The Dow Jones Industrial Average (DJIA) jumped triple digits out of the gate to a new record high, but has since pared these gains. Stocks are getting a boost from a surge in industrials, while traders are also digesting the latest trade deficit data, and the Labor Department's Job Openings and Labor Turnover Survey (JOLTS), which showed 5.5 million job openings at the end of December. What's more, Wall Street is apparently turning a blind eye to plunging oil prices -- with March-dated crude futures trading down 1.8% at $52.05 per barrel. Meanwhile, the tech-heavy Nasdaq Composite (COMP) also snagged a fresh high earlier, while the broader S&P 500 Index (SPX) came within 2 points of hitting a new milestone of its own, but ran out of steam near this round technical barrier.

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

• The retail stock plummeting to annual lows after earnings.
• Analyst: Record highs for Apple Inc. (NASDAQ:AAPL).
• Plus, NVIDIA puts fly, the steel stock popping on analyst attention, and one drugmaker swooning on a C-suite shake-up.

Among the stocks with unusual options volume at midday is chipmaker NVIDIA Corporation (NASDAQ:NVDA). The company is preparing to report earnings Thursday night, and the shares are up 2.5% at $120.24 today -- just off a new record high of $120.92 -- despite a bearish brokerage note. NVDA puts are trading at double the expected intraday rate, with 38,301 contracts on the tape. The $110 level appears to be in focus, with the February and weekly 2/10 110-strike puts the two most active options. New positions are being initiated, with a mix of buying and selling activity spotted.

United States Steel Corporation (NYSE:X) is among the top performers on the New York Stock Exchange at midday. An analyst upgrade has helped boost the shares 0.7% to $34.45, widening X's year-over-year lead to roughly 343%.

Among the worst performers on the Big Board, meanwhile, is drug stock Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), off 4.4% at $32.84. Weighing on the shares is news CEO Erez Vigodman has resigned. TEVA has spent the past year sliding down the chart, with the 50-day moving average ushering the shares lower since August.

Don't miss the stock market's big finish. Sign up now for Schaeffer's Market Recap.

Dow Jones Industrial Average (DJIA) futures are trading slightly below fair value this morning, with earnings and oil prices again set to drive stock action. Media stocks in particular will be in focus, as shares of Walt Disney Co (NYSE:DIS) edge lower after last night's results, while Time Warner Inc (NYSE:TWX) eyes a post-earnings pop. Traders will also pay close attention to energy stocks, with an update on domestic crude inventories due to hit the Street not long after the open. At least check, March-dated crude oil futures were off another 1.1% at $51.61 per barrel. 

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

• Schaeffer's Senior Quantitative Analyst Rocky White blows up absurd stock market myths. 
• The pre-earnings buy signal for Cliffs Natural Resources Inc (NYSE:CLF).  
• How one options trader may be betting on a big move for this energy ETF.
• Plus, Gilead's slide continues, Allergan earnings impress, and analysts eye big upside for Twilio. 

Futures on the Dow Jones Industrial Average (DJIA) are 14.3 points below fair value. 

5 Things You Need to Know Today
  

1. The Chicago Board Options Exchange (CBOE) saw 794,053 call contracts traded on Tuesday, compared to 552,194 put contracts. The resultant single-session equity put/call ratio dropped to 0.70, while the 21-day moving average remained at 0.67.
2. Drug stock Gilead Sciences, Inc. (NASDAQ:GILD) is getting hit hard after earnings, on pace to open 6.5% lower. A wide range of bearish analyst notes have since come through, including a downgrade to "neutral" from "buy" at Citigroup. The shares have been sliding lower for months, and today's pending drop could put the put-heavy 65 strike in play -- which represents nearly three-year-low territory. 
3. Meanwhile, fellow healthcare concern Allergan plc Ordinary Shares (NYSE:AGN) has been one of the hottest stocks in 2017, and the shares show no sign of slowing down today. Ahead of the open, AGN is up 1.7%, thanks to a fourth-quarter earnings beat and a strong full-year forecast. 
4. Bullish options traders will be happy to see Twilio Inc (NYSE:TWLO) among the pre-market winners, after the tech company beat Wall Street's earnings and revenue estimates for the fourth quarter. Both Pacific Crest and Canaccord Genuity raised their price targets to $40 as a result, a level that represents a 29% premium to Tuesday's close of $30.96. 
5. Flotek Industries (FTK), GrubHub (GRUB), Glu Mobile (GLUU), Humana (HUM), Imperva (IMPV), Owens Corning (OC), Paycom (PAYC), Sanofi (SNY), and Whole Foods (WFM) are among those reporting earnings today.

Overseas Trading

Asian stocks finished the day mostly higher, recovering from earlier losses caused by slipping oil prices. Japan's Nikkei closed 0.5% higher, as exporters gained ground and several companies delivered strong earnings reports. Elsewhere, China's Shanghai Composite tacked on 0.5%, and the Hong Kong Hang Seng added 0.7%. The South Korean Kospi bucked the regional trend higher, dropping 0.5% on the day.

European stocks are mostly lower at midday, amid an uncertain political backdrop and a round of negative earnings reactions -- although travel shares are trading higher due to falling oil prices. London's FTSE 100 is down 0.1%, as traders anticipate the House of Commons' final vote on proposed amendments to the Brexit bill. Meanwhile, Germany's DAX is down 0.1%, while the French CAC 40 is up 0.2%. 

Stay on top of breaking stock market news with Schaeffer's Midday Market Check.

The Dow Jones Industrial Average (DJIA) fell out of the gate, with stocks pressured by falling oil prices. The Dow has since pared its losses, with March-dated crude futures now trading up 0.5% at $52.41 per barrel, following the Energy Information Administration's (EIA) weekly crude inventories report. Specifically, data showed domestic gasoline stockpiles unexpectedly fell last week, which is helping to overshadow the second largest weekly rise in U.S. crude inventories on record. Nevertheless, a sell-off in financial shares is keeping the Dow in the red, with bank stocks Goldman Sachs Group Inc (NYSE:GS) and JPMorgan Chase & Co. (NYSE:JPM) applying the most pressure.

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

• The reliable "buy" signal that just flashed for these 2 stocks.
• Goldman Sachs sets a 25% upside target for Walt Disney Co (NYSE:DIS).
• Plus, options pop on spiraling Gilead Science, the staffing stock at new highs, and another sharp drop for DryShips.

Among the stocks with unusual volume at midday is biotech Gilead Sciences, Inc. (NASDAQ:GILD). The shares are down 9.4% at $66.25 -- fresh off a two-year low of $65.75 -- after the company's disappointing guidance. With GILD on the short-sale restricted list, options are crossing at seven times their usual daily volume, with 91,215 calls and 82,349 puts traded, both on track to notch new annual highs. The June 60 and 67.50 puts are most active, where it looks like one option trader may be rolling down her bearish bet.

Kforce Inc. (NASDAQ:KFRC) is among the top performers on the Nasdaq at midday, currently trading 20.6% higher at $25.75 -- and earlier hit a new 12-month peak at $26.95 -- after the staffing service delivered an earnings beat and received a price-target hike to $25 from $24 at Deutsche Bank. KFRC is now trading up more than 34% year-over-year, and today's move north puts the shares above recent resistance in the $23-$24 neighborhood, after a sharp bounce off its 80-day moving average.

Among the worst performers on the Nasdaq is shipping stock DryShips Inc. (NASDAQ:DRYS), which is down 15.7% at $4.07. The company's disappointing earnings report and hefty impairment charge is pressuring the shares, and extending DRYS' 99% year-over-year decline.

Don't miss the stock market's big finish. Sign up now for Schaeffer's Market Recap.

The Dow Jones Industrial Average (DJIA) tagged its latest in a string of record highs earlier, last seen trading up triple digits. Stocks are still booming following last week's tax plan announcement from President Donald Trump, who has also eased some foreign policy worries after speaking with leaders from China and Japan. Even a sell-off in crude oil isn't dampening optimism, with March-dated crude last seen 1.7% lower at $52.95 per barrel. Notably, the S&P 500 Index (SPX) -- which hit its own all-time peak -- has surpassed the $20 trillion market cap for the first time ever, while the tech-heavy Nasdaq Composite (COMP) also notched a new intraday high. Meanwhile, the CBOE Volatility Index (VIX) is on the rise, perhaps amid a spike in short covering.

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

• 2 Dow stocks soaring on bullish analyst attention.
• An SEC investigation has sent this food stock to a three-year low.
• Plus, AK Steel options traders target double digits, the popping potash producer, and SunPower slumps ahead of earnings.

Among the stocks with unusual options volume at midday is steel issue AK Steel Holding Corporation (NYSE:AKS). The shares are shaking off a downgrade from the brokerage bunch -- up 0.2% at $8.41 --  and AKS calls are changing hands at twice the average intraday rate, with 26,000 contracts traded. The March 10 call is attracting the most attention so far, with nearly 14,000 contracts on the tape. It looks like some traders may be purchasing new positions here, betting on AKS to rally above the round $10 mark by expiration at the close on Friday, March 17.

Intrepid Potash, Inc. (NYSE:IPI) is one of the biggest advancers on the New York Stock Exchange, with the stock trading up 14% at $2.24 -- and erasing its year-to-date deficit. Boosting shares of the potash producer is a price-target hike to $2.00 from $1.15 at UBS.

Among the worst performers on the Nasdaq at midday is solar energy stock SunPower Corporation (NASDAQ:SPWR), down 1.8% at $7.03. The shares have been sliding over the past year, with the overhead 80-day moving average causing frequent trouble. The company is gearing up to report earnings after Wednesday's close, and short sellers are likely hoping SPWR continues its journey lower.

Don't miss the stock market's big finish. Sign up now for Schaeffer's Market Recap.

The Dow Jones Industrial Average (DJIA) spent the day in the red, with sinking financial stocks overshadowing an oil rebound. An uneventful earnings reaction from Walt Disney Co (NYSE:DIS) also failed to tip the scales in the bulls' favor. The Nasdaq Composite (COMP), however, notched a record closing high, while the S&P 500 Index (SPX) eked out a modest win of its own. Elsewhere, traders are looking ahead to tomorrow's weekly jobless claims report, as well as several Fed speeches and a full earnings docket.
 
Continue reading for more on today's market, including: 

• The oversold sector that could be ready to pop.
• The biotech stock that skyrocketed to all-time highs.
• 2 airline stocks approaching critical levels. 
• Plus, 3 massive gold bets, Trump's Nordstrom noise, and the contrarian case for Parker-Hannifin.

The Dow Jones Industrial Average (DJIA - 20,054.34) lost 36 points for the day, or 0.2%. Nike Inc (NYSE:NKE) led the 15 Dow winners, gaining 2%, while the 14 Dow losers were paced by JPMorgan Chase & Co. (NYSE:JPM), which shed 0.9%. DIS finished flat for the day.

The S&P 500 Index (SPX - 2,294.67) finished higher, tacking on 1.6 points, or 0.1%. The Nasdaq Composite (COMP - 5,682.45) ended up 8.2 points, or 0.2%.  

The CBOE Volatility Index (VIX - 11.45) lifted 0.2 point, or 1.4%.

5 Items on Our Radar Today

1. Following a meeting with President Donald Trump, Intel Corporation (NASDAQ:INTC) CEO Brian Krzanich announced that the company will be building a new semiconductor factory in Arizona, a $7 billion investment that will bring up to 3,000 jobs to the state. The project, which will take an estimated three to four years to complete, will resume construction on a previous plant, which was never completed and now remains vacant. (CNBC)
2. Panera Bread Co (NASDAQ:PNRA) shares touched a record high after earnings, with the restaurant chain citing investments in technologies such as ordering kiosks boosting sales to offset rising labor costs. (Reuters)
3. The bullish contrarian case for Parker-Hannifin Corp (NYSE:PH).
4. 3 massive options bets on gold stocks.
5. The Trump tweet that temporarily shook Nordstrom, Inc. (NYSE:JWN).

Data courtesy of Trade-Alert

Commodities

March-dated crude futures rose 17 cents, or 0.3%, to close at $52.34 per barrel, in spite of domestic crude stockpiles surging by a bigger-than-expected 13.8 million barrels last week. It was the fifth weekly uptick in oil inventories -- and the second-biggest surge on record -- though gasoline supplies unexpectedly fell.

April-dated gold futures added $3.4, or 0.3%, to end the day at $1,239.50 per ounce, for a fifth straight day of gains. Political uncertainty in the U.S. and European Union helped boost the "safe haven" precious metal to three-month highs.

Get your daily dose of Dow futures, stock news, and more with Schaeffer's Opening View.

The Dow Jones Industrial Average (DJIA) spent the day trading higher, notching a new record high for the third straight day, and finishing with a triple-digit win. Investors are still eagerly awaiting details of the forthcoming tax plan recently touted by U.S. President Donald Trump, who today met with Canadian Prime Minister Justin Trudeau amid promises to strengthen trade relations. Traders are also looking ahead to a handful Fed speeches tomorrow, including testimony from Fed Chair Janet Yellen. Elsewhere, the S&P 500 Index (SPX) and Nasdaq Composite (COMP) also notched new all-time intraday highs, as finance and tech stocks took flight, with the SPX breaking through the $20 trillion market cap.

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

• The signal suggesting the Trump rally could stall.
• 5 reasons we didn't trade United Parcel Service, Inc. (NYSE:UPS) stock options. 
• 2 key technical levels options traders are watching for Vale SA (ADR) (NYSE:VALE) and Micron Technology, Inc. (NASDAQ:MU).
• Plus, an "unlimited" price war, 2 solar stocks on deck for earnings, and the latest Icahn rumors.

The Dow Jones Industrial Average (DJIA - 20,412.16) notched an all-time high of 20,441.48, ending the day 0.7% higher, adding 142.8 points. Of the 25 Dow winners, Caterpillar Inc. (NYSE:CAT) enjoyed the biggest gains, adding 2.3%, while the five Dow losers were led by Verizon Communications Inc. (NYSE:VZ), which dropped 0.9%.

The S&P 500 Index (SPX - 2,328.25) also notched a new all-time high of 2,331.58, adding 0.5%, or 12.2 points, for the day. The Nasdaq Composite (COMP - 5,763.96) rounded out the all-time highs, tapping 5,770.99, and finishing the day with a gain of 0.5%, or 29.8 points.

The CBOE Volatility Index (VIX - 11.07) rose 0.2 point, or 2%.

5 Items on Our Radar Today

1. DuPont (NYSE:DD) and Chemours Co (NYSE:CC) each agreed to pay $335.4 million to settle a personal injury lawsuit stemming from toxic chemical exposure accusations. CC and its former parent company, DD, both surged after news of the settlement broke, with CC touching a new record high. (MarketWatch)
2. According to unnamed sources, Burger King parent Restaurant Brands International Inc (NYSE:QSR) is reportedly pursuing Popeyes Louisiana Kitchen Inc (NASDAQ:PLKI), sending the shares of the M&A target up 7.2%. (Reuters)
3. Icahn rumors had option bulls setting their sights on Gilead Sciences, Inc. (NASDAQ:GILD).
4. The "unlimited" price war weighing on these telecom stocks.
5. 2 solar stocks to watch ahead of earnings.

Data courtesy of Trade-Alert

Commodities

March-dated crude futures fell 93 cents, or 1.7%, to end the day at $52.93 per barrel, as concerns about rising U.S. output weighed on oil prices. It was black gold's first loss in four sessions.

April-dated gold futures fell for the third straight session, shedding $10.10, or 0.8%, to close at $1,225.80 per ounce, pressured by a rising U.S. dollar and strong U.S. stock markets.

Get your daily dose of Dow futures, stock news, and more with Schaeffer's Opening View.

Dow Jones Industrial Average (DJIA) futures are signaling another day of gains for stocks, as Wall Street awaits Fed Chair Janet Yellen. Specifically, Yellen is scheduled to begin a two-day testimony before Congress shortly after the open, with a number of regional Fed presidents set to speak throughout the day, as well. Already, Richmond Fed President Jeffrey Lacker stepped up to the mic, opining that "significantly higher rates are warranted." On the data front, U.S. producer prices rose by more than expected last month, jumping by the biggest margin in four years. In corporate news, Dow stock Apple Inc. (NASDAQ:AAPL) is eyeing fresh highs, while healthcare giants Humana Inc (NYSE:HUM) and Aetna Inc (NYSE:AET) have officially called off their merger plans. 

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

• 3 drug stocks that made huge moves. 
• The options strategy to manage this market's risks, courtesy of Schaeffer's Senior VP of Research Todd Salamone. 
• Technical resistance and "Frexit" fears are keeping this ETF in check ahead of France's upcoming election.
• Plus, Humana and Aetna search for direction, T-Mobile beats, and Gilead's positive drug development.

Futures on the Dow Jones Industrial Average (DJIA) are nearly 26 points above fair value.

5 Things You Need to Know Today
  

1. The Chicago Board Options Exchange (CBOE) saw 865,227 call contracts traded on Monday, compared to 523,520 put contracts. The resultant single-session equity put/call ratio dropped to 0.61, while the 21-day moving average edged down to 0.67.
2. Health insurance stocks HUM and AET are both unchanged in electronic trading, after the companies announced they're ditching their merger efforts after a federal judge ruled against the companies last month. Humana is now owed a $1 billion breakup fee from Aetna. 
3. Despite posting better-than-expected fourth-quarter earnings and revenue, shares of T-Mobile US Inc (NASDAQ:TMUS) are edging lower ahead of the open. The potential drop could be related to yesterday's news of an unlimited data plan from telecom rival Verizon Communications, Inc. (NYSE:VZ). Still, TMUS has been a top performer on Wall Street over the past year, adding 73.5%. 
4. Gilead Sciences, Inc. (NASDAQ:GILD) is on the move yet again, just a day after rumors that activist investor Carl Icahn is interested in the company had the stock rallying. This morning, GILD is eyeing a 1.6% pop, thanks to promising mid-stage trial results from its experimental HIV drug. 
5. Atlanta Fed President Dennis Lockhart and Dallas Fed President Robert Kaplan also have scheduled speeches today. American International Group (AIG), Dr Pepper Snapple (DPS), Express Scripts (ESRX), and Molson Coors (TAP) are among the other companies set to release earnings. 

Overseas Trading

Markets in Asia finished the session mostly lower, as traders proceed with caution ahead of Yellen's testimony. Japan's Nikkei led the losses, shedding 1.1% after the country's finance minister, Tao Aso, noted that creating a framework for an economic dialogue with the U.S. could take some time. Also weighing on Tokyo shares was a strengthening yen and heavy losses from electronics giant Toshiba, which fell more than 8% on news the company delayed its earnings report. Elsewhere, South Korea's Kospi dropped 0.2% and Hong Kong's Hang Seng slipped 0.03%. In China, the Shanghai Composite managed to finish up 0.05%, after the country reported its largest rise in consumer prices in over two years, as well as its biggest jump in producer prices since 2011.

European stocks are little changed at midday, as investors parse a heavy round of corporate earnings and a downwardly revised fourth-quarter gross domestic product (GDP) for the eurozone. In the U.K., inflation for January rose at its fastest rate since June 2014, thanks to stronger oil prices and a weaker pound -- though the 1.8% uptick missed predictions. London's FTSE 100 was last seen a hair below breakeven, while Germany's DAX is off 0.04%, and France's CAC 40 is just 0.03% higher.

Stay on top of breaking stock market news with Schaeffer's Midday Market Check.

The Dow Jones Industrial Average (DJIA) has explored a relatively narrow range of just over 50 points so far today, chopping on either side of breakeven since the open. While oil prices tick higher -- last seen up 0.9% at $53.41 per barrel for the March futures contract -- stocks are reacting to hawkish comments from the Federal Reserve. Following a speech by Richmond Fed President Jeffrey Lacker this morning, in which he made a case for "significantly higher rates," the spotlight has turned to Fed Chair Janet Yellen, who kicked off a two-day testimony before Congress. So far, Yellen has reiterated her commitment to serve her full term, and said that while interest rate increases should continue to be gradual, it would be "unwise" to wait too long -- firmly putting a rate hike at the central bank's mid-March meeting on the table.

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

• The Alibaba Group Holding Ltd (NYSE:BABA) partnership boosting this toymaker.
• How options traders are bracing for another giant post-earnings swing for Groupon Inc (NASDAQ:GRPN).
• Plus, a massive put spread on NetApp, General Motors' M&A buzz, and a retailer plummeting to annual lows.

Among the stocks with unusual options volume at midday is tech stock NetApp Inc. (NASDAQ:NTAP). The shares are taking a slight breather, off 0.1% at $39.54, after earlier tapping an annual high of $39.90 on upbeat analyst attention ahead of tomorrow night's earnings. And in NTAP's typically quiet options pits, the stock's put are flying across the tape at 22 times the expected intraday pace, thanks to a spread of 4,000 contracts each initiated at the February 38 and 40 puts. Data from the International Securities Exchange (ISE) indicates its a massive bear put spread ahead of earnings. As such, NTAP's put volume is now on pace to finish the day at a 52-week high.

Carmaker General Motors Company (NYSE:GM) is among the top performers on the New York Stock Exchange, on news the company is in talks to sell its Europe-based Opel unit to Peugeot owner PSA Group. The stock has tacked on 5.3% today to $37.39, extending its year-over-year lead to 34.5%.

Among the worst performers on the Nasdaq at midday is retail stock Hibbett Sports, Inc. (NASDAQ:HIBB), down 12.6% to $29.07, after earlier tapping an annual low of $28.55. Weighing on the shares today is disappointing full-year guidance, which inspired a round downgrades and price-target cuts from the brokerage bunch. HIBB is off 36.6% from its mid-November annual high after being rejected at its 30-day moving average on Monday.

Don't miss the stock market's big finish. Sign up now for Schaeffer's Market Recap.

The Dow Jones Industrial Average (DJIA) extended its daily win streak to six, eking out a fresh record closing high after a positive earnings reaction for Cisco Systems, Inc. (NASDAQ:CSCO). The same can't be said for the S&P 500 Index (SPX) and Nasdaq Composite (COMP), which snapped their longest win streaks since 2013 and 1999, respectively, but not before notching new intraday highs of their own. Though energy and bank stocks weighed on the broader equities market, traders also digested this morning's round of mostly upbeat economic data and hawkish comments from Fed Vice Chair Stanley Fischer. Meanwhile, during a press conference, President Donald Trump said a replacement for the Affordable Care Act (ACA) would be unveiled in March -- and take priority over his highly anticipated tax plan.

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

• The 25 best stocks to own after Presidents Day.
• The bearish streak that just made history.
• These 2 low-priced stocks with room to run.
• Plus, the case for buying GoPro, the car rental stock getting hit by bears, and Tesla options traders ahead of earnings.
  

The Dow Jones Industrial Average (DJIA - 20,619.77) touched a new all-time intraday high of 20,639.87, and ended 7.9 points, or 0.04%, higher. Of the 30 Dow stocks, 15 ended higher, with CSCO's 2.4% gain leading the way. The 15 losers were paced by Chevron Corporation (NYSE:CVX), which fell 1.7%.

The S&P 500 Index (SPX - 2,347.22) dropped 2 points, or 0.1%, after notching a new intraday high of 2,351.31. Meanwhile, the Nasdaq Composite (COMP – 5,814.90) dropped 4.5 points, or 0.1%, after hitting an all-time intraday peak of 5,835.15.

After being up 7.4% in intraday action, the CBOE Volatility Index (VIX - 11.76) settled down 0.2 point, or 1.8%.

5 Items on Our Radar Today

1. Snapchat parent Snap Inc. set the target range for its initial public offering (IPO) at $14 to $16 per share, creating a top-end valuation of roughly $22 billion. The stock is set to begin trading in early March on the New York Stock Exchange under the ticker SNAP. (Los Angeles Times)
2. TransCanada Corporation (USA) (NYSE:TRP) filed its application to route the Keystone XL pipeline through the state of Nebraska, after President Trump gave the thumbs up on the controversial project last month. (Reuters)
3. How options traders are lining up their bets on Tesla Inc (NASDAQ:TSLA) ahead of earnings.
4. The case for buying GoPro Inc (NASDAQ:GPRO).
5. Why option traders are the most bearish in a year towards this rental car stock.

Data courtesy of Trade-Alert

Commodities

March-dated crude futures added 25 cents, or 0.5%, to settle at $53.36 per barrel, amid optimism that global oil producers will extend their output agreement past June.

April-dated gold futures tacked on $8.50, or 0.7%, to close at $1,241.60 an ounce -- a three-month high. The precious metal was boosted by a declining U.S. dollar and potential political risk in the U.S. and Europe.

Get your daily dose of Dow futures, stock news, and more with Schaeffer's Opening View.

Dow Jones Industrial Average (DJIA) futures are trading well below fair value this morning, putting the Dow's win streak in jeopardy ahead of the long Presidents Day weekend. Stocks may fall victim to a round of profit-taking after a huge week, especially with little in the way of economic data to provide a catalyst. Traders are digesting some major M&A news, however, with Kraft Heinz Co (NASDAQ:KHC) reportedly making an unsuccessful buyout offer for consumer goods giant Unilever plc (ADR) (NYSE:UL). Meanwhile, an impressive earnings report is boosting Deere & Company (NYSE:DE) ahead of the open. 

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

• The small-cap indicator nearing extreme levels.
• How Wall Street is playing NVIDIA Corporation's (NASDAQ:NVDA) and Tesla Inc's (NASDAQ:TSLA) pullbacks. 
• 3 healthcare stocks that may be vulnerable to downgrades. 
• Plus, Deere's big move, the Dow component in the DoJ's cross hairs, and Carl Icahn's bad morning. 

Futures on the Dow Jones Industrial Average (DJIA) are 72 points below fair value. 

5 Things You Need to Know Today
  

1. The Chicago Board Options Exchange (CBOE) saw 952,816 call contracts traded on Thursday, compared to 510,622 put contracts. The resultant single-session equity put/call ratio dipped to 0.54, while the 21-day moving average moved down to 0.67.
2. DE is ready to open at record-high levels, up 3.2% in electronic trading, after the company posted better-than-expected fourth-quarter results, while raising its full-year outlook. The shares are already up 34% year-over-year, yet many on the Street are bearish on DE shares. 
3. Dow stock UnitedHealth Group Inc (NYSE:UNH) is off 2% in pre-market trading, after the Department of Justice filed a lawsuit against the company, claiming it allowed subsidiaries to overcharge for Medicare. Even if the losses come to fruition, UNH shareholders can't be too upset. The shares are up 38% in the past 12 months, and hit a record high of $164.97 just yesterday. 
4. Another pre-market loser is Hertz Global Holdings, Inc. (NYSE:HTZ), with the car rental specialist getting downgraded at Credit Suisse to "underperform" from "neutral," while seeing its price target slashed to $15 from $27 -- in multi-year low territory. The shares have been falling fast since peaking above $53 in July, closing Thursday at $21.66 -- bad news for activist investor Carl Icahn. 
5. Bloomin' Brands (BLMN), Campbell Soup (CPB), J.M. Smucker (SJM), and VF Corp (VFC) will wrap up the week's earnings calendar, while retail earnings dominate next week's agenda. 

Overseas Trading

Stocks in Asia ended lower, with shares of Korea-based Samsung in focus, after CEO Jay Lee was arrested on corruption charges. The electronics stock lost 0.4%, contributing to a roughly 0.1% dip in South Korea's Kospi. Elsewhere, Japan's Nikkei shed 0.6%, dragged down by a stronger yen, as well as a more than 9% loss in Toshiba shares -- though Sharp added nearly 3%, following upwardly revised guidance. Rounding things out, China's Shanghai Composite dropped 0.9%, while Hong Kong's Hang Seng gave back 0.3%.

European markets are mixed, as traders keep an eye on the G-20 summit in Bonn, Germany, while digesting a series of earnings and economic reports. On the plus side, London's FTSE 100 is up 0.3%, boosted by huge gains in Unilever stock, after Kraft's proposed merger -- though it was declined. However, U.K. retail sales suffered a surprise drop last month, their third consecutive monthly decline. Meanwhile, France's CAC 40 is down 0.9%, and the German DAX is off 0.3%, despite post-earnings strength in shares of insurer Allianz, which raised its dividend and announced a buyback plan.

Stay on top of breaking stock market news with Schaeffer's Midday Market Check.

The Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq Composite (COMP) all hit record highs today, after Fed Chair Janet Yellen waxed optimistic about the economy during her congressional testimony. Of particular note, Yellen left the door wide open to a March rate hike. Dallas Fed President Robert Kaplan struck a similarly hawkish tone -- calling for a rate hike "sooner rather than later" -- though Atlanta Fed President Dennis Lockhart said he doesn't see "compelling reasons" for lift off just yet. With interest rates seemingly destined for a bump, though, financial stocks led the way higher, while rate-sensitive sectors like real estate and utilities struggled.

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

• "Buy the dip" on these 2 stocks, says Schaeffer's Senior Options Strategist Tony Venosa, CMT.
• 3 auto stocks taking traders on a wild ride.
• Yellen powered this financial ETF to nine-year highs, while these components flashed buy signals.
• Plus, a big bet on Freeport-McMoRan, key levels on Cisco, and Groupon earnings on deck.

The Dow Jones Industrial Average (DJIA - 20,504.41) settled at its highest mark of the day, adding 92.3 points, or 0.5%, to secure its fourth straight record close. Twenty-three of 30 Dow stocks ended higher, paced by JPMorgan Chase & Co.'s (NYSE:JPM) 1.6% advance. Of the seven losers, Verizon Communications Inc. (NYSE:VZ) was the worst performer, shedding 0.6%.

The S&P 500 Index (SPX - 2,337.58) added 9.3 points, or 0.4%, and settled at its loftiest level of the session. The Nasdaq Composite (COMP - 5,782.57) tacked on 18.6 points, or 0.3%, after earlier peaking at 5,783.09 . Both indexes notched their fourth consecutive closing highs, as well.

The CBOE Volatility Index (VIX - 10.74) slid 0.3 point, or 3%, for its lowest settlement since Jan. 27.

5 Items on Our Radar Today

1. Insurers Aetna Inc (NYSE:AET) and Humana Inc (NYSE:HUM) called off a $34 billion merger agreement, roughly three weeks after a federal judge sided with the Justice Department, blocking the deal on antitrust concerns. Per the agreement's terms, AET will pay HUM a $1 billion breakup fee. Meanwhile, CIGNA Corporation (NYSE:CI) just walked away from its proposed merger with Anthem Inc (NYSE:ANTM), and subsequently sued its rival for $13 billion. (Reuters; Business Insider)
2. Engaged Capital is pushing Rent-A-Center (NASDAQ:RCII) to sell itself, due to its sliding stock price. In a letter, the activist investor, which owns a nearly 13% stake in the rent-to-own business, accused RCII's board of being "asleep at the wheel as the operating performance of the company deteriorated over the past few years." (The Dallas Morning News)
3. The six-figure bearish options trade on Freeport-McMoRan Inc (NYSE:FCX).
4. Technical levels to watch ahead of Cisco Systems, Inc. (NASDAQ:CSCO) earnings.
5. Groupon Inc (NASDAQ:GRPN) traders are bracing for another sharp earnings swing.

Data courtesy of Trade-Alert

Commodities

An early rally in oil prices moderated, as the dollar strengthened on rate-hike chatter and concerns emerged that U.S. shale output could offset a global production cut among members and non-members of the Organization of the Petroleum Exporting Countries (OPEC). March-dated crude futures added 27 cents, or 0.5%, to settle at $53.20 per barrel.

Gold suffered its fourth straight daily loss, as a hawkish Yellen bolstered the dollar. By the close, April-dated gold futures were down just 40 cents at $1,225.40 per ounce.

Get your daily dose of Dow futures, stock news, and more with Schaeffer's Opening View.

Dow Jones Industrial Average (DJIA) futures are yet again trading above fair value, as stocks look to extend their string of record highs. Fed Chair Janet Yellen will again be speaking in front of Congress, after yesterday suggesting a rate hike was on the table for the Fed's March meeting. The consumer price index (CPI) and retail sales also highlight a day chock-full of economic data, with both readings rising faster than predicted in January. In stock news, traders are digesting the latest round of hedge fund investments, with Dow stock Cisco Systems, Inc. (NASDAQ:CSCO) scheduled to report earnings after the close.

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

• Is it time to buy Presidents Day puts? Schaeffer's Senior Quantitative Analyst Rocky White explains.
• Inside the booming demand for Freeport-McMoRan Inc (NYSE:FCX) put options. 
• Are analysts overlooking this soaring tech stock ahead of earnings tonight?
• Plus, Berkshire's huge Apple move, Groupon does it again, and the accessories stock getting pummeled. 

Futures on the Dow Jones Industrial Average (DJIA) are 35.6 points above fair value. 

5 Things You Need to Know Today
  

1. The Chicago Board Options Exchange (CBOE) saw 984,271 call contracts traded on Tuesday, compared to 518,164 put contracts. The resultant single-session equity put/call ratio dropped to 0.53, while the 21-day moving average stayed at to 0.67.
2. Apple Inc. (NASDAQ:AAPL) has been on a remarkable run in recent weeks, gaining almost 30% since its November low, as it pushes past the $700 billion market cap. The shares are set to flirt with record highs again today, following news that Warren Buffett's Berkshire Hathaway Inc. (NYSE:BRK.A) increased its position to more than 57 million shares from just over 15 million. 
3. After surging more than 6% yesterday,  Groupon Inc (NASDAQ:GRPN) is up another 11% in electronic trading, setting up another potential huge post-earnings swing. Traders are cheering stronger-than-expected earnings, as well as last night's news of a passive stake from Alibaba Group Holdings Ltd (NYSE:BABA). 
4. On the other hand, accessories specialist Fossil Group Inc (NASDAQ:FOSL) is set to sell off following the company's disappointing fourth-quarter revenue. The shares have so far dropped 20% in pre-market trading, which'll have them at seven-year lows. FOSL was already falling fast since its short-lived November rally. 
5. Some of the other items on today's economic calendar are the Empire State manufacturing survey, industrial production data, business inventories, the housing market index, regularly scheduled crude inventories, and Treasury International Capital (TIC) data. Applied Materials (AMAT), CBS (CBS), and TripAdvisor (TRIP) are some of the biggest names reporting quarterly results. 

Overseas Trading

It was a mixed finish for stocks in Asia as traders digested Yellen's first round of congressional testimony. Japan's Nikkei won back most of Tuesday's losses, climbing 1% on gains in bank stocks and a weakening yen, which overshadowed another hefty loss for Toshiba. Specifically, the shares dropped nearly 9% after Reuters reported the company would record a bigger-than-projected loss of $6.3 billion to its U.S. nuclear unit. Elsewhere in the region, Hong Kong's Hang Seng followed suit, adding 1.2%, while South Korea's Kospi tacked on 0.5%. China's Shanghai Composite bucked the trend, however, dropping 0.2% after five consecutive daily wins.

Markets in Europe were last seen modestly higher, as financial stocks climb on increasing odds of a U.S. interest rate hike next month. In economic news, U.K. unemployment remained at 4.8% in the fourth quarter -- the lowest level since 2005. Plus, the country saw a slight dip in wage growth and an uptick in consumer prices from December to January. London's FTSE 100 is up 0.5%, on track for a one-month closing high, while France's CAC 40 has also tacked on 0.5%, and Germany's DAX is lagging, up just 0.1%.

Stay on top of breaking stock market news with Schaeffer's Midday Market Check.