After markets made a frenzied push higher on Friday, stock futures appear unable to carry over the momentum into the new week. Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) futures are all signaling negative opens, as focus shifts back to the U.S.-China trade talks ahead of the Dec. 15 deadline for the Trump administration to hike tariffs on Chinese goods. Earlier this morning, Chinese officials expressed hope to make a deal "as soon as possible," which followed disappointing export data out of Beijing. Elsewhere, investors are also gearing up for the Fed meeting that kicks off tomorrow, with Fed Chair Jerome Powell set to speak on Wednesday.  

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

• The penny stock that's been red-hot in December. 
• Options bears are busy ahead of SFIX earnings report. 
• Plus, a big double upgrade for Qorvo; PG&E reaches settlement; Merck buys ArQule for $2.7 billion.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 1.2 million call contracts traded on Friday, compared to 642,603 put contracts. The single-session equity put/call ratio slipped to 0.53, while the 21-day moving average stayed at 0.59.
2. Qorvo Inc (NASDAQ:QRVO) stock is up 2.3% in electronic trading, after BofA-Merrill Lynch double-upgraded the Apple supplier to "buy" from "underpeform." The analyst in coverage anticipates a huge surge in demand for chips as 5G technology becomes more prevalent. QRVO nabbed an 18-year high of $107.57 on Friday, and is up over 75% in 2019.
3. PG&E Corporation (NYSE:PCG) stock is up 20.7% ahead of the bell, after the utility company reached a settlement with the 2017 and 2018 California wildfire victims for $13.5 billion. PCG briefly explored double-digit territory last week, and should today's result's hold, could close a mid-October bear gap.
4. The shares of Merck & Co., Inc. (NYSE:MRK) are up 0.5% in electronic trading, after the drugmaker acquired cancer drug developer ArQule (ARQL) for $2.7 billion, or $20 per AQRL share. MRK is also fresh off a 19-year high of $89.23 from Friday, with its 200-day moving average emerging as support the last three months.
5. Today's earnings will feature Adobe (ADBE), Casey's General (CASY), and Toll Brothers (TOLL). Also up are earnings from AutoZone (AZO), Conn's (CONN), Dave & Buster's (PLAY), Designer Brands (DBI), GameStop (GME), HD Supply (HDS), and Ollie's Bargain Outlet (OLLI).

Overseas Markets Struggling For Direction

There wasn’t a lot of movement in Asian equities. Most notable may have been the Nikkei’s 0.3% rise, after gross domestic product (GDP) data out of Japan topped expectations. The Shanghai Composite in China also grabbed a win, finishing up 0.08%,  as traders digested a drop in Chinese exports. Meanwhile, South Korea’s Kospi managed a 0.3% win, and Hong Kong’s Hang Seng settled with a marginal loss. 

Stocks in Europe are mostly lower halfway through the day. One name generating headlines is oil and gas stock Tullow Oil, as the shares sink after the company said it was suspending its dividend. Data out of Germany is also in focus, with exports rising in October. At last check, the FTSE 100 is down 0.07% in London, Germany’s DAX is off 0.2%, and France’s CAC 40 has dropped 0.5%.

The Dow Jones Industrial Average (DJI) is modestly lower today, as traders take a wait-and-see approach ahead of this week's Fed meeting. Headlines around a U.S.-China trade deal are also in focus, with the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) last seen lingering near breakeven as well. Despite the tepid price action, a sharp move higher in the Cboe Volatility Index (VIX) could suggest market volatility is picking up.

• Why Cowen's impressed with this retailer.
• Inside the surprising short interest data on Activision Blizzard.
• Plus, weeklies pop on cybersecurity stock; Virgin Galactic's bull note; and a healthcare stock sinking on a C-suite shake-up. 

One name seeing unusual options trading is CrowdStrike Holdings Inc (NASDAQ:CRWD), as the shares eye a fourth straight loss, down 2.3% at $49.75. The weak price action comes days after the post-IPO lock-up period ended. Traders may be closing positions at the weekly 12/13 50-strike put, while on the call side new positions are opening at the weekly 12/13 50 strike. Overall options volume on the cybersecurity specialist is already about to pass the daily average.

One of the best stocks today is Virgin Galactic Holdings Inc (NYSE:SPCE), as the shares of Richard Branson's space travel company rise 12.9% to $8.20. The price action comes after Morgan Stanley began coverage with an "overweight" designation and $22 price target, saying safety and partnerships are the keys to the company's success, and that even one successful flight this year could be a catalyst for the stock.

One of the worst stocks today is Tivity Health Inc (NASDAQ:TVTY), down 11% at $20.07, after the company said its relationship with President and COO Dawn Zier ended on Dec. 4. The shares are pacing to close below the 20-day moving average for the first time since October. 

The Dow kicked off the week with a triple-digit drop, snapping its three-day win streak. Apple (AAPL) dragged on the blue-chip index, as investors turned cautious ahead of a new round of U.S. tariffs on Chinese goods set to go into effect this Sunday, Dec. 15. Losses were contained, though, following comments from China's Assistant Commerce Minister Ren Hongbin that a partial U.S-China trade deal could be imminent. Elsewhere, the Trump administration and House Democrats are reportedly nearing a deal which would replace the North American Free Trade Agreement (NAFTA) with the United-States-Mexico-Canada Agreement (USMCA).

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

• Options bulls hold out hope for Peloton stock, despite holiday ad. 
• These 2 oil stocks could be perfect for options bears right now. 
• Plus, call traders storm GE, MU, and BABA; Merck stock pops; and the bear signal flashing for FDX stock. 

The Dow Jones Industrial Average (DJI - 27,909.60) lost 105.5 points, or 0.4%. Twelve of the 30 blue chips ended higher, with Home Depot (HD) in the lead on a 1.1% pop, while Apple (AAPL) sunk to the bottom on a 1.4% drop.

The S&P 500 Index (SPX - 3,135.96) fell roughly 10 points, or 0.3%, while the Nasdaq Composite (IXIC - 8,621.83) shed 34.7 points, or 4%. 

The Cboe Volatility Index (VIX - 15.86) added 2.2 points, or 16.5%. 

5 Items on Our Radar Today

1. Morgan Stanley (MS) announced today that it will be laying off approximately 2% of its employees, specifically those with technology and operations positions. According to reports, this decision has to do with an increasingly uncertain global outlook. (CNBC)
2. Marijuana name Canopy Growth (CGC) named David Klein, current chief financial officer (CFO) at Constellation Brands (STZ), as its new CEO. Klein will be replacing Mark Zekulin, effective Jan. 14 of next year. (MarketWatch)
3. 3 stocks being stormed by call traders right now. 
4. The blue chip making a splash in M&A headlines today.
5. FedEx stock could be in hot water this holiday season. 

There are no earnings of note today.

Oil Slips Over Demand Concerns 

Oil prices cooled after Friday's surge, as weak economic data out of China had some investors worried about demand, though some of these losses were offset by the potential U.S.-Mexico-Canada trade deal. January-dated crude futures lost 18 cents, or 0.3%, to settle at $59.02 per barrel.  

Gold prices were relatively static today, with traders looking ahead to this week's Fed meeting. February gold futures lost 20 cents, to settle at $1,464.90 an ounce. 

After markets snapped a three-day win streak yesterday, stock futures are reacting to a slew of trade-related headlines this morning. Dow Jones Industrial Average (DJI) futures were initially off triple-digits after the South China Morning Post suggested the chances of a U.S.-China trade deal this week are slim. However, futures quickly turned positive after the Wall Street Journal reported Washington is planning to delay additional tariffs on Chinese goods that were set to go into effect this Sunday, Dec. 15.

Elsewhere, the Fed's two-day policy-setting meeting kicks off later today, though no rate cut is expected. Plus, House Democrats and President Donald Trump are reportedly finalizing the United States-Mexico-Canada Agreement (USMCA), a trade deal to replace the North American Free Trade Agreement (NAFTA). 

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

• Schaeffer's Senior V.P. of Research Todd Salamone outlines why this December could be different for stocks.
• Options traders have been blasting these three high-profile stocks.
• Plus, AutoZone scores big earnings beat; NFLX downgraded on competition concerns; and Stitch Fix avoids quarterly loss.  

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 918,373 call contracts traded on Monday, compared to 587,258 put contracts. The single-session equity put/call ratio climbed to 0.64, while the 21-day moving average stayed at 0.59.
2. AutoZone, Inc. (NYSE:AZO) stock is up 5.7% in electronic trading, after the car parts retailer reported fiscal first-quarter earnings and revenue that topped analyst forecasts. AZO is primed to open at record-high levels, and had already gained 39.4% year-to-date heading into today.
3. Netflix Inc (NASDAQ:NFLX) stock is down 2.4% ahead of the bell, after Needham cut its rating to "underperform" from "hold." The brokerage firm anticipates subscriber loss amid a crowded streaming market. This is the second downgrade in roughly two weeks for the FAANG stock, which is staring up at resistance at its 140-day moving average.
4. The shares of Stitch Fix Inc (NASDAQ:SFIX) are up 10.2% ahead of the bell, after the e-tailer broke even for its fiscal first quarter, toppling the consensus estimate for a per-share loss of 6 cents. Six brokerages have issued price-target hikes already, the highest coming from SunTrust Robinson to $38 from $36. SFIX is set to extend its lead over previous resistance at its 160-day trendline, and open at its highest point since late July.

5. Monthly auto sales will be released today. AeroVironment (AVAV), Marvell Technology (MRVL), Salesforce.com (CRM), Workday (WDAY), and Zscaler (ZS) will report earnings.

Overseas Markets Digest Various Economic Data

Similar to the action in the U.S. on Monday, there was little movement in Asian stocks, with the major indexes settling near breakeven. Economic data was in focus in China, where consumer inflation picked up in November, with the Shanghai Composite closing up 0.1%. The Hang Seng, however, dropped 0.2%, and Japan’s Nikkei fell 0.09% despite a strong day for Nintendo stock. Finally, South Korea’s Kospi closed up 0.5%.

In Europe, stocks are moving lower. Traders are considering a tepid October gross domestic product (GDP) update out of the U.K, and the London FTSE 100 is down 0.9% as a result. France’s CAC 40 is also moving lower, down 0.7%, as Sanofi shares make another big move, this time to the upside. Meanwhile, the German DAX is struggling the most, down 1.4%. 

It's another day of weak price action for stocks on Wall Street, with traders mostly holding tight ahead of tomorrow's Fed decision. Ahead of the opening bell, it looked as though apparent headway in U.S.-China trade relations could lift stocks, but the risk-off sentiment has remained. The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are essentially flat at the halfway point, while the Nasdaq Composite (IXIC) outperforms slightly thanks to some big moves from drug stocks.

• 3 restaurant stocks with bull notes.
• Traders are rushing Stitch Fix after earnings.
• Plus, traders bet against cooling CVS; gene therapy stock jumps; and bluebird rises.

One name seeing unusual options trading is CVS Health Corp (NYSE:CVS), as the stock slumps 2.8% to $72.93, breaking support at the 20-day moving average. Put volume is running at twice the expected clip, and there are new positions opening at the December 73 put. Those buying the contract are expecting more downside in the coming weeks. CVS shares hit a new 52-week high of $77 just two weeks ago, and their 14-day Relative Strength Index (RSI) has been moving lower out of overbought conditions since that time.

One of the best stocks today is Magenta Therapeutics Inc (NASDAQ:MGTA), thanks to a gene therapy breakthrough. The shares have gained 16.6% to trade at $14.92, putting them on pace for their highest close since June. MGTA is now up 161% on a year-to-date basis.

Another healthcare stock on the rise is bluebird bio Inc (NASDAQ:BLUE), last seen 8% higher at $82.72. This comes after the drugmaker last evening presented data for its CAR-T cell therapy in patients with multiple myeloma, and Jefferies suggested that even higher doses of the treatment could result in better data down the road. BLUE shares are still fairly close to 52-week-low territory, though, and the 50-day moving average remains a level of chart resistance.

The Dow explored a 145-point trading range today, before settling south of breakeven, as Wall Street proceeded with caution ahead the Dec. 15 deadline when the U.S. is expected to lift tariffs on some Chinese goods. A report from The Wall Street Journal indicated that these looming tariffs could be delayed, even as separate headlines suggested a phase-one trade deal between the two sides may not be reached this week. Elsewhere, traders eyed the start of the Fed's two-day policy meeting, which kicked off today, though the central bank is expected to hold steady on interest rates. 

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

• This pharma stock's rally could have legs, if history is any indicator. 
• Options bulls see a strong finish to 2019 for Comcast stock. 
•  Plus, INFO could head even higher; this FAANG stock was downgraded again; and SFIX enters the earnings arena. 

The Dow Jones Industrial Average (DJI - 27,881.72) lost 27.9 points, or 0.1%. Fifteen out of the 30 blue chips ended higher. UnitedHealth (UNH) paced the winners with a 0.7% pop, while 3M (MMM) sunk to the bottom of the barrel on a 1.3% drop.

The S&P 500 Index (SPX - 3,132.52) fell roughly 3.4 points, or 0.1%, while the Nasdaq Composite (IXIC - 8,616.18) shed 5.6 points, or 0.07%. 

The Cboe Volatility Index (VIX - 15.68) slipped 0.2 point, or 1.1%. 

5 Items on Our Radar Today

1. Boeing (BA) announced a monthly rise in orders for its 737 Max airplanes for the first time since January, including two orders for 30 of the heavily scrutinized jets last month. This comes after the 737 Max jets were grounded earlier this year following a pair of fatal crashes, resulting in 84 lost orders so far in 2019. (CNBC)
2. Exxon Mobil (XOM) was cleared of charges brought against it by the state of New York, which accused the oil company of misleading investors on the cost of climate change regulations, causing them to lose $1.6 billion. The firm called the investigation "baseless," with spokesperson Casey Norton adding that "we provided our investors with accurate information on the risks of climate change." (Reuters)
3. The analytics name that could clock its 12th straight monthly win. 
4. Put traders bombarded this FAANG stock after yet another downgrade. 
5. How SFIX stock fared after today's earnings report. 

Gold Gains as Dollar Cools

Oil eked out a win today, as traders eyed conflicting U.S.-China trade headlines. January-dated crude futures added 22 cents, or 0.4%, to settle at $59.24 per barrel.  

Gold prices closed higher as the U.S. dollar cooled. February gold futures added $3.20, or 0.2% to settle at $1,468.10 an ounce. 

Wall Street struggled to gain momentum yesterday, and today's price action could be more of the same. Dow Jones Industrial Average (DJI) futures are churning slightly below fair value, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are signaling modestly higher opens. There's caution ahead of this afternoon's policy decision from the Fed, with rates largely expected to remain unchanged. Fed Chair Jerome Powell will also speak at 2:30 p.m. ET, and investors will be looking for clues about upcoming monetary policy. Elsewhere, November's consumer price index (CPI) rose 0.3%, greater than the expected 0.2% climb. 

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

• Schaeffer's Senior Quantitative Analyst Rocky White gives the best stocks to end the decade.
• Broadcom stock is set to test new highs.
• Plus, GameStop sinks after earnings; C-suite shakeup at Dropbox; and Citron lashes out at Peloton.  

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 841,582 call contracts traded on Tuesday, compared to 643,178 put contracts. The single-session equity put/call ratio climbed to 0.76, while the 21-day moving average inched up to 0.60.
2. GameStop Corp. (NYSE:GME) stock is down 19.2% in electronic trading, after the video game retailer reported an unexpected third-quarter loss and revenue that fell short of expectations. Same-store sales also came in below estimates, and the company cut its full-year profit forecast, prompting at least three price-target cuts. GME is set to erase all of its quarterly gain.
3. Dropbox Inc (NASDAQ:DBX) stock is down 2.5% ahead of the bell, after the company announced Chief Customer Officer Yamini Rangan will step down, effective Jan. 3. DBX is set to open near its Aug. 15 record low of $17.20.
4. The shares of Peloton Interactive Inc (NASDAQ:PTON) are down 1.9% before the bell, after Citron Research set its 2020 target price at $5 -- well below last night's close at $32.78. The notorious short seller said the bike maker has been "overly promotional," and has "all the makings of a compelling short." PTON has been in focus lately in the aftermath of the company's highly scrutinized holiday ad.

5. Today also brings weekly crude inventories. American Eagle Outfitters (AEO), Children's Place (PLCE), Lululemon (LULU), Tailord Brands (TLRD), United Natural Foods (UNFI), and Vera Bradley (VRA) will report earnings.

Asian Markets Climb; Cautious Trading in Europe

Stocks in Asia were mostly higher today. Starting in China, the Shanghai Composite managed a 0.2% win as investors considered a potential delay in tariffs from the U.S. The Hang Seng also climbed, ending up 0.8%. In South Korea, the Kospi settled up 0.4%, while Japan’s Nikkei was the lone loser, dipping 0.08%. 

Trading has been cautious so far today in Europe. Sunday’s tariff deadline, today’s Fed decision, and Thursday’s election in the U.K. are also giving investors pause, keeping the FTSE 100 and French CAC 40 near breakeven. The DAX in Germany has managed to break free a bit, however, rising 0.4%. 

While the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) follow this week's flat trading action, the Dow Jones Industrial Average (DJI) is underperforming due to weakness in Boeing (BA) and Home Depot (HD) shares. Semiconductor stocks in particular have been a strong point today, though traders have mostly stayed on the sidelines ahead of this afternoon's Fed decision and, maybe more importantly, Chair Jerome Powell's press conference.

• Bullish attention keeps coming for one outperforming drugmaker.
• Beyond Meat's big move.
• Plus, Monster calls fizzle during breakout; Ollie's rises post-earnings; and a CEO surprise sends CMCO lower.

One name seeing unusual options trading is Monster Beverage Corp (NASDAQ:MNST). The beverage stock is trading up 1.1% at $62.20, extending its recent run higher, and some traders seem to be speculating on more upside. Call volume is already at four times the daily average, due to new positions being opened at the December 63 call. Anyone buying the contract is expecting MNST shares to push above $63 before the options expire next Friday, Dec. 20.

One of the best stocks today is Ollie's Bargain Outlet Holdings Inc (NASDAQ:OLLI), as the shares try to battle out of 52-week-low territory, with today's 16.9% surge putting them at $70.46, on pace for the highest close since August's bear gap. The retailer last evening reported third-quarter results that surpassed expectations.

One of the worst stocks today is Columbus McKinnon Corp. (NASDAQ:CMCO), last seen down 10% at $37.99. The company surprised investors with news its CEO Mark Morelli will resign in January. At the same time, CMCO shares are still up more than 25% year-to-date, and seem to be finding support today from the 200-day moving average.

The Dow waffled again today, eventually settling in positive territory, as Wall Street kept its eye on the Fed meeting. The central bank as expected said it would hold interest rates steady for the time being, hinting that no changes in monetary policy may be needed for some time given how low inflation has remained. While the Nasdaq managed to outperform on strength from chip stocks, the S&P mostly followed the Dow's lead, trading flat for most of the session.

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

• The blue chip stock traders might want to target before the year's end. 
• What options players are saying about this retailer ahead of earnings.  
• Plus, STMP stock could keep surging; behind FTSV stock's impressive rally; and MA stock gets a bull note. 

The Dow Jones Industrial Average (DJI - 27,911.30) added 29.6 points, or 0.1%. Of the 30 blue chips.14 ended higher, with United Tech (UTX) in the lead with a 1.3% pop, while Home Depot sank to the bottom on a 1.8% drop.

The S&P 500 Index (SPX - 3,141.63) settled 9.1 points, or 0.3% higher, while the Nasdaq Composite (IXIC - 8,654.05) tacked on 37.9 points, or 0.4%. 

The Cboe Volatility Index (VIX - 14.99) slipped 0.7 point, or 4.4%. 

5 Items on Our Radar Today

1. Twitter (TWTR) CEO Jack Dorsey just announced a new research team, Bluesky, which he says will work towards an "open and decentralized standard for social media." He hopes the team of five will be able to address some of the site's current issues and create open channels of communication, no matter what the network. (CNBC)
2. A blog post from YouTube's vice president for trust and safety today outlined a stricter anti-harassment policy, which will include updated methods in which to flag comments deemed as harassment, and more serious consequences for those who continue to engage in these types of bullying behavior. (MarketWatch)
3. 3 reasons to love Stamps.com stock right now. 
4. Behind one pharma stock's unbelievable two-month rally. 
5. The bull note that gave Mastercard stock a boost today. 

Oil Sinks on Surprise Crude Inventory Build

A bigger-than-expected spike in weekly U.S. crude inventories knocked oil prices lower today. January-dated crude futures lost 48 cents, or 0.8%, to settle at $58.76 per barrel.  

Gold prices explored both sides of breakeven as investors eyed today's Fed meeting results, before eventually settling higher, as the U.S. dollar cooled. February gold futures added $6.90, or 0.5% to settle at $1,475 an ounce. 

After the Fed kept interest rates steady yesterday, stock futures are drifting lower this morning. Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) futures are all signaling slightly lower opens, as investors turn their eyes away from the Fed and back to U.S.-China trade drama. Reports indicate President Donald Trump will meet with his top trade advisors today as the Dec. 15 deadline for additional U.S. tariffs on more Chinese goods looms. Elsewhere, the producer price index came in flat for November, lower than the expected 0.2% increase, while weekly jobless claims jumped to a two-year high last week. 

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

• 3 reasons we're targeting a triple for Stamps.com.
• Mastercard stock picked up a big bull note yesterday.
• Plus, GE upgraded; LULU dinged after weak guidance; and Delta ups profit forecast.  

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 1.05 million call contracts traded on Wednesday, compared to 552,622 put contracts. The single-session equity put/call ratio slipped to 0.52, while the 21-day moving average fell to 0.59.
2. General Electric Company (NYSE:GE) stock is up 3.6% in electronic trading, after receiving an upgrade to "buy" from "neutral" at UBS. While also upping its price target to $14 from $11.50, the analyst in coverage sees better industrial cash flow creating a positive inflection point in 2020. GE is up 50% year-to-date, and call traders have been targeting the stock.
3. Lululemon Athletica Inc (NASDAQ:LULU) stock is down 3.3% ahead of the bell today. Despite the athleisure retailer reporting third-quarter earnings and revenue that topped forecasts, its current-quarter guidance was far below expectations. That hasn't stopped nine brokerages from upping their price targets, though, including Susquehanna to $260. 
4. The shares of Delta Air Lines, Inc. (NYSE:DAL) are up 2.1% before the open, after the airliner upped its 2020 profit forecast. The company also announced an equity stake in private jet airliner Wheels Up. Delta stock is currently holding above the $55 area, also home to its 10% year-to-date level. 

5. Taking a turn in the earnings confessional will be Broadcom (AVGO), Ciena (CIEN), Costco (COST), and Oracle (ORCL).

Asian Markets React to Fed News; Europe Eyes U.K. Elections

Stocks in Asia were mostly higher after the Fed decision in the U.S. However, China’s Shanghai Composite snapped its five-day win streak with a 0.3% loss. Among the winners, the Kospi in South Korea had the best day grabbing a 1.5% win, while Hong Kong’s Hang Seng wasn’t far behind with its 1.3% gain. Japan’s Nikkei also rose, adding 0.1%. 

In Europe, shares are mostly struggling for upside today, though London’s FTSE 100 is outperforming with a 0.4% gain. Traders are watching the general elections in the U.K., while European Central Bank (ECB) President Christine Lagarde will also give her first press conference in the role after the central bank left rates unchanged. Elsewhere, the French CAC 40 is down 0.08%, and the DAX in Germany has dipped 0.05%. 

Stocks are spiking today thanks to bullish trade developments. First, President Donald Trump tweeted that the U.S. and China were "VERY close" to a "BIG DEAL," and fresh reports suggest the Trump administration is willing to cut existing tariffs on China along with canceling Sunday's deadline for more tariffs. The Dow Jones Industrial Average (DJI) is sporting a triple-digit lead at the halfway point as a result, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also on the rise. As such, not much attention has been paid to this morning's two-year high in initial jobless claims.

• Why one drug stock's move may not have been enough.
• Another bull note for Starbucks.
• Plus, AutoDesk options pick up; Ciena shares manage to rally; and Lovesac sinks.

One name seeing unusual options trading is Autodesk, Inc. (NASDAQ:ADSK). The stock is down 1.4% at $177.13, just a few days after its all-time peak of $181.55, and call and put volume are both running hot. There's been heavy trading at the December 190 call, which was home to peak open interest coming into today, while put traders are opening positions at the January 2020 175-strike put.

One of the best stocks today is Ciena Corporation (NYSE:CIEN), with the shares overcoming pre-market losses to jump 13.6% to $40.24, despite a fourth-quarter profit miss. This has CIEN above its 80-and 200-day moving averages -- and maybe more importantly -- the $40 level, which has been both support and resistance in the past year.

One of the worst stocks today is customization furniture specialist Lovesac Co (NASDAQ:LOVE), down 12.3% at $12.72 on the company's bigger-than-expected quarterly loss. The shares earlier touched an all-time low of $12.36, and their six-month decline is now 58%. Interestingly, all four analysts in coverage have "strong buy" ratings.

The Dow shot up to a new high in early action, as Wall Street excitedly eyed trade developments between the U.S. and China. Today's events were initially sparked by a tweet from President Donald Trump that a trade deal was close, which was then followed by a report that U.S. negotiators have drawn up the terms of a "phase one" trade deal, which is pending Trump's approval. Against this backdrop, the S&P and Nasdaq also clocked record highs in intraday action, with all three indexes erasing their week-to-date deficits.

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

• One bull is targeting a massive rally for gold.
• The rare upgrade that gave this former Dow stock a leg up. 
• Plus, Canopy launches CBD brand; bears blast ORCL stock; and EA stock runs into trouble. 

The Dow Jones Industrial Average (DJI - 28,132.05) added 220.8 points, or 0.8%. Of the 30 blue chips, 27 ended higher, with Cisco Systems (CSCO) in the lead with a 3.1% pop, while Boeing (BA) sank to the bottom on a 1.1% drop.

The S&P 500 Index (SPX - 3,168.57) settled 26.9 points, or 0.9% higher, while the Nasdaq Composite (IXIC - 8,717.32) tacked on 63.3 points, or 0.7%. 

The Cboe Volatility Index (VIX - 13.94) slipped 1.1 points, or 7%. 

5 Items on Our Radar Today

1. Facebook (FB) is under fire yet again, after reports came out that the Federal Trade Commission (FTC) is mulling a preliminary injunction that would bar the social media giant from controlling the way certain apps, including WhatsApp and Instagram, interact with one another and potential competitors. (CNBC)
2. Amazon (AMZN) just announced its calendar cutoff dates, for those looking to get in some last-minute shopping on the e-commerce giant. One option allows Amazon Prime members to order on Dec. 24, and receive their package on Christmas Eve. (MarketWatch)
3. The rebounding pot stock getting buzz after a CBD line launch. 
4. Behind the wild options trading surrounding ORCL stock ahead of earnings. 
5. Why it might be game over for EA stock's recent rally. 

Oil Pops on Trump Tweet, Saudi Aramco IPO

President Trump's optimistic tweet on trade, paired with the well-received initial public offering (IPO) of Saudi Arabia's oil refinery Saudi Aramco helped buoy oil prices today. January-dated crude futures added 42 cents, or 0.7%, to settle at $59.18 per barrel.  

Gold prices slid lower today as increasing optimism over the U.S.-China trade situation has investors shunning the commodity in favor of stocks. February gold futures shed $2.70, or 0.2% to settle at $1,472.30 an ounce.