Futures on the Dow Jones Industrial Average (DJI) are signaling a roughly 350-point slide, after President Donald Trump continued to escalate trade war tensions with China, offering up yet another threat. Specifically, Trump threatened to implement a 10% tariff on $200 billion worth of China-made goods. Against this backdrop, futures on the Nasdaq-100 Index (NDX) are also set for a triple-digit drop, with trade-war concerns weighing heavy on chip and technology stocks.

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

• Don't miss this smart-money sentiment signal, per Schaeffer's Senior V.P. of Research Todd Salamone.
• 3 drug stocks that blasted higher.  
• Analyst: Why it's time to sell Disney stock.
• Plus, Deutsche Bank says buy this blue chip; accusations of sabotage at Tesla; and Amazon dives into hospitality. 

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.01 million call contracts traded on Monday, compared to 545,529 put contracts. The single-session equity put/call ratio fell to 0.54, while the 21-day moving average remained at 0.57.
2. Deutsche Bank upgraded Verizon Communications Inc. (NYSE:VZ) to "buy" from "hold," saying that while fundamentals have improved, the Dow stock's price action has not. The brokerage firm maintained its $56 price target, representing expected upside of 18% to last night's close at $47.46. On the charts, VZ stock has been chopping between its $200 billion market cap and negative 10% year-to-date return level since February.
3. Tesla Inc (NASDAQ:TSLA) CEO Elon Musk sent a staff email accusing an employee of "extensive and damaging sabotage." Musk reportedly learned about the alleged behavior over the weekend, which reportedly includes sending sensitive data to outside parties, but failed to name the person involved. TSLA stock is down 1.3% in electronic trading, and could be on track to snap its seven-day winning streak -- its longest since March 2016.
4. Amazon.com, Inc. (NASDAQ:AMZN) said it has teamed up with Marriott International (NASDAQ:MAR) to provide a special version of Alexa to guests staying in hotels. In response, AMZN is 1% lower in pre-market trading, but is still fresh off yesterday's record high of $1,726.74, and up 75% year-over-year.
5. Today marks the release of housing starts, and St. Louis Fed President James Bullard will speak in the morning. FedEx (FDX), La-Z Boy (LZB) and Oracle (ORCL) are scheduled to report earnings.

Asian Markets Fall Amid Trade Tensions

Asian stock markets got crushed amid the latest trade-related headlines. Chinese stocks suffered some of the sharpest losses, with exports -- namely Apple suppliers -- taking the brunt of the selling action. The Shanghai Composite ended the session down 3.8% and near two-year lows, while the Hang Seng shed 2.8% in Hong Kong. Investors there also digested news that smartphone maker Xiaomi has postponed an initial public offering in China. Turning to Japan, the Nikkei fell 1.8%, and in South Korea the Kospi closed down 1.5%.

European equities are joining the sell-off. Mining stocks, always sensitive to Sino-related headwinds, are experiencing heavy losses. Another big decliner is British designer Debenhams, due to the company’s full-year profit outlook. At last check, the German DAX and French CAC 40 were down 1.4% and 1.3%, respectively, and London’s FTSE 100 was down 0.6%.

Stocks are pulling back sharply today due to the most recent tariff threat out of the Trump administration. The Dow Jones Industrial Average (DJI) has shed more than 300 points -- putting it on pace for a sixth straight down day, which would mark its longest losing streak since March 2017. Upgraded Verizon (VZ) stock is one of only a handful of blue chips in the black, while Boeing (BA) and Caterpillar (CAT) pace the losers.

Heavy losses out of the tech sector are pressuring the S&P 500 Index (SPX) and Nasdaq Composite (IXIC), as well. Meanwhile, the Cboe Volatility Index (VIX) is on the rise, briefly topping the 14 handle for the first time since June 1.

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

• 3 FAANG stocks making headlines today.
• More downside could be ahead for this emerging markets ETF.
• Plus, big Halliburton call buyers; CVS stock delivers gains; and Snap shares pullback.

One name seeing heavy options trading today is Halliburton Company (NYSE:HAL). The oilfield services giant is down 0.6% at $46.34, set for a third straight close below its formerly supportive 200-day moving average, but options traders are betting on a rebound. More than 11,000 contracts have crossed at the August 50 call -- compared to around 1,000 at the next most popular option -- and data points to buy-to-open activity. These bulls are betting on HAL stock toppling the $50 mark before the calls expire in about two months.

Pharmacy stock CVS Health Corp (NYSE:CVS) is one of the few names posting gains on the New York Stock Exchange (NYSE), thanks to news the company's prescription delivery service is now available nationwide. CVS shares were last seen trading up 3.1% at $69.84, though this still leaves them below the $70 level that's acted as a ceiling since late February. Plus, the stock's 200-day moving average sits just overhead, and it remains in a longer-term downtrend that's been in place since the 2015 all-time high around $113.

On the flip side, Snap Inc (NYSE:SNAP) is a huge loser on the NYSE, down 7.5% at $13.00, following a price-target cut at Cowen. This would end a seven-session win streak for SNAP shares, which yesterday topped out near the newly formed 200-day moving average, also the site of its early May bear gap.

The Dow suffered a triple-digit loss today, extending its post-Fed skid to five days, as fears of a trade war with China linger. The blue-chip benchmark, which is now mired in its longest losing streak since April, was also dinged by rough days for newly downgraded Intel (INTC) and Walt Disney (DIS) stocks. The S&P 500 also finished lower, despite a solid day for oil prices and energy stocks, while the Nasdaq eked out an eleventh-hour win.

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

• FDA setbacks buried these 2 drug stocks.
• Analyst: The shift in China that will boost Nvidia shares.
• Buy puts on this retail stock, if history is any indicator.
• Plus, Google boosts JD.com; 3 surging drug stocks; and a FedEx earnings preview.

The Dow Jones Industrial Average (DJI - 24,987.47) shed 103 points, or 0.4%, for its fifth straight loss. Of the 30 blue chips, eight closed with gains. Chevron (CVX) had the best day, adding 1.6%, while Intel paced the 22 losers with a 3.4% drop.

The S&P 500 Index (SPX - 2,773.87) gave back 5.8 points, or 0.2%. The Nasdaq Composite (IXIC - 7,747.03) added less than 1 point.

The Cboe Volatility Index (VIX - 12.31) tacked on 0.3 point, or 2.8%.

5 Items on Our Radar Today

1. Xerox could be in hot water, after Fujifilm sued the company for over $1 billion in damages following a nixed merger between the two entities. Fujifilm posits that Xerox succumbed to comments from activist investor Carl Icahn, who had argued that the proposed merger undervalued Xerox. (CNBC)
2. Square obtained a so-called BitLicense in New York, allowing residents to buy and sell bitcoin through its app. Square is now the ninth tech firm to obtain such a license in the state. Square CEO Jack Dorsey recently commented that he is "a huge fan" of bitcoin. (Reuters)
3. JD.com stock was boosted by a Google investment.
4. These 3 drug stocks scaled the Nasdaq today.
5. Options traders blasted FedEx stock before earnings.

There are no earnings to report today.

Data courtesy of Trade-Alert

Oil, Gold Bounce Back

Oil prices rebounded slightly today, with help from an upbeat crude forecast from Goldman Sachs ahead of Friday's Organization of the Petroleum Exporting Countries (OPEC) meeting. July-dated crude futures added 79 cents, or 1.2%, to settle at $65.85 per barrel. 

Gold prices also gained today, as demand for safe-haven assets grew in step with escalating trade tensions. Gold futures for August delivery tacked on $1.60, or 0.1%, to close at $1,280.10 an ounce.

The Dow suffered its second straight triple-digit loss today, after the Trump administration doled out more tariff threats against China, and Beijing vowed to retaliate. The blue-chip benchmark extended its losing streak to six days, its longest since March 2017, and is now trading below its year-to-date breakeven level. The trade tensions sent the S&P 500 and Nasdaq lower as well, while the VIX -- or Wall Street's "fear gauge" -- finished at its highest point in weeks. 

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

• 2 ways to trade tensions with China.
• Analyst: The Intuit stock rally could be just beginning.
• Breaking down one well-timed Sarepta Therapeutics options trade.
• Plus, a Senate vote buries ACIA; SNAP's winning streak ends; and a Micron earnings preview.

The Dow Jones Industrial Average (DJI - 24,700.21) shed 287.3 points, or 1.2%, for its sixth straight loss. Of the 30 blue chips, eight closed with gains. Verizon Communications (VZ) had the best day, adding 2.2% after an analyst upgrade, while Boeing (BA) paced the 21 losers with a 3.8% drop. Microsoft (MSFT) broke even.

The S&P 500 Index (SPX - 2,762.57) gave back 11.2 points, or 0.4%. The Nasdaq Composite (IXIC - 7,725.59) lost 21.4 points, or 0.3%.

The Cboe Volatility Index (VIX - 13.35) tacked on 1 point, or 8.5%, for its highest close since June 1.

5 Items on Our Radar Today

1. At a German-French summit in Berlin today, German Chancellor Angela Merkel and French President Emmanuel Macron agreed on a preliminary budget plan for the eurozone. However, the pair still need to garner support from other eurozone governments. (Bloomberg)
2. The United States is allegedly exiting the United Nations Human Rights Council. Under the Trump administration, the U.S. was unhappy with the council's treatment of Israel. Reports of the exit come as Washington faces scrutiny over the separation of children and immigrant parents at the Mexico border. (Reuters)
3. A Senate vote on ZTE buried Acacia stock.
4. SNAP stock saw its streak halted by bear note.
5. Tension surrounds Micron stock ahead of earnings.

There are no earnings to report today.

Data courtesy of Trade-Alert

Oil, Gold Give Back Gains

Oil prices dipped today amid increased trade tensions between the U.S. and China. Investors are also keeping their eye on Friday's Organization of the Petroleum Exporting Countries (OPEC) meeting, where an increase in crude production is expected. July-dated crude futures shed 78 cents, or 1.2%, to settle at $65.07 per barrel. 

Gold prices also fell today, bucking the usual demand for safe-haven assets that tends to accompany falling stock prices. The greenback gained ground, weighing on the dollar-denominated commodity. Gold futures for August delivery gave back $1.50, or 0.1%, to close at $1,278.60 an ounce, its lowest point since December. 

Futures on the Dow Jones Industrial Average (DJI) are pointed higher for the first time this week, as trade tensions between the U.S. and China take a back seat to equity moves. This morning, Disney (DIS) upped its bid for Twenty-First Century Fox (FOXA) assets to $71.3 billion in cash and stock, topping Comcast's $65 billion all-cash offer. Fox shares are up 6.9% ahead of the bell.

Additionally, news broke late Tuesday that General Electric (GE) will be replaced on the Dow by Walgreen Boots Alliance (WBA) before the open on June 26, ending the conglomerate's 110-year presence on the index. WBA has added more than 3% in electronic trading.

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

• How to trade the latest S&P additions, according to Schaeffer's Senior Quantitative Analyst Rocky White.
• Yesterday's Senate vote slammed Acacia stock. 
• Why New York Times is the media stock to watch this summer.  
• Plus, ORCL suffers post-earnings bear notes; Starbucks announces store closings; FedEx stock wobbles on full-year guidance.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1 million call contracts traded on Tuesday, compared to 597,572 put contracts. The single-session equity put/call ratio rose to 0.59, while the 21-day moving average remained at 0.57.
2. Shares of Oracle Corporation (NYSE:ORCL) are down 3.8% in pre-market trading after Tuesday night's earnings results, with the company's soft current-quarter profit forecast sparking a Wedbush downgrade to "neutral" from "outperform." The brokerage firm also cut its price target to $49 from $55, while Barclays slashed its price target on ORCL to $58 from $60. Today's early losses continue a post-earnings losing streak for the software giant.
3. Starbucks Corporation (NASDAQ:SBUX) is nearly 4% lower in electronic trading, after announcing it will close 150 U.S. stores in response to weakening sales growth. The stock has received downgrades from Morgan Stanley and Telsey Advisory Group along with eight price-target cuts. SBUX stock has been underwhelming on the charts of late, and closed Tuesday squarely at its year-to-date breakeven price of $57.43.
4. FedEx Corporation (NYSE:FDX) is flat in pre-market trading, as traders weigh a fiscal fourth-quarter profit beat against a tepid full-year earnings forecast. The stock has received two price-target hikes this morning, after dropping 2% yesterday amid trade-war concerns.
5. Today's economic calendar features the MBA mortgage index, existing home sales, and the weekly crude inventories report. Micron Technology (MU), Actuant (ATU), and American Outdoor Brands (AOBC) are scheduled to unveil quarterly earnings.

European Markets Rebound on Grocery Strength

Stocks in Asia traded cautiously higher today, rebounding from Tuesday’s substantial pullback. In China, investors reacted to upbeat comments from People’s Bank of China governor Yi Gang, who said he’s “full of confidence” regarding the Chinese stock market. As such, the Shanghai Composite rose 0.3% and Hong Kong’s Hang Seng added 0.8%, with shares of tech giant ZTE soaring during the session. Equities in Japan performed even better, as the Nikkei rose 1.2%, while the Kospi added 1% in South Korea.

European stocks are also bouncing back. Retailers are some of the best performers thus far, thanks mostly to strong annual results from Belgian grocery chain Colruyt. British online supermarket Ocado also saw its shares rise after a bullish analyst note. Looking at the indexes, London’s FTSE 100 is up 0.8% so far, and France’s CAC 40 and Germany’s DAX are both sporting gains of 0.2%.

Stocks have given back their early morning gains, with the Dow Jones Industrial Average (DJI) dipping into the red and set to extend its daily losing streak to seven. While Walt Disney (DIS) shares continue to rise after the company's revised bid for Twenty-First Century Fox (FOXA) assets, the majority of Dow components are trading lower, perhaps due to lingering trade fears. On the other hand, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are keeping their heads above water thanks to tech sector strength, and the Cboe Volatility Index (VIX) is sliding.

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

• What GE's exit could mean for the Dow.
• Walgreens options traders react to today's stock move.
• Plus, bull bets on PayPal to $100; Stitch Fix stock extends rally; and Starbucks hits fresh lows.

One name seeing heavy options trading today is PayPal Holdings Inc (NASDAQ:PYPL). The shares were last seen trading up 1.9% at $86.14 -- earlier hitting an all-time high of $86.97, and breaking through recent technical resistance. Meanwhile, both puts and calls are seeing accelerated trading today. The weekly 6/29 85-strike put and the weekly 7/6 86-strike call are the two most popular options overall, but the most interesting action could be taking place at the October 100 call. Data there points to buy-to-open activity, which would mean a bull is betting on PYPL stock breaking out above $100 in the coming months.

Online apparel stock Stitch Fix Inc (NASDAQ:SFIX) is outperforming on the Nasdaq, rising 3.5% to trade at $27.20, on pace for its best close since December. The shares seem to be simply extending their post-earnings upside, after the company torched Wall Street's expectations earlier this month. SFIX stock is up more than 43% in June alone.

Starbucks Corporation (NASDAQ:SBUX) is one of the worst Nasdaq stocks today, as the shares continue to sink following the company's disappointing same-store sales outlook. SBUX stock has given back 8.8% and was last seen at $52.35, fresh off a new annual low of $52.32. The equity has shed more than 12% year-to-date.

After starting the session with a triple-digit gain, the Dow ultimately finished in the red, marking its seventh straight daily loss. Lingering concerns about a global trade war weighed on the index -- which is booting General Electric (GE) in favor of Walgreens Boots Alliance (WBA). In sunnier news, the S&P 500 and Nasdaq broke out of their slumps, with the latter scoring a new record high thanks to a tech and FAANG rally. Elsewhere, the Russell 2000 Index (RUT) notched an all-time high of its own. 

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

• Buy these Dow stocks after a losing streak.
• Why Starbucks stock was slammed today.
• Analyst: Stress tests will be a boon for Citigroup stock.
• Plus, PayPal's big day; 2 travel stocks to target; and the FAANG competitor endorsed by Goldman.

The Dow Jones Industrial Average (DJI - 24,657.80) shed 42.4 points, or 0.2%, for its seventh straight loss -- its longest losing streak since March 2017. Of the 30 blue chips, 10 closed with gains. Microsoft (MSFT) and Intel (INTC) paced the winners with 1% gains, while Travelers (TRV) led the 19 losers with a 2.5% drop. Walmart (WMT) broke even.

The S&P 500 Index (SPX - 2,767.32) gained 4.7 points, or 0.2%. The Nasdaq Composite (IXIC - 7,7781.52) added 55.9 points, or 0.7%, and notched a new record high of 7,806.59.

The Cboe Volatility Index (VIX - 12.79) gave back 0.6 point, or 4.2%.

5 Items on Our Radar Today

1. The wait is over; the joint healthcare venture between Berkshire Hathaway, JPMorgan Chase, and Amazon named Dr. Atul Gawande CEO. Gawande is a renowned surgeon, professor, writer, and public health executive. The entity will be based in Boston, Gawande will start July 9. (CNBC)
2. In the wake of public and political backlash over the separation of illegal immigrants and their children, President Donald Trump today signed an executive order to keep families together. The president had previously claimed his hands were tied, but stated he "didn't like the sight or the feeling of families being separated." (Bloomberg)
3. A $400 million purchase boosted PayPal stock.
4. These 2 travel stocks are attractively priced.
5. Goldman thinks this FAANG competitor is a "buy."

Data courtesy of Trade-Alert

Oil Ends Higher, Gold Extends Slide

Oil prices ended an up-and-down session higher, after data showed U.S. crude supplies posted their biggest weekly decline since January. However, tension remains ahead of Friday's Organization of the Petroleum Exporting Countries (OPEC) meeting, as various OPEC members debate output policy. July-dated crude futures added $1.15, or 1.8%, to settle at $66.22 per barrel. 

Gold prices extended their slide to 2018 lows, even as the greenback leveled out after yesterday's surge. Gold futures for August delivery gave back $4.10, or 0.3%, to close at $1,274.50 an ounce.

Futures on the Dow Jones Industrial Average (DJI) are trading below fair value, as trade tensions simmer and the focus shifts to oil against the backdrop of a highly anticipated Organization of the Petroleum Exporting Countries (OPEC) meeting. Cartel heavyweight Saudi Arabia is pushing for a substantial production increase, with that news pushing August crude futures 1.1% lower to trade at $65 per barrel. 

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

• 2 outperforming travel stocks with cheap options.
• Analyst: Buy shares of this FAANG competitor.  
• Another pair of bear notes for Intel stock.  
• Plus, Verizon stock lands a bull note; Kroger reports impressive earnings; and another analyst initiates coverage on SPOT.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.02 million call contracts traded on Wednesday, compared to 575,236 put contracts. The single-session equity put/call ratio fell to 0.56, while the 21-day moving average remained at 0.57.
2. Goldman Sachs upgraded Verizon Communications Inc. (NYSE:VZ) to "buy" from "neutral" and raised its price target to $56 from $51, describing the company as a long-term leader in broadband. VZ has been pinned below its 200-day moving average for the bulk of the second quarter, but the stock continues to rack up "buy" ratings from analysts. VZ is up 1.5% in electronic trading.
3. Grocery chain Kroger Co (NYSE:KR) is up 9% in pre-market trading, after the company reported a first-quarter earnings and revenue beat, and hiked the low end of its full-year profit forecast. KR has been inching its way higher on the charts this month, and is currently on pace to gap up toward four-month highs at the open.
4. Spotify Technology SA (NYSE:SPOT) is 1.8% higher in electronic trading after brokerage firm Macquarie initiated coverage on the stock with an "outperform" rating and a $225 price target. SPOT has gained 33.6% since its public trading debut in early April, reaching an all-time high of $180 just last Thursday.
5. Today's economic calendar will feature weekly jobless claims, the FHFA home price index, the index of leading economic indicators, and the Fed's balance sheet. Barnes & Noble (BKS), Finish Line (FINL), Red Hat (RHT), and Patterson Companies (PDCO) will report earnings.

Lingering Trade Fears Push Chinese Stocks Lower

Stocks mostly struggled throughout Asia, though Japan’s Nikkei managed to buck the regional sell-off. The Tokyo-based index grabbed a 0.6% win thanks to broad gains out of the tech sector, as well as expectations of dividend payouts at month’s end. On the other hand, China’s Shanghai Composite and Hong Kong’s Hang Seng both fell 1.4%. While the indexes started the day in positive territory, lingering trade fears eventually led them to close near session lows, with the Shanghai Composite suffering its lowest close in over two years. Elsewhere, the South Korean Kospi dipped 1.1%.

In Europe, the major equity benchmarks are lower at midday. Investors are monitoring OPEC-related headlines and a sharp pullback in Brent crude futures, which is weighing on energy stocks. Also in focus is the Bank of England’s latest policy decision, with the central bank this morning announcing it will leave interest rates unchanged -- though a growing belief that an interest-rate hike is on the horizon has the pound pushing higher. London's FTSE 100 is down 0.7% at last check, while the French CAC 40 has shed 0.5%, and the German DAX is down 0.8%.

Stocks are again falling today, and the Dow Jones Industrial Average (DJI) is in danger of an eighth straight decline. Trade war fears are weighing on names like Boeing (BA) and Caterpillar (CAT), though Intel (INTC) is the biggest blue-chip loser following the surprise departure of CEO Brian Krzanich.

A broader pullback in tech shares is also dragging down the S&P 500 Index (SPX) and Nasdaq Composite (IXIC), with Amazon (AMZN) among the notable decliners after a Supreme Court decision that allows states to collect taxes on online sales. Meanwhile, the energy sector remains in focus ahead of tomorrow's Organization of the Petroleum Exporting Countries (OPEC) meeting, with August-dated crude futures last seen 0.3% lower at $65.54 per barrel.

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

• Analyst eyes 300% rally from this foreign stem cell stock.
• 2 medical tech stocks named top picks at J.P. Morgan.
• Plus, Netflix hits new high; Kroger stock's big move; and Medifast stock slims down.

One name seeing heavy options trading today is Netflix, Inc. (NASDAQ:NFLX), after the FAANG stock received yet another $500 price target. NFLX shares are trading up 0.4% at $418.40, earlier hitting a record high of $423.21, and options traders are betting on more near-term upside. The weekly 6/22 series is extremely popular, accounting for the 10 most popular contracts overall. In the lead is the 420-strike call, where data points to buy-to-open activity -- meaning bulls foresee Netflix stock moving back atop $420 by tomorrow's close, when the contracts expire.

Kroger Co (NYSE:KR) is one of the best stocks on the New York Stock Exchange (NYSE) today, following the company's strong quarterly update. KR shares were last seen trading up 9.4% at $28.63, extending what's been an extremely volatile year on the charts. This puts the stock on pace for its highest close since early February.

Meanwhile, dieting specialist Medifast Inc (NYSE:MED) is taking a nasty fall, trading down 8.3% at $161.88, though it's not clear what's behind the sell-off. Given the stock's long-term gains, more than tripling in value over the past year thanks to some monster post-earnings moves, the losses could be attributed to a round of profit taking. Regardless, MED shares dipped below the 20-day moving average for the first time since early May.

Futures on the Dow Jones Industrial Average (DJI) are trading 130 points above fair value, with the blue-chip index looking to avoid a nine-day slump after notching its longest losing streak in over a year. Trade tensions are on the back burner as focus remains on the Organization of the Petroleum Exporting Countries (OPEC) meeting, where the cartel has reportedly agreed to a production boost of 1 million barrels per day -- though analysts expect the actual increase will range between 600,000 and 800,000, as some member countries face challenges in boosting output.

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

• 2 stocks making monster moves on the SCOTUS sales tax ruling. 
• Analyst sets lofty goal for outperforming Square stock.
• Netflix stock scored another $500 price target.  
• Plus, Micron rallies on a bull note; CarMax stock's post-earnings surge; and Dollar General stock lands a "strong buy."

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.02 million call contracts traded on Thursday, compared to 575,792 put contracts. The single-session equity put/call ratio remained at 0.56, while the 21-day moving average remained at 0.57.
2. Shares of Micron Technology, Inc. (NASDAQ:MU) are 1.2% higher in electronic trading, after Benchmark initiated coverage on the stock with a "buy" rating and $80 price target. This bull note comes one day after Micron reported a fiscal third-quarter earnings beat. MU settled Thursday at $59.44, up 87% year-over-year.
3. CarMax, Inc (NYSE:KMX) is up 8.9% in pre-market trading, after the company reported a fiscal first-quarter earnings and revenue beat. The stock is now on pace to open at new year-to-date highs, reversing Thursday's breach of support at its 20-day moving average.
4. Raymond James upgraded Dollar General Corp. (NYSE:DG) to "strong buy" from "outperform" and hiked its price target to $115 from $100, just one day after the discount retailer announced plans to create 7,000 jobs this fiscal year. The new target implies expected upside of 16.5% to last night's close at $98.68. Dollar General stock has been moving sideways since early February, unable to break above the $100 threshold.
5. Aside from the OPEC meeting, the week will close with Markit's flash purchasing managers index (PMI) and the Baker-Hughes weekly rig count. There are no notable earnings to report.

Chinese Markets Wrap Up Worst Week in Months

It was a mixed session for stocks in Asia. While China stocks were able to bounce back from early losses, they still wrapped up one of their worst weeks in months. The Shanghai Composite, for example, fell to nearly two-year lows before reversing course and closing up 0.5%. Hong Kong’s Hang Seng followed a similar path, settling with a 0.2% gain. South Korea’s Kospi also had a positive session, adding 0.8%. But in Japan, a sell-off in automakers pressured the Nikkei, which shed 0.8%.

In Europe, the major equity benchmarks are pushing higher at the halfway point. In fact, the FTSE 100’s 1.3% rise in London has it flirting with a positive weekly finish, even as the pound continues to rise. The uptick in oil prices is also helping, lifting names like Royal Dutch Shell and BP. Meanwhile, France’s CAC 40 is close behind the FTSE, adding 1%, and Germany’s DAX is gaining as well, up 0.5% at last check.

The Dow Jones Industrial Average (DJI) is up triple digits at the halfway point, poised snap its eight-day losing streak. Investors are focusing on the Organization of the Petroleum Exporting Countries (OPEC) meeting, with reports swirling the cartel has agreed to a slimmer-than-expected increase in output. At last check, August-dated crude is up 4.2% at $68.29 per barrel -- and oil stock Exxon Mobil (XOM) is at the top of the Dow.

Elsewhere, the S&P 500 Index (SPX) is rising alongside the Dow, though the Nasdaq Composite (IXIC) remains lower amid an extended tech sector pullback. Overall, the Dow is pacing for its second straight weekly loss, while both the S&P and Nasdaq are on track to leave their weekly winning streaks at four. 

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

• History says it's time to buy the dip on McDonald's stock. 
• FDA approval has this drug stock crushing shorts.
• Plus, CMG options hot after menu change; Anadarko Petroleum hits new high; and BlackBerry sinks on sales forecast.

One name seeing heavy options trading today is Chipotle Mexican Grill, Inc. (NYSE:CMG), after the burrito chain introduced new menu options. CMG shares are trading up 1.7% at $470.99, earlier hitting an annual high of $474.64, and day traders are betting on more near-term upside. The weekly 6/22 series is extremely popular, accounting for six of CMG's 10 most popular contracts. In the lead is the 470-strike call, where data points to some buy-to-open activity -- meaning bulls foresee Chipotle stock holding atop $470 through tonight's close, when the contracts expire.

Oil name Anadarko Petroleum Corporation (NYSE:APC) is one of the best stocks on the New York Stock Exchange (NYSE) today, up 6.5% to trade at $74.01, fresh off a new two-year high of $74.53, thanks to broader headwinds from the energy sector. APC has now added more than 38% in 2018, and is on track for its best weekly percentage gain since late December. 

Meanwhile, BlackBerry Ltd (NYSE:BB) is taking a nasty fall, and is one of the worst stocks on the NYSE at last check. The stock is trading down 9.3% at $10.63, after the tech firm forecast slowing software and services sales as it shifts to a subscription-based model -- which is offsetting first-quarter earnings and revenue beats. This just echoes recent technical troubles for BlackBerry stock, which is now back below its year-to-date breakeven level and its 320-day moving average.

The Dow managed to bounce back today and end its historic losing streak at eight days. Much of the gains came from blue chips Chevron (CVX) and Exxon Mobil (XOM), as oil prices enjoyed their best day since late 2016, following the Organization of the Petroleum Exporting Countries (OPEC) decision to raise crude output by a modest amount. Traders for the most part looked past the trade tensions that have plagued stocks all week, even with President Donald Trump earlier today tweeting out a threat to place 20% tariffs on European auto imports. But while the S&P traded higher with the Dow, the Nasdaq pulled back, and all three indexes finished with weekly losses.

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

• Buy calls on this Apple rival.
• 2 oil stocks with gas in the tank.
• According to one analyst, even Baker Mayfield could orchestrate this health insurer's turnaround efforts.
• Plus, options traders blast a booming energy stock; time to dump Bed Bath & Beyond; and Wall Street reacts to Chipotle's new menu options.

The Dow Jones Industrial Average (DJI - 24,580.89) was positive from start to finish, closing up 119.2 points, or 0.5%. DowDuPont (DWDP) led 24 blue chip advancers with a 2.6% gain, and JPMorgan Chase's (JPM) 1.6% slide paced the six losers. The Dow closed the week with a 2% decline.

The S&P 500 Index (SPX - 2,754.88) ticked up 5.1 points, or 0.2%, though the Nasdaq Composite (IXIC - 7,692.82) dipped 20.1 points, or 0.3%. The SPX settled down 0.9% for the week, and Nasdaq suffered a 0.7% weekly loss.

The Cboe Volatility Index (VIX - 13.77) shed 0.9 point, or 5.9%, but jumped 14.9% this week -- its biggest weekly gain in three months.

5 Items on Our Radar Today

1. The Supreme Court today ruled with a 5-4 split that authorities need a warrant to access the location of cellphone users. Exceptions will be made in cases such as active shooters or bomb threats. (Wired)
2. Looking closer at the tariff wars, European taxes on American goods such as bourbon and cranberries take effect today. The tariffs were previously expected to take effect next month. (USA Today)
3. Options traders were blasting this booming energy stock.
4. Why it may be time to dump Bed Bath & Beyond stock. 
5. How analysts are reacting to Chipotle's new menu options.

Data courtesy of Trade-Alert

Oil Jumps on OPEC News; Gold Rises, Too

Today's OPEC agreement sent August-dated crude futures soaring $3.04, or 4.6%, to $68.58 per barrel by the close -- marking black gold's best day since November 2016. As such, oil's weekly gain comes in at 5.4%.

Gold futures also managed slight gains today thanks to a weakening dollar, with the August contract adding 20 cents to end at $1,270.70 an ounce. For the week, though, gold shed 0.6%.