barrel, amid renewed hopes for a global production freeze. A number of Fed officials are also set to speak, including midday remarks from Cleveland Fed President Loretta Mester.

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

• What the biggest quarterly comeback since the Great Depression could mean for stocks, per Schaeffer's Senior Quantitative Analyst Rocky White.
• Short-term traders circled as this embattled retailer rebounded on a favorable court ruling.
• The departure of a husband-and-wife executive team had option bulls striking back on Marvell Technology Group Ltd. (NASDAQ:MRVL)
• Plus... Japan's cold streak, a pharma deal comes undone, and bad news for Nokia workers.

Futures on the Dow Jones Industrial Average (DJIA) are nearly 24 points above fair value.

5 Things You Need to Know Today

 

1. The losing streak for Japanese stocks reached seven days, while European markets are higher on crude oil.
2. The Chicago Board Options Exchange (CBOE) saw 564,527 call contracts traded on Tuesday, compared to 390,906 put contracts. The resultant single-session equity put/call ratio rose to 0.69, while the 21-day moving average remained at 0.70.
3. It's official: Pfizer Inc. (NYSE:PFE) and Allergan plc Ordinary Shares (NYSE:AGN) have announced they are scrapping their planned $160 billion merger after the U.S. Treasury announced rules to prevent corporate "inversions." PFE has gained 1.3% ahead of the bell, while AGN has fallen 1.5%.
4. Nokia Corp (ADR) (NYSE:NOK) announced plans to cut up to 15,000 jobs throughout Europe -- or 14% of its global workforce -- after completing its acquisition of Alcatel Lucent SA ADR (NYSE:ALU) later this year.
5. Cree, Inc. (NASDAQ:CREE) is bracing for an 18% drop at the open -- which would be its worst single-day loss in months -- after the lighting firm warned its fiscal third-quarter earnings and revenue will come in below previous guidance.

Earnings and Economic Data

The weekly crude inventories update could create some buzz this morning, while the minutes from the latest FOMC meeting will command full attention in the afternoon. Apollo Education Group (APOL), Bed Bath & Beyond (BBBY), Monsanto (MON), and Ollie's Bargain Outlet (OLLI) will unveil their earnings reports. To see what else is coming up on this week's schedule, click here. 

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Dow Jones Industrial Average ​​(DJIA) futures are trading above fair value this morning, ahead of the Federal Open Market Committee's (FOMC) two-day policy meeting. The central bank will release a decision on monetary policy tomorrow at 2:00 p.m. ET -- though the Fed is widely expected to keep rates unchanged. As for this morning's economic data, durable goods orders rose by less than expected in March.

It's also a huge day for earnings. Dow stocks DuPont (NYSE:DD), Procter & Gamble Co (NYSE:PG), and 3M Co (NYSE:MMM) all reported better-than-expected per-share earnings this morning, while a number of other high-profile stocks -- including Apple Inc. (NASDAQ:AAPL) -- are set to report later in the day. 

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

• 5 charts to have on the radar this week, courtesy of Schaeffer's Senior Equity Analyst Joe Bell, CMT. 
• The six-figure bear bet that hit this suddenly sinking semiconductor stock.  
• How Valeant Pharmaceuticals Intl Inc's (NYSE:VRX) options traders are switching sides. 
• Plus... FDA panel downs Sarepta Therapeutics, a fast-rising telecom stock, and today's huge earnings slate.

Futures on the Dow Jones Industrial Average (DJIA) are almost 46 points above fair value. 

5 Things You Need to Know Today

 

1. Overseas stock markets were mixed ahead of Thursday's highly anticipated monetary policy decision from the Bank of Japan (BoJ). 
2. The Chicago Board Options Exchange (CBOE) saw 617,144 call contracts traded on Monday, compared to 433,109 put contracts. The resultant single-session equity put/call ratio jumped to 0.70, while the 21-day moving average edged down to 0.67.
3. After being halted all day Monday ahead of a Food and Drug Administration (FDA) panel meeting, biotech stock Sarepta Therapeutics Inc (NASDAQ:SRPT) has lost roughly half its value in electronic trading, after the panel voted against the company's Duchenne muscular dystrophy treatment, eteplirsen. This comes after an FDA director made comments that seemingly supported SRPT's cause. However, the FDA does not have to adhere to the panel's decision.
4. Telecom stock T-Mobile US Inc (NASDAQ:TMUS) is set to add over 3% when the market opens, after the company posted better-than-expected quarterly results thanks to strong customer growth. The expected move should put TMUS within striking distance of its eight-year high of $43.43 from September, and will likely put short sellers on edge. 
5. Airline stock JetBlue Airways Corporation (NASDAQ:JBLU) is also moving higher ahead of the open, thanks to a first-quarter earnings beat. This potential price action would be to the dismay of options bears, who were anticipating a third straight post-earnings sell-off from the stock. 

Earnings and Economic Data

The S&P/Case-Shiller home price index and the Conference Board's consumer confidence survey are set for release today.
 
Companies reporting earnings include MMM, AAPL, DD, PG, Aflac (AFL), Akamai Technologies (AKAM), AK Steel (AKS), AT&T (T), Barrick Gold (ABX), Bloomin' Brands (BLMN), Boyd Gaming (BYD), Buffalo Wild Wings (BWLD), Capital One Financial (COF), Chipotle Mexican Grill (CMG), Cirrus Logic (CRUS), Coach (COH), Corning (GLW), Cree (CREE), eBay (EBAY), Eli Lilly (LLY), Fiat Chrysler Automobiles (FCAU), Freeport-McMoRan (FCX), JBLU, Lockheed Martin (LMT), Office Depot (ODP), Panera Bread (PNRA), Reynolds American (RAI), Southern (SO), Spirit Airlines (SAVE), Twitter (TWTR), and United States Steel (X). To see what else is coming up on this week's schedule, click here. 

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After starting the day on a positive note and retaking the 18,000 level in early trading, the Dow Jones Industrial Average (DJIA) turned lower, with post-earnings dips from blue-chip stocks 3M Co (NYSE:MMM) and Procter & Gamble Co (NYSE:PG) weighing on the index. An influx of disappointing economic data is also dragging on stocks: durable goods orders rose by less than expected, consumer confidence fell by more than expected, and home-price growth slowed, according to the S&P/Case-Shiller home price index. 

Continue reading for more on today's market -- and don't miss:

• The plunging biotech in single digits for the first time since 2012.
• Why Freeport-McMoRan (NYSE:FCX) bears are cashing in.
• Plus ... Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and stocks on the move at midday.

Among the stocks with unusual options volume at midday is pharmaceutical firm Perrigo Company plc Ordinary Shares (NYSE:PRGO), where contracts are changing hands at four time the typical intraday rate. The stock is up 1.8% at $101.17, shaking off a round of bearish brokerage notes, and PRGO calls are outpacing puts 3-to-1. Specifically, some traders are targeting further gains through the end of the week, buying to open the weekly 4/29 105-strike call.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.40, with puts outpacing calls. SPY was last seen up 0.5 point, or 0.2%, at $209.07.

Find out where the Dow lands right after the closing bell. Sign up now for Schaeffer's Market Recap

Dow Jones Industrial Average ​​(DJIA) futures are trading below fair value, as a disappointing earnings report from Dow component Apple Inc. (NASDAQ:AAPL) is set to weigh on stocks -- and send AAPL south of a key level. Fellow blue-chip stock Boeing Co (NYSE:BA) is also signaling a post-earnings drop. These downbeat earnings reactions are overshadowing today's pending Federal Open Market Committee (FOMC) policy decision, set for release at 2:00 p.m. ET, not to mention surging oil prices. At last check, June-dated crude oil futures were up 2% at $44.91 per barrel. 

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

• Schaeffer's Senior Quantitative Analyst Rocky White presents 2 signs stocks could get hotter this summer. 
• A look at how volume skyrocketed during this China-based stock's sell-off. 
• Is there a bullish case to be made for Gap Inc (NYSE:GPS)?
• Plus... inside Apple's disappointing quarter, another Twitter fail, and Comcast's alleged takeover target. 

Futures on the Dow Jones Industrial Average (DJIA) are 27.3 points below fair value. 

5 Things You Need to Know Today

 

1. Apple suppliers weighed on Asian bourses, while rising oil prices and well-received earnings are lifting stocks in Europe. 
2. The Chicago Board Options Exchange (CBOE) saw 872,326 call contracts traded on Tuesday, compared to 458,647 put contracts. The resultant single-session equity put/call ratio plummetted to 0.53, while the 21-day moving average edged down to 0.66.
3. AAPL last night announced a drop in iPhone sales for the first time ever, on top of its first decline in revenue in over a decade. The stock is now set to fall almost 8% at the open, easily putting it back below the century mark. While traders seem focused on these negative developments, Apple's iPhone sales actually topped estimates, while an upcoming report is expected to reveal that the tech company increased its market share for high-end smartphones ​in mainland China. 
4. Elsewhere on the earnings front, social media stock Twitter Inc (NYSE:TWTR) has dropped close to 15% in electronic trading, after the company revealed lackluster quarterly results and a disappointing current-quarter revenue forecast. This upcoming post-earnings sell-off could be exacerbated by an unwinding of optimism on Wall Street. 
5. After initiating a relationship with Groupon Inc (NASDAQ:GRPN) earlier this month, Comcast Corporation (NASDAQ:CMCSA) now reportedly has its eye on Dreamworks Animation Skg Inc (NASDAQ:DWA). The Wall Street Journal reported that CMCSA offered to buy the animation studio for more than $3 billion. Meanwhile, CMCSA is up 1.6% in pre-market trading following a first-quarter earnings beat. 

Earnings and Economic Data

Today, the international trade balance, the pending home sales index, and the regularly scheduled crude inventories report will be released. 

Turning to corporate earnings, the Street expects to hear from Anthem (ANTM), Boston Scientific (BSX), CMCSA, Dr. Pepper Snapple (DPS), Facebook (FB), First Solar (FSLR), Garmin (GRMN), Hilton Worldwide (HLT), Marriott International (MAR), Mondelez (MDLZ), Northrop Grumman (NOC), O'Reilly Automotive (ORLY), Owens Corning (OC), PayPal (PYPL), Texas Instruments (TXN), and Xilinx (XLNX). To see what else is coming up on this week's schedule, click here. 

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The Dow Jones Industrial Average (DJIA) spent the whole day in the red, pressured by an analyst-induced sell-off for networking stock Cisco Systems, Inc. (NASDAQ:CSCO). Additionally, stocks reacted to disappointing manufacturing data from overseas -- which overshadowed a strong reading on the service sector on the homefront -- as well as a new regulatory hurdle to corporate tax loopholes. By the close, the Dow was off more than 100 points, while the CBOE Volatility Index (VIX) had surged more than 9%.

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

• Tesla Motors Inc (NASDAQ:TSLA) rumors and buyout buzz sent these 2 solar stocks soaring.
• Executive shake-ups weighed on Walt Disney Co (NYSE:DIS) and Alibaba Group Holding Ltd (NYSE:BABA), but had Marvell Technology Group Ltd. (NASDAQ:MRVL) popping.
• The Pfizer Inc. (NYSE:PFE) feeding frenzy was highlighted by this $6 million volatility bet.
• Plus ... Obama chimes in on corporate tax inversions, PayPal deals North Carolina a blow, and Ford's blatant disregard for Donald Trump.
  

The Dow Jones Industrial Average (DJIA - 17,603.32) was off 157 points at its session low, before settling down 133.7 points, or 0.8%. Twenty-seven of the Dow's 30 components closed lower, paced by CSCO's 2% decline. PFE's 2.1% gain led the three advancers.

The S&P 500 Index (SPX - 2,045.17) gave back 21 points, or 1%, to close south of its 10-day moving average for the first time since Feb. 12. The Nasdaq Composite (COMP - 4,843.93), meanwhile, surrendered 47.9 points, or 1%.

The CBOE Volatility Index (VIX - 15.42) tacked on 1.3 points, or 9.2%, to notch its first settlement north of its 20-day moving average since Feb. 16.

5 Items on Our Radar Today:

1. President Barack Obama held a press conference earlier to follow up on the action taken by the U.S. Treasury Department on Monday to curb corporate tax inversions. Specifically, Obama urged Congress to close tax loopholes -- which he called "insidious -- that encourage the practice. (ABC News)
2. Paypal Holdings Inc (NASDAQ:PYPL) has withdrawn plans to build a $3.6 million operations center in Charlotte, North Carolina, due to the state's  controversial new bathroom law, which is widely viewed as being anti-gay. In a statement, PYPL President and CEO Dan Schulman said, "This decision reflects PayPal’s deepest values and our strong belief that every person has the right to be treated equally, and with dignity and respect." (USA Today)
3. Despite much-hyped disapproval from Republican presidential candidate Donald Trump, Ford Motor Company (NYSE:F) unveiled the location for its new factory. Trump, in turn, called the move "an absolute disgrace."
4. Wall Street continued to weigh in on struggling PulteGroup, Inc. (NYSE:PHM).
5. Is it time to shop for Abercrombie & Fitch Co. (NYSE:ANF) options?

Data courtesy of Trade-Alert

Commodities:

It was a push-and-pull session for crude futures. By the close, though, May-dated crude futures were up 19 cents, or 0.5%, at $35.89 per barrel, on reports Kuwait said major oil producers will agree to freeze output, with or without Iran.

Gold benefited from its safe-have status today, as well as a weakening dollar. At session's end, gold for June delivery was up $10.30, or 0.8%, at $1,229.60 per ounce.

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The Dow Jones Industrial Average (DJIA) headed south out of the gate and never looked back, as traders tread lightly ahead of tomorrow's Federal Open Market Committee (FOMC) policy meeting -- not to mention, Apple Inc. (NASDAQ:AAPL) earnings. Caterpillar Inc. (NYSE:CAT) was the biggest drag on the Dow, while another drop in new home sales and a rough day for crude oil futures also weighed on stocks. On the flip side, consumer staples and telecom stocks outperformed.
​

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

• How a Twitter Inc (NYSE:TWTR) earnings miss could spell disaster for one group.
• Why did one trader shell out $500,000 buying Mobileye NV (NYSE:MBLY) puts?
• What crushed GoPro Inc (NASDAQ:GPRO)?
• Plus ... Saudi Arabia to diversify economy, China takes aim at Tesla, and the biotech making strides against Alzheimer's. 
  

The Dow Jones Industrial Average (DJIA - 17,977.24) spent the entire day in red ink, and finished on a loss of 26.5 points, or 0.2% -- slipping south of the key 18,000 millennium level. Ten of the Dow's 30 components advanced, led by a 1.6% pop at McDonald's Corporation (NYSE:MCD). Nineteen blue chips fell, with CAT the worst performer -- down nearly 2%. DuPont (NYSE:DD) was unchanged.

The S&P 500 Index (SPX - 2,087.79) gave back 3.8 points, or 0.2%. Similarly, the Nasdaq Composite (COMP - 4,895.79) surrendered 10.4 points, or 0.2%. 

The CBOE Volatility Index (VIX - 14.08) gained 0.9 point, or 6.5%, toppling 14 for the first time since April 12. 

5 Items on Our Radar Today:

1. Deputy Crown Price of Saudi Arabia Mohammed bin Salman announced plans to revamp the country's economy and reduce its dependence on oil. (Bloomberg)

2. This Chinese entrepreneur is ready to give Tesla Motors Inc (NASDAQ:TSLA) a run for its money. (Reuters) 

3. Tribune Publishing Co (NYSE:TPUB) shares soared after a buyout offer from media giant Gannett Co Inc (NYSE:GCI).

4. The end of Alzheimer's? Anavex Life Sciences Corp. (NASDAQ:AVXL) touted an impressive claim for a new drug.

5. Bearish buyers bet against Apple Inc. (NASDAQ:AAPL) ahead of earnings.

Data courtesy of Trade-Alert

Commodities:

Crude futures got punished today, after a number of financial firms said the commodity's rally is not supported by fundamentals. Also stoking the bearish flames was a reported week-over-week build in stockpiles at a Cushing, Oklahoma, delivery hub. By session's end, June-dated oil was down $1.09, or 2.5%, at $42.64 per barrel.

Gold picked up steam as the dollar retreated, though upward momentum was limited by the looming Fed policy decision -- as the malleable metal is highly sensitive to rate hikes. At the close, gold for June delivery was up $10.20, or 0.8%, to settle at $1,240.20 per ounce.

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The Dow Jones Industrial Average (DJIA) was down more than 70 points at its session low, as Apple Inc.'s (NASDAQ:AAPL) post-earnings loss weighed on blue-chip stocks. However, while the tech-rich Nasdaq Composite (COMP) is still reeling after a round of disappointing earnings, the Dow has clawed its way higher - and back above 18,000 -- at midday, led by Boeing Co (NYSE:BA).

Oil prices have pulled back from a year-to-date high, after the Energy Information Administration (EIA) said U.S. oil stockpiles rose by a bigger-than-expected 2 million barrels last week. Still, June-dated crude was last spotted 0.5% higher at $44.26 per barrel. Traders continue to look ahead to this afternoon's statement from the Federal Open Market Committee (FOMC) meeting, which could shed light on the Fed's plan for interest rates through the rest of the year. 

Continue reading for more on today's market -- and don't miss:

• 3 iPhone suppliers on the move.
• Are options traders expecting Facebook Inc (NASDAQ:FB) to suffer the same post-earnings fate as Twitter Inc (NYSE:TWTR)?
• Plus ... Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and stocks on the move at midday.

Yahoo! Inc. (NASDAQ:YHOO) is among the stocks with unusual options volume at midday, with calls changing hands at twice their usual intraday rate, after the firm agreed to add four Starboard nominees to its board. In fact, call volume is on pace to end in the 98th percentile of its annual range, and the intraday put/call volume ratio of 0.17 is lower than 99% of the past year's readings. A significant portion of today's action stems from YHOO's June 43 call, which has seen nearly 22,000 contracts traded, including a block of 15,000, which may have been bought to open, according to Trade-Alert. In other words, the trader is anticipating a rally above $43 by the back-month option's expiration on Friday, June 17. YHOO was last seen 1% lower at $36.72.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.22, with puts outnumbering calls. SPY was last seen down 0.3 point, or 0.2%, at $208.68.

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