Futures on the Dow Jones Industrial Average (DJI) are poised for a modest drop this morning, giving back some of their earlier gains after another round of weekly jobless data showed a surprise jump. Claims rose to 419,000 last week, much higher than the 350,00 expected by analysts. The S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also struggling to maintain yesterday's positive price action, as Wall Street pores over another round of earnings reports. Elsewhere, the 10-year Treasury yield is looking at muted gains, fresh off yesterday's rise to 1.29%. 

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

• How options traders prepared for last night's Whirlpool earnings. 
• Should bulls consider Olympic Steel stock for their portfolio?
• Plus, 2 stocks sinking after earnings; and behind Biogen's beat-and-raise. 

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 1.5 million call contracts traded on Wednesday, compared to 734,820 put contracts. The single-session equity put/call ratio rose to 0.46 and the 21-day moving average stayed at 0.49.
2. Dove parent Unilever N.V. (NYSE:UL) is off 4.8% this morning, after the company said a sharp rise in commodity costs could negatively affect its full-year profit margins. This forecast weighed on an otherwise upbeat report, with UL posting better-than-expected profits and revenue for its second quarter.
3. D R Horton Inc (NYSE:DHI) is sinking 2.9% lower in pre-market trading, despite the homebuilding company posting a second-quarter earnings and revenue beat, as well as lifted full-year revenue guidance. The stock was last seen down 4.3%. 
4. Meanwhile, the shares of Biogen Inc (NASDAQ;BIIB) are slightly higher, up 1.1% in electronic trading, following the company's second quarter earnings and revenue beat. The firm also lifted its fully-year revenue estimate. 

5. Things will pick back up on Thursday, with initial and continuing jobless claims, existing home sales data, and the index of leading economic indicators. 

European Markets Rise on Euro Zone Update

Markets in Asia were higher across the board today. Led by Hong Kong's Hang Seng, the index finished with a 1.8% pop thanks to The Evergrande Group (EGRNF), which jumped 7.9% after solving a legal dispute. Elsewhere, China's Shanghai Composite added 0.3%, the South Korean Kospi gained 1.1%, and markets in Japan were closed for holiday.

European markets are on the rise as well, after the Euro zone's Central Bank held interest rates steady, but altered its guidance due to the rising inflation. As part of its Pandemic Emergency Purchase Program, the bank also committed to buying $2.2 trillion in bonds until March of next year. At last check, the German DAX is up 1%, the French CAC 40 is 0.7% higher, and London's FTSE 100 is posting a modest 0.04% gain. 

Markets are poised to extend their rally off Monday's trench, with futures on the Dow Jones Industrial Average (DJI) up 182 points, and the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) sporting notable pre-market gains of their own. The 10-year Treasury yield is continuing to rise too, last seen at 1.3%. Tech stocks are leading the way this morning, with better-than-expected earnings from several social media stocks, including Twitter (TWTR) and Snap (SNAP).

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

• How this blue-chip stock behaved before this morning's earnings report. 
• What might push Twitter stock even higher. 
• Plus, HON lifts forecast; INTC sinks despite earnings beat; and buyout buzz sends VNNE surging. 

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 1.3 million call contracts traded on Thursday, compared to 768,366 put contracts. The single-session equity put/call ratio rose to 0.57 and the 21-day moving average stayed at 0.49.
2. The shares of Honeywell International Inc (NASAQ:HON) are slipping today, last seen down 0.3%, despite the company reporting a second-quarter earnings and revenue beat, and lifting its full-year outlook. Honeywell cited strength across all its businesses. Year-over-year, HON is up 51.4%. 
3. Blue-chip tech name Intel Corporation (NASDAQ:INTC) is down 2.4% in electronic trading, after its latest forecast fell below some investors expectations, with the firm noting the world-wide chip shortage could be long-term. The company did post a fiscal third-quarter earnings and revenue beat, however. Year-to-date, the stock is up 12.7%. 
4. Sweden-based auto name Veoneer Inc (NYSE:VNE) is up 54.7% in electronic trading, amid news that the firm will be bought by Canada-based competitor Magna International in a $3.8 billion all-cash deal, which will aid in the firm's recent driver assistance technology developments. Magna (MG), meanwhile, is off 4.2% ahead of the bell. 

5. The week wraps up with the Markit manufacturing purchasing managers' index (PMI), as well as the services PMI. 

Earnings Season Gives European Markets a Boost

Markets in Asia were mostly lower today, with Japan's Nikkei closed for holiday. Hong Kong's Hang Seng dropped 1.5%, while China's Shanghai Composite shed 0.7%, after news that Beijing is considering further harsh penalities and even a forced delisting of rideshare name Didi (DIDI). Today's only winner, the South Korean Kospi, added 0.1%.

Meanwhile, European markets are higher across the board as earnings season picks up. The euro zone's flash purchasing managers index (PMI) for July showed business activity growth at its fastest in over 20 years, as countries reopen. London's FTSE 100 is posting a 0.8% gain after U.K. retail sales rose 0.5% in June, though the country's IHS Markit PMI dropped to 57.7 from 62.2 for the same month. Elsewhere, the French CAC 40 is up 1.1% at last check, and the German DAX has risen 1%. 

Stock futures are taking a breather this morning, with futures on the Dow Jones Industrial Average (DJI) pointed 104 points lower, and futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) both set to open squarely in the red. Investors are gearing up for a week packed with earnings reports from the tech sector, with Tesla (TSLA) prepared to push the first domino with its quarterly report after the close. The company also said late last week it will likely start reaccepting Bitcoin (BTC) as payment, causing the cryptocurrency to surge above the $3,900 level earlier on Monday, for the first time since mid-June.

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

• The gaming underdog bulls might want to reconsider. 
• A potential new law in China could make or break EDU. 
• Plus, TME hit with new restrictions; AMZN considers bitcoin; and HAS celebrates a top- and bottom-line beat. 

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 1.7 million call contracts traded on Friday, compared to over 1 million put contracts. The single-session equity put/call ratio rose to 0.61 and the 21-day moving average rose to 0.50.
2. News that regulators have made it illegal for Tencent Music Entertainment Group (NYSE:TME) to own exclusive rights to online music is sinking U.S.-listed shares. TME is down 9.7% in pre-market trading. The stock is off nearly 44% year-to-date. 
3. According to insider sources, Amazon.com, Inc. (NASDAQ:AMZN) is considering accepting bitcoin as payment on its website, as well as a new digital currency of its own creation. The company also recently listed an open position for a "cryptocurrency and blockchain lead." AMZN is up 0.5% ahead of the bell, and 12.3% in 2021. 
4. The shares of toymaker Hasbro, Inc. (NASDAQ:HAS) are up 3.6% in electronic trading, following a second-quarter earnings and revenue beat. The firm noted a rebound in its film and television-linked businesses, as well as strength for its Wizards division, which includes "Dungeons & Dragons." Today's pop has HAS set to topple its year-to-date breakeven level. 

5. Today's calendar will bring new home sales data for June. 

Government Restrictions Put Weight on Asian Stocks 

Markets in Asia mostly slipped today, with the exception of Japan's Nikkei, which closed with a 1% pop. Several Chinese companies are plummeting due to newfound fines and restrictions, which led Hong Kong's Hang Seng to wipe out its 2021 gains with a 4.1% drop. China's Shanghai Composite fell 2.3%, and the South Korean Kospi moved 0.9% lower.

Meanwhile, European markets are dropping off, as investors continue to monitor surging Covid-19 cases. The business climate index in Germany fell to 100.8 from June's 101.7, missing expectations of 102.1, showing a fall in business sentiment. The German DAX is down 0.3% at last check, while London's FTSE 100 and the French CAC 40 are both off 0.1% 

Stock futures are mostly lower this morning, with futures on the Dow Jones Industrial Average (DJI) pointed 120 points lower, and futures on the S&P 500 Index (SPX) sporting a shallow loss of its own. Nasdaq-100 Index (NDX) futures, meanwhile, are pointed flat. Investors seem to be largely overlooking a blowout earnings report from Tesla (TSLA), released after the close last night, though the equity itself is climbing. Even more powerhouse tech names are expected to report after the close this evening, including Apple (AAPL) and Microsoft (MSFT).

Wall Street is also looking ahead to the Federal Reserve's two-day policy meeting, which will begin later today. Elsewhere, S&P Case-Shiller home prices for May came in 16.6% higher year-over-year, as the housing boom continues to drag prices higher alongside subpar supply and surging demand.

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

• The semiconductor stock set for a major bounce. 
• Why SSTK could be headed for another earnings beat. 
• Plus, UPS falls short on domestic revenue; MMM enjoys a beat-and-raise; and INTC trying new tactics. 

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 1.8 million call contracts traded on Monday, compared to over 1.1 million put contracts. The single-session equity put/call ratio rose to 0.63 and the 21-day moving average stay at 0.50.
2. The shares of United Parcel Service, Inc. (NYSE:UPS) are off 6.9% in premarket trading after the company's second-quarter domestic revenue fell short of analysts' outlook. UPS' profits and overall revenue and profits did top expectations, but the firm noted e-commerce demand is still running high. Coming into today, UPS was up 24.6% year-to-date.
3. Meanwhile, blue-chip 3M Co (NYSE:MMM) is faring a bit better after it earnings report, but is still inching lower in electronic trading, down 0.8%, despite the firm's second-quarter earnings and revenue beat. The company also lifted its full-year forecast. MMM has added over 15% in 2021. 
4. Fellow Dow member Intel Corporation (NASDAQ:INTC) said it plans on rolling out a new chip each year from now until 2025, in an attempt to regain control of the semiconductor space. INTC is down 2.4% before the bell, chipping into its 9% year-to-date lead, coming into today. 

5. Today, durable goods orders and the July consumer confidence index will be due out.

Stocks in Hong Kong Continue to Slide

Markets in Asia settled on both sides of the aisle on Tuesday. Hong Kong's Hang Seng extended yesterday's steep losses, closing down 4.2%, as several stocks succumbed to pressure from new regulations. China's Shanghai Composite followed behind with a 2.5% drop, amid economic data showing industrial firms' profits jumping 20% year-over-year in June – a decline from the 36.4% rise in May. Elsewhere, Japan's Nikkei added 0.5%, while the South Korean Kospi ended with a 0.2% gain.

European markets are lower midday, as investors unpack a slew of corporate earnings. As Northern Europe still recovers from the recent flooding, Southern Europe saw wildfires across the region yesterday. At last check, London's FTSE 100 and the German DAX are both down 0.4%, while the French CAC 40 is 0.2% lower.