The Dow exploded past the 25,000 level today, up over 300 points for its best close since mid-March. Bank stocks led the charge, and the 10-year Treasury yield rose on reports the European Central Bank (ECB) could unwind its bond-buying program this year. Although Alphabet (GOOGL) stock pulled back amid reports of an impending European Union (EU) fine, the tech-rich Nasdaq secured a third straight record close, as Tesla (TSLA) surged after a shareholder meeting.

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

• These stocks perform best after a Fed rate hike.
• 2 outperforming Amazon rivals with bargain-bin options.
• Speaking of Amazon, the e-commerce giant is now eyeing home insurance.
• Plus, 3 red-hot penny stocks; U.S. Steel's encouraging guidance; and the new shoe that boosted Under Armour.

The Dow Jones Industrial Average (DJI - 25,146.39) gained 346.4 points, or 1.4%, with 26 of the 30 blue chips closing with gains. Boeing (BA) had the best day, adding 3.2%, while General Electric (GE) paced the four losers with its 1.1% drop.

The S&P 500 Index (SPX - 2,772.35) gained 23.6 points, or 0.9%, and the Nasdaq Composite (IXIC - 7,689.24) surged 51.4 points, or 0.7%, for its highest close ever.

The Cboe Volatility Index (VIX - 11.64) shed 0.8 point, or 6.1%.

5 Items on Our Radar Today

1. Facebook (FB) stock suffered a third straight loss, amid reports the social media giant had multiple data-sharing partnerships with Chinese electronics companies that were flagged by U.S. intelligence. One agreement involves Huawei, a manufacturing firm deemed a national security threat. (New York Times)
2. Jonathan Bush, CEO of Athenahealth (ATHN), stepped down today effective immediately, amid controversy over reports of domestic abuse 13 years ago. The healthcare company is being courted by Elliott Management, and said it's exploring strategic alternatives, including a possible sale or merger. (CNBC) 
3. These 3 penny stocks surged on biotech news.
4. U.S. Steel stock got a lift from upbeat guidance.
5. The Rock's new shoe sent Under Armour stock to a record high.
   
   
   

Data courtesy of Trade-Alert

Oil, Gold Prices Give Back Leads

Oil prices slipped, as U.S. crude inventories rose by a surprising 2.1 million barrels last week. Analysts were expecting a weekly drop in supplies. July-dated crude futures gave back 79 cents, or 1.2%, to settle at $64.73 per barrel -- a nearly two-month low.

Despite trading higher for most of the day, gold prices fell as well, as a weaker greenback gave way to trade tensions ahead of the Group of Seven (G-7) summit. Gold futures for August delivery shed 80 cents to close at $1,301.40 an ounce.

The Dow finished higher today -- just shy of its second straight triple-digit gain -- but notched its best close since March 9, thanks to a strong showing from McDonald's (MCD). However, the blue-chip index stands alone in the winners circle today. Both the S&P 500 and Nasdaq saw their four-day winning streaks snapped, amid a sell-off from tech stocks and a pullback in the 10-year Treasury yield as traders eyed the Group of Seven (G-7) summit. Notable losers included FAANG stocks Facebook (FB) and Netflix (NFLX), the latter of which had helped power the tech-rich Nasdaq to three straight record closes. 

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

• The sentiment signal flashing for the first time in 2018.
• Why analysts more than halved their price target on this drug stock.
• Options traders piled on Five Below stock after earnings.
• Plus, a "strong sell" rating from Spruce Point Capital; a winning MOMO options trade; and a lesser-known energy stock to target.

The Dow Jones Industrial Average (DJI - 25,241.41) gained 95 points, or 0.4%, with 21 of the 30 blue chips closing with gains. McDonald's had the best day, adding 4.4%, while Intel (INTC) paced the nine losers with its 2% drop.

The S&P 500 Index (SPX - 2,770.37) gave back 2 points, or 0.1%, and the Nasdaq Composite (IXIC - 7,635.07) shed 54.2 points, or 0.7%.

The Cboe Volatility Index (VIX - 12.13) added 0.5 point, or 4.2%.

5 Items on Our Radar Today

1. According to a Reuters report, the U.S. Justice Department is looking into the proposed merger between T-Mobile (TMUS) and Sprint (S) and what a union would do to smaller wireless operators. T-Mobile offered $26 billion to buy Sprint. (Reuters)
2. The joint healthcare venture between Berkshire Hathaway, JPMorgan Chase, and Amazon took a step forward today, after Warren Buffett told CNBC that the CEOs of the trio have chosen a CEO. The decision will likely be announced within the next two weeks. (CNBC)
3. Why Spruce Point Capital issued a "strong sell" rating on Healthcare Trust of America stock.
4. How MOMO's earnings beat helped line subscribers' pockets.
5. Buy the dip on this energy stock.

Data courtesy of Trade-Alert

Oil, Gold Prices Inch Higher

Oil prices surged today, spurred by concerns about a drop in exports from Venezuela. Concerns also remain that the Organization of the Petroleum Exporting Countries (OPEC) may not roll back production caps at its upcoming meeting. July-dated crude futures gained $1.22, or 1.9%, to settle at $65.95 per barrel.

Gold prices also fared well today thanks to a weakening dollar, although gains were capped by the upcoming Fed meeting next Wednesday. Gold futures for August delivery added $1.60, or 0.1%, to close at $1,303 an ounce.

Futures on the Dow Jones Industrial Average (DJI) are pointed lower this morning, after U.S. President Donald Trump and French President Emmanuel Macron squared off on Twitter ahead of today's Group of Seven (G-7) summit. Following jabs from Trump on trade, Macron tweeted, "The American President may not mind being isolated, but neither do we mind signing a 6-country agreement if need be." Trump's tweets also took aim at Canadian Prime Minister Justin Trudeau ahead of the two-day G-7 meeting in Quebec, which will include leaders from Japan, Italy, the U.K., and Germany. The Nasdaq-100 Index (NDX) is also signaling a sharply lower open, on track to extend yesterday's tech sell-off.

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

• The energy stock sending up a bullish signal.
• How Schaeffer's subscribers won big on MOMO's earnings reaction.
• 2 telecom stocks slapped with analyst bear notes. 
• Plus, global stocks struggle; a new boss at Verizon; and Broadcom announces earnings.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.2 million call contracts traded on Thursday, compared to 656,252 put contracts. The single-session equity put/call ratio rose to 0.56, while the 21-day moving average remained at 0.58.
2. J.P. Morgan Securities upgraded DexCom, Inc. (NASDAQ:DXCM) to "overweight" from "neutral" and hiked its price-target to $115 from $80 early this morning. DXCM has been an outperformer, up 56% year-to-date as of last night's close at $89.49. The medical equipment concern is up 3% in electronic trading.
3. Shares of Verizon Communications Inc. (NYSE:VZ) are 1% lower in pre-market trading, after the company announced Ericsson vet Hans Vestberg as its incoming CEO, with a start date of Aug. 1. Today's early drop has VZ pulling back from a test of its overhead 200-day moving average, which has been emerging as resistance in recent months.
4. Broadcom Inc (NASDAQ:AVGO) is down 2.2% in electronic trading, after the company last night reported a fiscal second-quarter earnings beat, but warned that weakness in its wireless business will persist into the third quarter. AVGO has been rallying higher this month and recently surged above resistance at its 200-day moving average, pushing the stock's 14-day Relative Strength Index (RSI) to an overbought reading of 75 ahead of last night's results.
5. Aside from G-7 headlines, today is expected to be a quiet day, with no notable economic data or earnings set to report. 

Global Markets Struggle Ahead of G-7 Summit

It was a down day for Asian stock markets, as caution grew ahead of the meeting of G-7 leaders. Stocks in China especially struggled. Hong Kong’s Hang Seng fell 1.8%, with tech heavyweight Tencent sliding more than 3%. The Shanghai Composite, meanwhile, shed 1.4%, and in Japan, the Nikkei gave back 0.6%. Rounding out the region, the Kospi dipped 0.8% in South Korea.

European stocks are also struggling for upside today. Among individual movers, Deutsche Bank is in focus amid reports the company is considering a merger with Germany’s Commerzbank. Also out of Germany, investors took in lackluster industrial production data for April. Against this backdrop, the German DAX is down 0.5% at last check, France’s CAC 40 has dipped 0.01%, and London's FTSE 100 is fractionally higher.

Stocks are hovering near breakeven today, as traders try to make sense of a recent Twitter war between U.S. President Donald Trump and French President Emmanuel Macron. The two leaders took trade-related jabs at each other ahead of this weekend's Group of Seven (G-7) meeting, while Trump also called out Canadian Prime Minister Justin Trudeau.

Among the notable equity movers, Apple (AAPL) is retreating from yesterday's record high after the company reportedly warned suppliers about a sizable falloff in iPhone component orders. As such, the Dow Jones Industrial Average (DJI) is struggling to gain momentum, as is the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) -- though all three benchmarks are set for weekly wins.

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

• The company "revolutionizing fashion."
• 4 bank stocks hit with bear notes. 
• Plus, put players bet against chip stock; Quest Diagnostics gets another upgrade; and CFO split sinks Lumentum shares.

One name seeing heavy options activity today is chipmaker Marvell Technology Group Ltd. (NASDAQ:MRVL). While options sentiment has historically been bullish, Trade-Alert is highlighting buy-to-open activity at the July 19 put. For reference, MRVL stock is was last seen trading at $21.44, down 3.4% on the day to test the 50-day moving average yet again, so speculators foresee a sharp downturn from the equity in the weeks ahead.

Quest Diagnostics Inc (NYSE:DGX) is a notable winner on the New York Stock Exchange, following another bull note from analysts. Specifically, the security is up 2.1% at $109.81, pacing for its highest close since July, after William Blair raised its rating to "outperform." The healthcare stock has gained almost 22% since an October bottom near $90.

Over on the Nasdaq, optical components concern Lumentum Holdings Inc (NASDAQ:LITE) is trading lower following the departure of its chief financial officer (CFO). The shares were last seen down 4.7% at $58.25, but are seemingly seeing familiar support from the 200-day moving average. The equity has struggled since peaking at $74.40 back in early March.

Futures on the Dow Jones Industrial Average (DJI) are slightly higher, while the Nasdaq-100 Index (NDX) is signaling a lower open, as investors prepare for tomorrow's U.S-North Korea summit in Singapore. Traders are also digesting the weekend's unusually contentious Group of Seven (G-7) meeting in Canada. After trade tensions erupted between President Donald Trump and Canadian Prime Minister Justin Trudeau, Trump reneged on his endorsement of the group's communique. 

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

• Short this stock before the Fed meeting. 
• The drug stock that dropped on company layoff reports. 
• Facebook options bulls are eyeing new highs this summer.
• Plus, Workday's $1.55 billion deal; Jefferies swipes right on Match; and Disney announces an executive departure.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.01 million call contracts traded on Friday, compared to 606,198 put contracts. The single-session equity put/call ratio rose to 0.60, while the 21-day moving average remained at 0.58.
2. Software firm Workday Inc (NASDAQ:WDAY) announced that it will buy cloud services concern Adaptive Insights for $1.55 billion, just ahead of a planned initial public offering (IPO) that valued Adaptive at around $600 million. WDAY stock is up 21% year-to-date, but the shares are off about 1% ahead of the bell.
3. Match Group Inc (NASDAQ:MTCH) is up 4.6% in electronic trading after Jefferies upgraded the dating service stock to "buy" from "hold" and hiked its price target to $50 from $40. MTCH has been a long-term outperformer, gaining 137% over the past 12 months.
4. Walt Disney Co (NYSE:DIS) late Friday announced the end-of-year departure of animation chief and Pixar co-founder John Lasseter, who has been on a six-month sabbatical following some behavioral "missteps." DIS shares are fractionally lower in pre-market trading, after notching a rare close above their 200-day moving average to end last week.
5. Wall Street's schedule is light today, with no major economic reports due out and only Dave & Busters (PLAY) set to report earnings.

Upbeat Italian News Sends European Markets Higher

It was a mostly positive session for Asian stock markets, as traders looked past uncertainty on global trade and tense geopolitical conditions. Tech stocks were a major reason the region’s equity benchmarks were able to overcome the headwinds, and the financial sector was another bright spot. As such, Japan's Nikkei notched a 0.5% gain, and Hong Kong’s Hang Seng closed up 0.3%. South Korea’s Kospi had an even bigger day, adding 0.8%. The sole decliner was China’s Shanghai Composite, closing down 0.5%.

Stocks are also pacing for a winning day in Europe. Upbeat news out of Italy could have sparked the buying mentality, with reports indicating the country’s economic minister confirmed a commitment to the euro. Bank stocks throughout the eurozone are thus some of the best performers. Another name in focus is Germany-based Mercedes parent Daimler AG, with the shares down 2% after the company was accused of using improper technology to cheat emission standards. On the data front, investors digested a bigger-than-expected decline in factory output in the U.K. for April. Still, London’s FTSE 100 is up 0.7% at last check, while France’s CAC 40 and Germany’s DAX are both sporting 0.1% leads.

Stocks are cautiously higher today, as the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) were last seen trading modestly above breakeven -- though the former is pacing for its fourth straight win. Lingering headwinds from this weekend's Group of Seven (G-7) event are being compounded by uncertainty surrounding tomorrow's North Korea-U.S. meeting and an expected June rate hike out of this week's Fed meeting. But while the broader equities market struggles for big gains, the red-hot retail sector continues to outperform, evidenced by a new high from the SPDR S&P Retail ETF (XRT).

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

• Why this 3-D printing stock has doubled today.
• 2 reasons Baird is bullish on beaten down First Solar stock. 
• Plus, Apple options bull bets on a big breakout; Fitbit stock hits fresh highs; and the automotive stock getting crushed.

One options trader appears to be betting on a huge Apple Inc. (NASDAQ:AAPL) breakout. Data suggests one speculator bought to open 10,000 July 215 AAPL calls for 17 cents each. This would put the trader's cash outlay at $170,000 (contracts purchased * 100 shares per contract * premium paid), with the goal being that Apple stock will topple the $215 mark by the close on Friday, July 20, when the contracts expire. The shares would need to rally about 13% from their current perch at $190.35.

One notable winner from the New York Stock Exchange (NYSE) is Fitbit Inc (NYSE:FIT), as the shares rise another 7.4% to $6.82, thanks to the launch of the company's new tracker for kids. FIT stock is on pace for its highest close since its mid-December bear gap, though the shares are now bumping right up against the site of that gap.

Automotive seating expert Adient PLC (NYSE:ADNT) is the worst stock on the NYSE, after the company said its CEO quit and it dramatically lowered its full-year outlook. RBC jumped in with a price-target cut to $55 from $64, and ADNT stock has lost 16.7% as of last check to trade at $47.49. It touched an annual low earlier of $47.03, and continues to fall further from the October peak of $86.42.

The Dow closed higher today, but gains were held in check by bubbling trade-war tensions ahead of this weekend's Group of Seven (G-7) meeting. The tit-for-tat tariff issues between the U.S., Canada, and Europe will be in focus during the summit, and while President Donald Trump said Russia should be reinstated into the talks, French President Emmanuel Macron tweeted that the G-7 doesn't "mind signing a 6-country agreement if need be."

Investors also largely shrugged off the latest in special counsel Robert Mueller's Russia probe, after Mueller brought forth more indictments against ex-Trump campaign chief Paul Manafort and a Russian national. Nevertheless, the Dow locked up a third straight win and its highest close since March. All three benchmarks walked away with weekly wins as well.

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

• Short these stocks before the Fed rate hike.
• One analyst heaped praise on Eli Lilly stock.
• Foot Locker stock has room to run.
• Plus, FB options traders eye July highs; Monster Beverage hints at a price increase; and the worst stock to own after a rate hike.

The Dow Jones Industrial Average (DJI - 25,316.53) added 75.1 points, or 0.3%, and turned in a 2.8% gain for the week. Of the 30 blue chips, 21 closed with gains. Procter & Gamble (PG) had the best day, adding 1.9%, while Intel (INTC) paced the nine losers once again with its 1.5% drop. 

The S&P 500 Index (SPX - 2,779.03) added 8.7 points, or 0.3%, and tacked on 1.6% for the week. The Nasdaq Composite (IXIC - 7,645.51) added 10.4 points, or 0.1%. It gained 1.2% for the week.

The Cboe Volatility Index (VIX - 12.18) added 0.1 point, or 0.4%, but shed 9.5% for the week.

5 Items on Our Radar Today

1. In a surprise move, Verizon Communications (VZ) named Hans Vestberg the company's new CEO. Vestberg previously occupied the post of Chief Technology Officer. The appointment signals a pivot towards expanding the wireless company's 5G network technology. (Reuters)
2. According to sources, the European Union's antitrust regulators are poised to approve Comcast's (CMCSA) bid for European broadcast giant Sky. The approval sets the table for a showdown with 21st Century Fox (FOXA), which is attempting to sell assets in order to buy Sky. (Reuters)
3. Facebook's faithful options bulls targeted record highs in July
4. Monster Beverage's planned price hike sent the stock soaring today.
5. TripAdvisor stock has been the worst stock to own after Fed rate hikes.

Data courtesy of Trade-Alert

Oil, Gold Prices Creep Lower

Oil prices ended fractionally lower today, after JPMorgan cut its 2018 price forecast for West-Texas Intermediate (WTI) futures, citing less demand from China and increasing U.S. output. July-dated crude futures gave back 21 cents, or 0.3%, to settle at $65.74 per barrel. Black gold shed 0.1% for its third straight weekly decline. 

Gold prices inched lower today as well, due to a steadying dollar. Losses were limited, though, as concerns remain over global trade tensions. Gold futures for August delivery shed 30 cents, or 0.1%, to close at $1,302.70 an ounce. For the week, gold held on to a 0.3% advance.

Despite giving up most of its intraday gains by the close, the Dow locked up its fourth straight win today, matching its longest winning streak in about a month. The S&P 500 and Nasdaq joined the blue-chip benchmark in the black, despite a rocky Group of Seven (G-7) summit that fueled friction between the U.S. and Canada. Instead, traders are focusing on tomorrow's seismic North Korea-U.S. meeting between President Donald Trump and Kim Jong Un in Singapore. Also on investors' minds is the start of the Federal Open Market Committee (FOMC) meeting, where a rate hike announcement is expected Wednesday afternoon.

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

• Analyst: Sell this FAANG partner.
• Short this stock before a Fed rate hike.
• Piper Jaffray is buying Electronic Arts' "Battlefield" boost.
• Plus, a word of caution against NWL; why Seagate is overdue for upgrades; and the stock Citron thinks could double.

The Dow Jones Industrial Average (DJI - 25,322.31) added 5.8 points for its fourth consecutive gain. Of the 30 blue chips, 15 closed with gains. UnitedHealth (UNH) had the best day, adding 1.2%, while McDonald's (MCD) paced the 14 losers with its 1.4% drop. DowDuPont (DWDP) broke even.

The S&P 500 Index (SPX - 2,782) added 3 points, or 0.1%. The Nasdaq Composite (IXIC - 7,659.93) added 14.4 points, or 0.2%.

The Cboe Volatility Index (VIX - 12.35) added 0.2 point, or 1.4%.

5 Items on Our Radar Today

1. Wells Fargo has prohibited the purchase of cryptocurrencies through credit cards. The bank joins sector peers Citigroup, JPMorgan Chase, and Bank of America in limiting the purchase of the controversial digital currency. Elsewhere, Apple's updated guidelines for developers bans cryptocurrency mining.  (Yahoo! Finance; AppleInsider)
2. According to a member of the Securities and Exchanges Commission (SEC), many corporate executives are using the recent tax cuts and stock buybacks to line their own pockets. Share buybacks hit a record high in May, and SEC official Robert Jackson Jr. called for updated regulation in a speech today. (CNBC)
3. Think twice before buying Newell stock.
4. Outperforming Seagate Technology stock is ripe for upgrades.
5. Fitbit options traders reacted to Citron's bull note.

There are no earnings to report today.

Data courtesy of Trade-Alert

Oil, Gold Prices Creep Higher

Oil prices climbed today, erasing early losses after Iraq's oil minister cast doubts over a possible supply increase from the Organization of the Petroleum Exporting Countries (OPEC) at the cartel's meeting in two weeks. July-dated crude futures added 36 cents, or 0.6%, to settle at $66.10 per barrel.

Gold prices inched higher today, but traded within a tight range throughout most of the day, as investors eye both the North Korea summit and the start of the Fed meeting tomorrow. Gold futures for August delivery gained 50 cents, or 0.1%, to close at $1,303.20 an ounce.

Following the highly anticipated U.S.-North Korea summit, futures on the Dow Jones Industrial Average (DJI) and the Nasdaq-100 Index (NDX) are both trading flat. The historic meeting, which took place in Singapore, concluded with President Donald Trump and North Korean leader Kim Jong-Un signing a document wherein Pyongyang committed "to work toward complete denuclearization of the Korean Peninsula," though the agreement was light on details. Now, traders are bracing for the start of the two-day Federal Open Market Committee (FOMC) meeting, with policymakers expected to announce a rate hike tomorrow afternoon. 

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

• Why the odds of a post-Fed pullback are higher than usual, according to Schaeffer's Senior V.P. of Research Todd Salamone.
• Fitbit stock could double, says one notorious research firm.
• The luxury retailer flashing a short-term bearish signal.
• Plus, Dave & Buster's post-earnings surge; an "overweight" rating for Weight Watchers; and a mixed finish for Asian markets.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.03 million call contracts traded on Monday, compared to 558,167 put contracts. The single-session equity put/call ratio fell to 0.54, while the 21-day moving average remained at 0.58.
2. Dave & Buster's Entertainment Inc (NASDAQ:PLAY) is 14.2% higher in pre-market trading, after the company last night reported fiscal first-quarter results that surpassed forecasts. PLAY has been on a fresh trend higher since the end of May, but is still 13.3% lower year-to-date.
3. Also set to soar from a fiscal first-quarter earnings beat is home retailer RH (NYSE:RH), up 21% in pre-market trading. While revenue fell short of expectations, RH hiked its fiscal 2018 forecast. Just yesterday, RH stock touched a fresh record high of $119.75.
4. J.P. Morgan Securities this morning initiated coverage on Weight Watchers International, Inc. (NYSE:WTW) with an "overweight" rating and a $105 price target. WTW has been on a tear since early 2017, and is now up 218% year-over-year. The stock touched a record high of $88.44 last Thursday.
5. Aside from the start of the two-day FOMC meeting, today brings the consumer price index (CPI), the NFIB small business optimism index, and the Treasury budget. Casey's General Stores (CASY) and H&R Block (HRB) are scheduled to report earnings.

Trump-Kim Summit Pushes Asian Markets Higher

Asian stock markets traded mostly higher during the Trump-Kim meeting, though gains were somewhat limited across the board. China’s Shanghai Composite overcame early losses to rally to a 0.9% win, snapping a three-day losing streak in the process. Hong Kong’s Hang Seng also rose, finishing up 0.1%. In Japan, the Nikkei got a boost from a weakening yen and settled up 0.3%, while South Korea’s Kospi dipped 0.1%.  

There’s less enthusiasm in Europe, where major equity benchmarks are seeing weak price action at midday. After positive starts, London’s FTSE 100 and France’s CAC 40 were last trading down 0.2% and 0.1%, respectively. Germany’s DAX has also pulled back some from its opening move, but the index is sporting a fractional gain. Traders in the region also digested wage data out of the U.K., which was weaker than expected in April, while looking ahead to the upcoming European Central Bank (ECB) meeting.

Futures on the Dow Jones Industrial Average (DJI) are pointed modestly higher ahead of this afternoon's conclusion of the two-day Federal Open Market Committee (FOMC) meeting, with a rate hike expected to be announced. Traders are also digesting President Donald Trump's latest comments on yesterday's historic summit with North Korea, as Trump tweeted that Pyongyang is "no longer a Nuclear Threat [sic]." On the equity front, media and telecom stocks will be in focus today, after a federal judge late Tuesday cleared AT&T (T) to purchase Time Warner (TWX) for $85 billion.

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

• What small-cap leadership really means for stocks, according to Schaeffer's Senior Quantitative Analyst Rocky White.
• Call buyers pounced on soaring Snap stock.
• Analyst: Sell risky SeaWorld stock.
• Plus, Hershey stock plunges on analyst downgrade; HRB disappoints with weak full-year revenue; and Johnson & Johnson's $2.1 billion deal.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Tuesday, compared to 556,234 put contracts. The single-session equity put/call ratio fell to 0.50, while the 21-day moving average remained at 0.58.
2. Credit Suisse downgraded Hershey Co (NYSE:HSY) to "underperform" from "neutral" and cut its price target to $80 from $90, citing the global shift to e-commerce shopping as the catalyst. HSY has been on a long-term downtrend, most recently touching a fresh annual low of $89.12 on May 3. The chocolate maker is down 2% in electronic trading.
3. H & R Block Inc (NYSE:HRB) has plunged 19% in pre-market trading after the company issued a weak full-year revenue and margin forecast, which has overshadowed the tax preparer's fiscal fourth-quarter earnings and revenue beat. HRB has been on a recent surge higher, but is now set to gap below support at its 20-day and 50-day moving averages at the open.
4. Consumer goods giant Johnson & Johnson (NYSE:JNJ) is fractionally higher in electronic trading, after the company announced that it had accepted a $2.1 billion buyout offer from Platinum Equity for its LifeScan division. JNJ has been on a downtrend since early February, having shed 12.3% year-to-date as of Tuesday's close.
5. Today will mark the conclusion of the previously mentioned Fed meeting, capped off by the much-awaited 2 p.m. ET FOMC policy announcement, and a follow-up press conference from Fed Chair Jerome Powell. We've already gotten a fresh reading on the producer price index (PPI), with the MBA mortgage index and weekly crude inventories on deck. Tailored Brands (TLRD) will report earnings.

China Stocks Sink; European Markets Edge Higher

Stocks in China pulled back today, as traders braced for this week’s central bank announcements, while keeping an eye on global trade uncertainties. The Shanghai Composite fell 1%, and most sectors struggled -- though telecom stocks saw some of the sharpest declines as Shenzhen-based ZTE sold off. Hong Kong’s Hang Seng tracked these losses, closing down 1.2%. Also declining was South Korea’s Kospi, shedding 0.1%, but Japan’s Nikkei managed a 0.4% advance as Tokyo-listed equities got a boost from real estate and auto strength.

Turning to Europe, the major equity benchmarks are sporting mild gains at midday. Broadly speaking, stocks have overcome early deficits, with tech names leading the way. Some of the names making notable moves in London are online food ordering specialist Just Eat and mining juggernaut Glencore. The former is under pressure following expansion plans from rival Deliveroo, and the latter is gaining on restructuring details for a subsidiary. The U.K.'s FTSE 100 is trading up 0.5%, the German DAX has gained 0.4%, and France’s CAC 40 is 0.3% higher.

The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are hovering near breakeven today, though the tech-heavy Nasdaq Composite (IXIC) is pushing higher. For the most part, traders continue to digest the meeting between President Donald Trump and North Korea's Kim Jong-Un, and are taking a wait-and-see approach ahead of tomorrow's Fed announcement. In the meantime, Wall Street is considering the latest inflation data in the form of the consumer price index (CPI), which rose a year-over-year 2.8% in May -- the biggest increase since February 2012.

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

• The drug stock "overlooked by investors."
• Newest bull note sends Twitter shares to another high.
• Plus, protective puts popular on Kohl's; Weight Watchers soars (again); and a medical tech stock selling off.

One name seeing heavy options trading today is retail concern Kohl's Corporation (NYSE:KSS). Puts are trading at nearly two times the pace expected, due to interest in the January 2019 70-strike put, where more than 3,100 contracts have crossed, compared to just 525 at the next closest strike. With KSS stock trading at $77.89, putting it up more than 100% year-over-year, it's likely this activity comes from shareholders hedging to protect paper profits.

Weight Watchers International, Inc. (NYSE:WTW) is once again a major winner on the New York Stock Exchange (NYSE), as the stock's epic rally continues. A bull note from J.P. Morgan Securities has WTW shares up 5.2% at $91.38, and they hit an all-time high of $92.92 earlier in the session. The equity's year-over-year gain is north of 237%.

Meanwhile, medical technology stock Stryker Corporation (NYSE:SYK) is a notable loser on the NYSE, as the shares continue to fall following reports of a potential takeover deal with Boston Scientific (BSX). SYK stock is down 3% today at $164.77, putting it on pace for its lowest close since mid-April. Looking back, the 200-day moving average provided strong support during the security's last major pullback in February, but that closely watched trendline sits down at $157.74.

Extending what has been the theme all week, the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are failing to make a substantial move higher today. Focus remains on the recent meeting between the U.S. and North Korea, and the upcoming Fed decision, with the central bank fully expected to raise rates. The Nasdaq Composite (IXIC) is outperforming, however, and earlier hit another record high, thanks to strength out of tech and healthcare stocks. In fact, another positive finish would mark a fourth straight win for the index.

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

• An analyst just named their top telecom stock pick following the AT&T-Time Warner news.
• 2 reasons Goldman Sachs expects Netflix stock to surge.
• Plus, AMD stock surge draws June call buyers; a tech stock soaring after earnings debut; and the C-suite news sinking this industrial name.

One name seeing heavy options trading today is Advanced Micro Devices, Inc. (NASDAQ:AMD), as the chipmaker continues its recent surge higher -- and its propensity to rally in June. AMD stock is trading up 3.9% at $16.47, earlier hitting an 11-year high of $16.48, and call volume has already nearly surpassed the daily average. The most popular contracts are the June 15.50, 16, and 16.50 strikes, as traders seemingly believe more upside is ahead of the security. Advanced Micro has already added 82% since its early April low near $9.

One of the top stocks on the New York Stock Exchange is Pivotal Software Inc (NYSE:PVTL), thanks to the tech company's smaller-than-expected first-quarter loss, revenue beat, and and upbeat full-year outlook. A round of price-target hikes is only fueling the fire. PVTL shares have jumped 25.6% to trade at $26.65. They earlier topped out at $26.80, which is the highest they've traded since going public back on April 20.

Meanwhile, Chart Industries, Inc. (NASDAQ:GTLS) is sinking over on the Nasdaq. The industrial stock has dipped 7.3% at $67.62, after the company announced it has terminated former CEO William Johnson without cause, and he'll be replaced by Jillian Evanko. However, GTLS stock remains up 86% over the past year, and today's pullback is being contained by the 20-day moving average.