It was a big day on Wall Street today, with all three major indexes scoring solid wins. Not only did the Dow Jones Industrial Average (DJIA) climb out of correction territory -- thanks to rallies from a pair of blue-chip heavyweights -- but the Nasdaq Composite (COMP) jumped back above its year-to-date breakeven line. Additionally, the S&P 500 Index (SPX) took a big step in proving that past can be precedent -- and extended its gains to a fifth consecutive session to notch its longest win streak since last December.

With a relatively bare economic and earnings calendar, today's pop came courtesy of a technical boost, as indexes continued to bounce off August lows. However, a handful of market-moving macro events are on this week's docket -- including hints to the Fed's recent interest-rate decision and a fresh batch of quarterly earnings -- so, more volatility is likely ahead.

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

• Schaeffer's contributor Adam Warner explains why the "overbought VIX trade" still works.
• Bulls piled on Bed Bath & Beyond Inc. (NASDAQ:BBBY) amid buyout buzz, while analysts weighed in on Twitter Inc (NYSE:TWTR) following a C-suite decision.
• In case you missed it, founder and CEO Bernie Schaeffer highlights the levels you should be watching to gauge whether a breakout or bear market is in the works.
• Plus ... Growth in the service sector stalls, BP plc (ADR) (NYSE:BP) notches a Justice Department record, and how Deere & Company (NYSE:DE) brushed off a bearish brokerage note.

 

The Dow Jones Industrial Average (DJIA - 16,776.43) was 326 points higher at its session peak -- and settled not too far from there, up 304 points, or 1.9%. Twenty-nine of the Dow's 30 components gained ground, led by 5.3% pops for General Electric Company (NYSE:GE) and Caterpillar Inc. (NYSE:CAT). Nike Inc (NYSE:NKE) was the lone laggard, shedding 0.8%.
 
The S&P 500 Index (SPX - 1,987.05) added 35.7 points, or 1.8%, while the Nasdaq Composite (COMP - 4,781.26) jumped 73.5 points, or 1.6%.

The CBOE Volatility Index (VIX - 19.54) gave back 1.4 points, or 6.7%, to close at its lowest level since Aug. 20.

5 Items on Our Radar Today:

1. The Institute for Supply Management's (ISM) non-manufacturing purchasing managers index fell to 56.9 in September from 59 in August. In July, the reading topped out at a record high of 60.3. (FOX Business)
2. The Justice Department ordered BP to pay $20 billion to settle claims regarding the 2010 Deepwater Horizon oil spill. This is the largest fine in the court's history, and still needs to be approved by a federal judge. (ABC News)
3. Despite getting slapped with a price-target cut, DE jumped 6.4% on news of a big win with United Auto Workers.
4. How weekly option traders have been lining up on these 2 energy issues.
5. Stifel took note of this network equipment specialist's surge up the charts.

Commodities:

 

Crude oil started the week on a strong note, thanks to stimulus hopes from overseas and reports that Russia is willing to meet with both OPEC and non-OPEC oil producers. By the close, crude for November delivery was up 72 cents, or 1.6%, at $46.26 per barrel.

Gold, meanwhile, rose for a second straight session, with the December-dated contract settling up $1, or 0.1%, at $1,137.60 per ounce.

The Dow Jones Industrial Average (DJIA) explored a range of 119 points -- mostly to the upside -- helped by a big day for DuPont (NYSE:DD) and energy names. However, the blue-chip barometer was the exception to the rule, as lackluster trade data and a downwardly revised forecast from the International Monetary Fund (IMF) dragged the S&P 500 Index (SPX) to its first loss in six sessions. Meanwhile, a steep biotech slide sank the Nasdaq Composite (COMP), though the tech-rich index held on to its year-to-date gain. Looking ahead, traders will soon be dissecting comments from a noteworthy Fed member, as well as the unofficial start to earnings season.

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

• 25 stocks that have historically crushed it in the fourth quarter.
• The biotech that surrendered nearly half its value to explore single-digit territory for the first time in years.
• Was activist investor Carl Icahn behind today's big announcement from Freeport-McMoRan Inc (NYSE:FCX)?
• Plus ... How iPhones impacted the trade gap, Microsoft's new line of products, and big news in transcontinental partnerships.

 

The Dow Jones Industrial Average (DJIA - 16,790.19) spent time on both sides of breakeven, ultimately eking out a 13.8-point, or 0.1%, gain. Half of the Dow's 30 components ended higher, led by DuPont's 7.7% surge. UnitedHealth Group Inc (NYSE:UNH) paced the 15 laggards, dropping 3% as healthcare stocks took a dive.
 
The S&P 500 Index (SPX - 1,979.92), on the other hand, spent most of the day in the red, snapping its longest winning streak of the year. The Nasdaq Composite (COMP - 4,748.36) fared the worst of its peers, surrendering 32.9 points, or 0.7%, as biotech stocks swooned.

The CBOE Volatility Index (VIX - 19.40) struggled to pick a direction, settling with a 0.1-point, or 0.7%, drop to remain south of 20.

5 Items on Our Radar Today:

1. The U.S. trade gap jumped a month-over-month 15.6% in August, to a five-month high of $48.3 billion, the Commerce Department reported. A strong dollar sent U.S. exports to a three-year low, while demand for new Apple Inc. (NASDAQ:AAPL) iPhones bolstered imports.  (MarketWatch)
2. While traders in Asia cheered a Trans-Pacific Partnership (TPP), the European Union (EU) killed a 15-year trans-Atlantic data agreement that could impact several U.S. tech titans. The Obama administration weighed in, expressing concern about "the economic consequences" of the landmark ruling.  (Reuters; MarketWatch)
3. Microsoft Corporation (NASDAQ:MSFT) hosted an event in New York, unveiling a new line of products.
4. As oil prices rallied, call volume spiked on this pair of big-cap energy names.
5. Morgan Stanley weighed in on Tesla Motors Inc's (NYSE:TSLA) Model X sticker price.

Commodities:

 

Crude oil rocketed to a five-week high, after the Energy Information Administration (EIA) predicted declining oil output through the next year. In addition, Organization of the Petroleum Exporting Countries (OPEC) Secretary-General Abdulla el-Badri said oil prices should bounce back amid a drop in investments, and opined that OPEC and non-OPEC members should collaborate to ease global supplies. By the close, the November-dated contract added $2.27, or 4.9%, to sit at $48.53 per barrel.

A softer dollar helped gold futures higher, with the December contract adding $8.80, or 0.8%, to sit at $1,146.40 an ounce.

After the blue-chip index's narrow win on Tuesday, futures on the Dow Jones Industrial Average (DJIA) are moving higher yet again. The major economic news for the day will likely be the report on domestic crude inventories, as oil prices continue to rise -- a development that's been a boon for global markets today. Traders will also be preparing for earnings from Alcoa Inc (NYSE:AA), slated for tomorrow, which will unofficially kick off third-quarter earnings season. Meanwhile, the S&P 500 Index (SPX) is also positioned higher, as it looks to recover from its first loss in six sessions. 

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

 

• After the index's 5-day run higher, Schaeffer's Senior Quantitative Analyst Rocky White investigates whether S&P streaks create trading opportunities. 
• Bulls bombarded these 2 blue-chip energy stocks. 
• How Tesla Motors Inc (NASDAQ:TSLA) surprised Morgan Stanley. 
• Plus … 5 things you need to know this morning -- including stocks making waves and what's happening overseas.

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are 79.8 points above fair value.

5 Things You Need to Know Today

 

1. Oil's bounce is lifting stock markets in both Asia and Europe. 
2. The Chicago Board Options Exchange (CBOE) saw 657,878 call contracts traded on Tuesday, compared to 447,637 put contracts. The resultant single-session equity put/call ratio rose to 0.68, while the 21-day moving average stayed flat at 0.77. 
3. Beer giant Anheuser Busch Inbev SA (ADR) (NYSE:BUD) has raised its takeover offer for SABMiller to $104 billion in cash, valuing the company at roughly $64 per share. BUD has moved 2.3% higher ahead of the open -- even after SABMiller rejected the sweetened deal. 
4. Yum! Brands, Inc. (NYSE:YUM) is getting crushed in electronic trading, taking a 15.7% dive after the food firm cut its full-year outlook in response to weak quarterly results out of Asia. This isn't surprising, though: the company has been struggling in China for some time. 
5. Saudi Prince Alwaleed bin Talal's investment firm has increased its stake in Twitter Inc (NYSE:TWTR) to 0.72%, bringing the royal's total stake to more than 5%. The move comes after Alwaleed spoke out against Jack Dorsey -- the company's new CEO -- only a short time ago. TWTR is 1.5% higher in pre-market trading. 

Earnings and Economic Data

 

On top of the weekly petroleum inventory report, today's docket holds the Fed's consumer credit report. Acuity Brands (AYI), Constellation Brands (STZ), Global Payments (GPN), and Monsanto (MON) will step into the earnings confessional.  To see what else is coming up on this week's docket, click here.

The Dow Jones Industrial Average (DJIA) is set to open lower, following Wednesday's triple-digit win -- which marked the fourth consecutive daily gain for the blue-chip barometer. It should be an interesting day on the Street, with the minutes from the Fed's September meeting set for release this afternoon. Traders will also be preparing for third-quarter earnings season, which unofficially begins after the close, while keeping an ear turned toward speeches from regional Fed presidents John Williams and Narayana Kocherlakota. 

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

 

• How Alcoa Inc's (NYSE:AA) earnings reaction tonight could foreshadow fourth-quarter returns. 
• The 3 names that helped lead a biotech bounce. 
• The foreign investor that just upped his stake in Twitter Inc (NASDAQ:TWTR). 

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are 45.29 points below fair value. 

5 Things You Need to Know Today

 

1. The Chinese stock market returned from holiday in a big way. 
2. The Chicago Board Options Exchange (CBOE) saw 726,649 call contracts traded on Wednesday, compared to 600,156 put contracts. The resultant single-session equity put/call ratio rose to 0.83, while the 21-day moving average remained at 0.77. 
3. Amazon.com, Inc. (NASDAQ:AMZN) will take on Wall Street newcomer Etsy Inc (NASDAQ:ETSY) with Handmade, a new marketplace for artisan crafts.  This is just the latest strategic move from AMZN, which boasts a 74.6% year-to-date lead. ETSY, meanwhile, is off 2.7% ahead of the open. 
4. Casino firm Caesars Entertainment Corp (NASDAQ:CZR) announced an amended restructuring plan. The new plan is supported by 80% of senior bondholders. Amid its bankruptcy concerns, CZR has shed half its value in 2015. 
5. Not surprisingly, Domino's Pizza, Inc.'s (NYSE:DPZ) fiscal third-quarter earnings disappointed the Street, as the pizza company feels the effects of its $6 million liability charge. Pre-market trading has the shares 3.6% in the red. 

Earnings and Economic Data

 

In addition to the Fed minutes, weekly jobless claims will also be released today. AA will unofficially kick off third-quarter earnings season when it reports quarterly results after the closing bell sounds. Joining AA in the earnings spotlight are DPZ, International Speedway (ISCA), and Ruby Tuesday (RT).  To see what else is coming up on this week's docket, click here.

The Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) started the session solidly higher, with the former up more than 173 points at its intraday peak. At midday, however, both indexes are struggling to stay positive, with the Dow aiming for a fourth straight win and the S&P attempting to bounce back. The Nasdaq Composite (COMP) is in the same boat, turning tail along with tech stocks. Meanwhile, the latest batch of quarterly results has proven largely disappointing, while crude oil reversed course after reported increases in domestic production and supplies.

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

 

• The comments that sent Tesla Motors Inc (NASDAQ:TSLA) sharply lower.
• While buyout buzz is weighing on Pandora Media Inc (NYSE:P), traders are shrugging off a failed acquisition from this solar stock.
• Plus ... Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and other noteworthy stats at midday.

Among the stocks with notable put volume is Yum! Brands, Inc. (NYSE:YUM), with the contracts crossing at 18 times the intraday norm. Sparking the interest in puts is the stock's 19% post-earnings drop to $67.60, which has it sitting on the short-sale restricted (SSR) list. Short-term bears are buying to open YUM's weekly 10/9 67-strike put, counting on more end-of-week downside for shares of the Pizza Hut parent.

One of the biggest decliners on the Nasdaq is touch screen expert Neonode, Inc (NASDAQ:NEON), following the company's disappointing revenue guidance and secondary offering pricing. At last check, NEON has plummeted 18.3% at $2.15, and is on the SSR list.

The leading loser on the Big Board is Nu Skin Enterprises, Inc. (NYSE:NUS), thanks to the personal care firm's lackluster quarterly sales forecast. NUS was last seen 23.7% lower at $35.54, and fresh off a two-year low of $34.34.

The CBOE Volatility Index (VIX) is up 0.03 point, or 0.2%, at 19.43.
​

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.76, with puts outstripping calls. At last check, SPY has edged 0.5 point, or 0.3%, higher, at $198.31.

The Dow Jones Industrial Average (DJIA) is waffling ahead of this afternoon's Fed minutes release and the unofficial start of earnings season, with the benchmark last seen slightly higher. Notably, a gain today would extend the Dow's winning streak to five sessions. The Nasdaq Composite (COMP), meanwhile, is decidedly lower as tech and healthcare stocks sink. On the economic front, weekly jobless claims fell more than expected -- and to a nearly 42-year low -- while a handful of retailers will be reporting September sales figures throughout the day.

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

 

• Is Wall Street beginning to throw in the towel on Groupon Inc (NASDAQ:GRPN)?
• All you need to know about the newly launched CBOE Volatility Index (VIX) weekly options.
• Plus ... Checking in on the VIX, the SPDR S&P 500 ETF Trust (SPY), and other noteworthy stats at midday.

Among the stocks with notable option volume is computer hardware firm EMC Corporation (NYSE:EMC), with the contracts running at seven times the average intraday rate. Currently, the stock is up 3.3% at $26.81, amid reports of a potential buyout. According to the International Securities Exchange (ISE), one short-term trader initiated a bull call spread at the October 27 and 28 strikes, perhaps to bet on a bid between $27 and $28 for EMC. 

One of the notable decliners on the Big Board is burger joint Shake Shack Inc (NYSE:SHAK), thanks to a newly announced secondary offering. At last check, the stock was down 6.7% at $45.22.

Among the leading losers on the Nasdaq is drugmaker Pacific Biosciences of California (NASDAQ:PACB), down 8.6% at $7.13. Today's pullback may have been in the cards, though, as PACB's huge rally in recent sessions had lifted its 14-day Relative Strength Index to 82 -- firmly in overbought territory.

The CBOE Volatility Index (VIX) is up 0.1 point, or 0.8%, at 18.54.
​

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.60, with puts outpacing calls. At last check, SPY was off 0.1 point, or 0.1%, at $199.29.

Weak trade data out of China is taking its toll on Dow Jones Industrial Average (DJIA) futures, threatening to snap the benchmark's impressive win streak. Traders are also digesting mixed quarterly results and a $10 billion share buyback program from Dow component Johnson & Johnson (NYSE:JNJ), with another pair of blue chips set to report after the close. Meanwhile, crude oil is inching higher after an overnight drubbing, with the contract shrugging off a warning from the International Energy Agency (IEA) that the global oversupply glut will persist through next year. Elsewhere, St. Louis Fed President James Bullard earlier called for "gradually edging" interest rates higher "since the [economic] goals have been met and policy would still remain very accommodative."

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

 

• Why Monday's low-volume win may be a sign of good things to come. 
• Short sellers are flocking to one sector -- but fleeing from another.
• How EMC Corporation's (NYSE:EMC) sale -- plus two other bearish catalysts -- sank this tech stock.

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are nearly 76 points below fair value.

5 Things You Need to Know Today

 

1. A steep drop in Chinese imports last month wasn't enough to stop Shanghai stocks from advancing -- but the rest of the globe didn't fare so well.
2. The Chicago Board Options Exchange (CBOE) saw 519,574 call contracts traded on Monday, compared to 346,328 put contracts. The resultant single-session equity put/call ratio rose to 0.67, while the 21-day moving average held at 0.76. 
3. Just a day after boosting its takeover offer, Anheuser Busch Inev SA (ADR) (NYSE:BUD) has reached an agreement in principle to buy SABMiller Plc for roughly $104 billion, in a move that would combine the two biggest beer companies in the world. The news has U.S.-traded shares of BUD pointed 2.1% higher ahead of the open.
4. International Business Machines Corp. (NYSE:IBM) continues to make its presence felt in the cloud space. Big Blue this morning agreed to a 10-year, $700 million deal to provide Etihad Airways with a global technology framework, including a cloud data center in Abu Dhabi -- among the first of its kind in the Middle East.
5. While Starbucks Corporation (NASDAQ:SBUX) is dabbling in beer and wine, that doesn't mean it's getting away from coffee. This morning, the company announced it is launching a delivery service pilot program in New York's Empire State Building.

Earnings and Economic Data

 

Today's economic docket is light, with the afternoon release of the Treasury budget the sole highlight. Dow components JPMorgan Chase (JPM) and Intel (INTC) are expected to report earnings. To see what else is coming up on this week's docket, click here.

The Dow Jones Industrial Average (DJIA) tracked a nearly 200-point trading range today. Although the blue-chip barometer spent time on both sides of breakeven, the action eventually resolved to the upside, as a rebound in biotechs outweighed pressure from the energy sector. Elsewhere, the S&P 500 Index (SPX) came within a chip-shot of toppling the critical 2,000 mark for the first time since mid-September, while the Nasdaq Composite (COMP) extended its year-to-date lead.

Looking ahead, the rest of the week should be a busy one. Not only will traders be dissecting the minutes from the September Fed meeting with a fine-toothed comb, they'll also be contemplating the unofficial start of earnings season.

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

• Why Alcoa Inc's (NYSE:AA) earnings reaction could have broader implications.
• Are these 25 stocks flashing a fourth-quarter warning sign?
• The catalyst behind GoPro Inc's (NASDAQ:GPRO) record low.
• Plus ... Nokia Corporation (ADR) (NYSE:NOK) ties up some loose ends, Bill Ackman takes another swipe at Herbalife Ltd. (NYSE:HLF), and the fantasy football scandal everyone is talking about.

The Dow Jones Industrial Average (DJIA - 16,912.29) was down 25 points at midday, before muscling back to a 122.1-point, or 0.7%, gain. The Dow has ended higher four sessions in a row, marking its best winning streak since July. Twenty-five of the Dow's 30 components closed higher, led by Merck & Co., Inc.'s (NYSE:MRK) 2.3% pop. Nike Inc (NYSE:NKE) paced the five decliners with its 0.9% drop.
 
The S&P 500 Index (SPX - 1,995.83) came within one point of toppling the 2,000 mark in intraday action, and settled up 15.9 points, or 0.8%. The Nasdaq Composite (COMP - 4,791.15), meanwhile, outperformed its peers, adding 42.8 points, or 0.9%.

The CBOE Volatility Index (VIX - 18.40) shed 1 point, or 5.2%, to close at its lowest perch since Aug. 20.

5 Items on Our Radar Today:

1. NOK unveiled a number of managerial and organizational updates to its planned takeover of Alcatel Lucent SA (ADR) (NYSE:ALU). Specifically, NOK plans to combine managers from both firms, with the combined company creating four groups -- Mobile Networks, Fixed Networks, Applications & Analytics, and IP/Optical Networks. The acquisition is expected to be completed in the first half of 2016. (MarketWatch)
2. Bill Ackman's disdain for HLF has been fodder for the Street for some time, and today, the activist investor said he has "lots of new stuff, none I can report," and to "stay tuned." The comments were enough to send HLF down 7.4%, while sector peer Nu Skin Enterprises, Inc. (NYSE:NUS) plunged on a dismal forecast.
3. Schaeffer's contributor Adam Warner took a closer look at the "insider trading" allegations levied against one DraftKings employee.
4. This cybersecurity name got a lift after unveiling its newest acquisition.
5. How Saudi Arabian royalty helped prop up Twitter Inc (NYSE:TWTR).

Commodities:

Crude oil erased an early lead, after the Energy Information Administration (EIA) reported a surprise climb in weekly inventories and domestic production. At the close, November-dated crude was down 72 cents, or 1.5%, at $47.81 per barrel -- black gold's first loss in four sessions.

Gold futures rose for a fourth straight day, with gold for December delivery settling up $2.30, or 0.2%, at $1,148.70 per ounce.

As expected, it was a low-volume session on Wall Street today, with the bond market closed for the Columbus Day holiday. In fact, the Dow Jones Industrial Average (DJIA) tracked a range of less than 75 points, before settling with modest gains -- and extending its longest winning streak of 2015. Elsewhere, the S&P 500 Index (SPX) also ended the day slightly higher -- which could spell additional gains for the broad-market barometer down the road. Volatility is sure to pick up, though, with earnings season getting underway -- and October options expiration to contend with.

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

• 3 blue-chip bigwigs with earnings on deck.
• A down day for Twitter Inc (NYSE:TWTR) spread to most corners of the social media scene.
• Facebook Inc's (NASDAQ:FB) latest venture exacerbated losses for this Twitter partner.
• Plus ...Fed officials weigh in on interest rates, Anheuser Busch Inbev SA (ADR) (NYSE:BUD) ups the ante, and a tech takeover for the record books.

The Dow Jones Industrial Average (DJIA - 17,131.86) added 47.4 points, or 0.3%, to close at its highest level since Aug. 19. Eighteen of the Dow's components gained ground, led by UnitedHealth Group Inc's (NYSE:UNH) 2.7% pop. Caterpillar Inc. (NYSE:CAT) paced the 12 decliners with its 1.1% loss.
 
The S&P 500 Index (SPX - 2,017.46) rose 2.6 points, or 0.1%, while the Nasdaq Composite (COMP - 4,838.64) tacked on 8.2 points, or 0.2%.

The CBOE Volatility Index (VIX - 16.17) shed 0.9 point, or 5.3%, to settle at its session low.

5 Items on Our Radar Today:

1. Atlanta Fed President Dennis Lockhart said that an improving job market would make raising interest rates in 2015 "justifiable." Separately, Chicago Fed President Charles Evans -- who has said he thinks a 2016 increase is "the best choice" -- noted that there is "wiggle room" in terms of the timing of liftoff. (Bloomberg, Reuters)
2. Ahead of Wednesday's deadline, BUD upped its takeover offer for SABMiller Plc to roughly 67.4 billion pounds, or $103.6 billion. This is the fourth bid the former has put in for the latter -- the most recent of which occurred last week. (Bloomberg)
3. EMC Corporation (NYSE:EMC) agreed to be bought out by privately held Dell Inc. for roughly $67 billion -- marking the biggest takeover in the technology industry on record.
4. This EMC affiliate tumbled to a two-year low amid a perfect bearish storm -- but option traders think the worst is yet to come.
5. Have we seen an end to the ugliness? Schaeffer's contributor Adam Warner offers up his two cents.

Commodities:

Crude oil got smacked today, amid reports that the Organization of the Petroleum Exporting Countries (OPEC) increased production in September. By the close, crude for November delivery was down $2.53, or 5.1%, at $47.10 per barrel -- its steepest one-day loss since Sept. 1.

Gold, meanwhile, jumped, thanks to a cooling greenback. At session's end, December-dated gold was up $8.60, or 0.7%, at $1,164.50 per ounce. This is the malleable metal's highest settlement since July 6.

After slipping nearly 100 points out of the gate, the Dow Jones Industrial Average (DJIA) is attempting gains at midday, as the blue-chip index looks to extend its winning streak to eight in a row. While disappointing data out of China and a relatively hawkish outlook from St. Louis Fed President James Bullard initially weighed on stocks, a big rebound in crude has helped buoy sentiment. Meanwhile, Dow component Johnson & Johnson (NYSE:JNJ) is fighting for gains after unveiling weak quarterly revenue, and two more index peers gear up for their after-the-close turns in the earnings spotlight. 

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

 

• Wall Street is predicting all-time highs for this airliner, while its sector peer's woes continue. 
• Schaeffer's contributor Adam Warner lays out his SPDR S&P 500 ETF Trust (SPY) hedging strategy. 
• Plus ... Checking in on the CBOE Volatility Index (VIX), the SPY, and other noteworthy stats at midday.

Among the stocks with notable option volume is Twitter Inc (NYSE:TWTR). Both calls and puts are crossing at roughly three times the average pace, as traders respond to details surrounding the social media firm's layoffs and an upbeat third-quarter sales forecast. The shares are 5.6% higher at $30.36 -- a marked reversal from Monday's decline. 

One of the top gainers on the Big Board is Molson Coors Brewing Company (NYSE:TAP), thanks to some big M&A news within the sector. The shares have surged 10% to $87.07, and earlier reached a record peak of $89. With the gains, the brewing name is 16.8% higher on the year. 

Among the biggest losers on the Big Board is software stock VMware, Inc. (NYSE:VMW). The shares are extending Monday's sell-off, dropping another 4.4% to trade at $69.11, thanks to a round of bearish brokerage notes -- including a downgrade to "market perform" from "outperform" from JMP Securities. Earlier, VMW hit a two-year low of $68.28. 

The CBOE Volatility Index (VIX) is up 0.3 point, or 2%, though it continues to trade below its 10-day moving average. 
​

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.34, with puts more than doubling calls. At last check, the SPY was up 0.4 point, or 0.2%, at $201.88. 

It was a push-and-pull session on Wall Street today, with the bears eventually reigning supreme. Traders took their time digesting disappointing trade data from overseas, as well as the first in a long line of upcoming blue-chip earnings reports. Additionally, crude oil erased its early gains, while Fed officials continued to weigh in on interest rates. At the close, the Dow Jones Industrial Average (DJIA) had snapped its longest winning streak of the year, while the S&P 500 Index (SPX) was clinging to support atop the 2,000 mark.

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

• How SPY open interest could impact this week's trading, courtesy of Schaeffer's Senior VP of Research Todd Salamone.
• The drugmaker that's shed half its value this week.
• While this cloud concern continued to tumble on a big M&A announcement, one beverage behemoth flew to record heights in the face of record-setting takeover news.
• Plus ... More Fed fodder, the end of an era for Playboy, and 3 notable names headed to the earnings confessional.

The Dow Jones Industrial Average (DJIA - 17,081.89) spent time on both sides of breakeven today, eventually succumbing to a 49.9-point, or 0.3%, loss. Twenty-two of the Dow's 30 components closed in the red, led by a 2.5% drop for Merck & Co., Inc. (NYSE:MRK). UnitedHealth Group Inc (NYSE:UNH) paced the eight advancers with its 1.2% gain.
 
The S&P 500 Index (SPX - 2,003.69) closed the session down 13.8 points, or 0.7%. The Nasdaq Composite (COMP - 4,796.61), meanwhile, performed the worst of its peers -- shedding 42 points, or 0.9%.

The CBOE Volatility Index (VIX - 17.67) tacked on 1.5 points, or 9.3%, and reclaimed a foothold atop its 120-day moving average.

5 Items on Our Radar Today:

1. While St. Louis Fed President James Bullard earlier laid out his support for a 2015 rate hike, Fed Governor Daniel Tarullo took the road less traveled. Specifically, speaking to CNBC, Tarullo said that while there is "no question we've made progress in the labor market," he doesn't "expect it would be appropriate to raise rates." (CNBC)
2. Playboy announced today it would stop featuring nude models beginning with its March 2016 issue -- a first in the magazine's 62-year history. The move comes as many publications now rely on social media outlets such as Facebook Inc. (NASDAQ:FB) to circulate content, a number of which ban nudity. (Bloomberg)
3. Third-quarter earnings season is just beginning, and here are 3 big names for tomorrow's watch list.
4. J.P. Morgan Securities took different routes on sector peers American Airlines Group Inc (NASDAQ:AAL) and Southwest Airlines Co (NYSE:LUV).
5. A battle is heating up between beverage giants The Coca-Cola Co (NYSE:KO) and PepsiCo, Inc. (NYSE:PEP).

Commodities:

Crude oil closed lower today, after the International Energy Agency (IEA) said it expects the market to remain oversupplied through next year. At the close, November-dated crude was down 44 cents, or 0.9%, at $46.66 per barrel.

Gold gained ground for a third straight session, amid speculation the Fed could delay raising interest rates. At session's end, gold for December delivery was up 90 cents, or 0.1%, at $1,165.40 per ounce.

A day after its win streak came to an end, futures on the Dow Jones Industrial Average (DJIA) are waffling -- but were last seen slightly lower -- as traders offer a chilly reception to the latest round of blue-chip earnings. Specifically, both Intel Corporation (NASDAQ:INTC) and JPMorgan Chase & Co. (NYSE:JPM) are trading lower ahead of the bell following their latest quarterly reports. There's plenty of data on tap this morning, too, with retail sales and the producer price index (PPI) both falling short of consensus estimates. Later in the session, the Fed's Beige Book is set to drop.

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

 

• Schaeffer's Senior Quantitative Analyst Rocky White looks at the bright side of October volatility spikes.
• Why bullish bettors upped the ante on Tesla Motors Inc (NASDAQ:TSLA) and Twitter Inc (NYSE:TWTR).
• The 2 beverage behemoths trying to woo Chobani.

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are roughly 11 points below fair value.

5 Things You Need to Know Today

 

1. Stocks in Asia and Europe were pressured lower today, thanks to the latest batch of lackluster economic data out of China.
2. The Chicago Board Options Exchange (CBOE) saw 565,079 call contracts traded on Tuesday, compared to 452,778 put contracts. The resultant single-session equity put/call ratio jumped to 0.80, while the 21-day moving average slipped to 0.75. 
3. Delta Air Lines, Inc. (NYSE:DAL) reported better-than-expected quarterly earnings and revenue, boosting the shares 1.6% in pre-market trading. Historically speaking, though, the stock tends to make even bigger post-event moves.
4. The U.S. Department of Justice continues to stay busy, reportedly setting its sights on investment bank Goldman Sachs Group Inc (NYSE:GS) for its possible role in a Malaysian corruption scandal, according to The Wall Street Journal's sources.
5. Apple Inc. (NASDAQ:AAPL) -- which has been churning on fears of waning iPhone demand -- is 0.7% lower ahead of the bell after the company lost a processor patent dispute to the University of Wisconsin. The company faces potential damages that could reach $862 million.

Earnings and Economic Data

 

The data flow picks up today, with business inventories and the Fed's latest Beige Book report due out. Bank of America (BAC), Wells Fargo (WFC), BlackRock (BLK), Netflix (NFLX), and Xilinx (XLNX) will all announce earnings. To see what else is coming up on this week's docket, click here.