Dow Jones Industrial Average (DJI) futures are trading just above fair value today, reversing course and climbing higher after an early deficit. Stock futures initially took a tumble once President Donald Trump's duties on $34 billion of Chinese goods went into effect and China responded in kind with its own levies. However, the damage has since been mitigated by the strong monthly nonfarm payrolls report, which indicated the U.S. gained 213,000 jobs in June, beating economists' forecast of 200,000. Although the unemployment rate ticked up to 4%, the encouraging report was enough to lift S&P 500 Index (SPX) and Nasdaq-100 (NDX) futures higher as well.

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

• These 2 penny stocks got slammed yesterday.
• Options bears blitzed struggling Tesla stock.
• Plus, Biogen's big Alzheimer's breakthrough; Deutsche Bank and JPMorgan rumors; and General Motors feels the tariff pinch.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 763,068 call contracts traded Thursday, compared to 460,583 put contracts. The single-session equity put/call ratio fell to 0.60, while the 21-day moving average climbed to 0.58.
2. Biogen Inc (NASDAQ:BIIB) stock is up a whopping 12% in electronic trading, after the company's Alzheimer's drug was successful in its mid-stage study. Biogen stock is now pacing for its highest open since early February. As of yesterday's close at $298.81, BIIB had already added 20% since a late-April bottom of $249.17. 
3. Deutsche Bank AG (NYSE:DB) stock is up 3.3% ahead of the bell, after reports surfaced that JPMorgan Chase (JPM) and Industrial and Commercial Bank of China were considering acquiring a stake in the German bank. JPM has since denied the report. Deutsche Bank stock has been mired in a channel of lower lows all year, shedding 41% and culminating in a nearly two-year low of $10.36 on June 27. 
4. Shares of General Motors Company (NYSE:GM) are down 0.4% in electronic trading, as the U.S.-China tariffs go into effect. GM stock could be on track for its fourth straight weekly loss, although the dip appears to be contained by its 80-day moving average. 
5. International trade data and the Baker-Hughes weekly rig count will also be featured today.

Asian Markets Creep Higher; European Stocks Lower

Stocks in Asia ended modestly higher today, bouncing back from the prior session's red ink -- but major equity benchmarks in the region ended the week with losses in excess of 2%. China's Shanghai Composite fell to a new two-year low in intraday action before closing up 0.5%, matching the Hang Seng's gain in Hong Kong. Japan's Nikkei snapped a three-day losing streak to add 1.1%, and South Korea's Kospi rose 0.7%.

European bourses are hovering just south of breakeven at midday, as traders keep a wary eye trained on the freshly imposed tariffs between the U.S. and China. Automakers are giving back some of Thursday's gains, led by a 2% slide for Renault shares in Paris. At last check, the French CAC 40 and German DAX have dipped 0.05%, and London's FTSE 100 is 0.4% lower.

Stocks are holding on to solid gains today, as trade tensions take a breather amid developments of a possible "zero tariff" policy on imported cars between the U.S. and European Union (EU). The Dow Jones Industrial Average (DJI) boasts a triple-digit lead, while the S&P 500 Index (SPX) and the Nasdaq Composite (IXIC) are confidently higher as well. Car stocks are among the S&P winners at midday, while the latter has been propped up by tech stocks, with Micron Technology (MU) higher on estimates that China's recent ban of chip sales will have a limited impact on revenue. The U.S. is set to implement tariffs on Chinese goods tomorrow.

Elsewhere, the 2 p.m. ET release of the Fed meeting minutes will surely pique investors' interest, and traders are digesting a weaker-than-expected private-sector payrolls report ahead of tomorrow's monthly jobs data.

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

• This copper stock flashed a "sell" signal once again.
• One analyst set a lofty goal for Facebook stock.
• Plus, options traders bet on more MiMedx stock trouble; the car stock with a fresh "buy" endorsement; and Qorvo stock gets a critical bull note.

One name seeing notable options trading today is MiMedx Group Inc (NASDAQ:MDXG). The embattled drug stock is down 1.6% at $3.91 -- bringing its week-to-date deficit to 38% -- in the fallout over the company's CEO resignation earlier this week. Put volume is running at three times the expected pace, on track for the 99th percentile of its annual range. In the lead today is the September 2.50 put, where it appears the majority of the activity is buy-to-open. 

One of the biggest winners on the New York Stock Exchange today is Fiat Chrysler Automobiles NV (NYSE:FCAU), up 5.7% to trade at $19.97, boosted by the increased prospects of nixed U.S. tariffs on imported cars. In addition, Jefferies upgraded the car stock to "buy," despite slashing its price target to $23. Overall, FCAU has added 12% in 2018, and is on track to snap an eight-week losing streak. 

Another name seeing notable upside today is Qorvo Inc (NASDAQ:QRVO), up 4% to trade at $80.71, after Keybanc upgraded the Apple supplier to "overweight" from "sector weight." The analyst also set a price target of $95 for the shares -- territory not charted in nearly 16 years. QRVO stock has added nearly 22% in 2018, with its latest pullback contained by its 80-day moving average.

The Dow Jones Industrial Average (DJI) sports a triple-digit gain at midday, as an outstanding jobs report for the month of June offsets trade tensions stemming from the tariff "merry-go-round" between the U.S. and China. Barring any last-minute debacles, the Dow, S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are all on track for weekly wins. In addition, the Cboe Volatility Index (VIX) -- or Wall Street's "fear gauge" -- is set for its biggest weekly loss since mid-April.

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

• Analyst: Record highs ahead for this FAANG stock.
• An Alzheimer's breakthrough is powering Biogen stock's big day.
• Plus, Marvell put volume spikes; a lesser-known retailer rebounds; and Baidu rises despite tariff tensions.

One name seeing notable options trading today is Marvell Technology Group Ltd. (NASDAQ:MRVL). The semiconductor stock is up 0.6% at $21.40, but never really broke out following last week's Chinese approval of its purchase of Cavium. Put volume is running at two times the expected pace, on track for the 97th percentile of its annual range. Trade-Alert suggests one speculator sold to close 3,000 July 20.50 MRVL puts for 28 cents each.

One of the biggest winners on the New York Stock Exchange today is Boot Barn Holdings Inc (NYSE:BOOT), up 5.9% to trade at $23.40, though the catalyst is unclear. Shares of the footwear retailer have now more than tripled in the past year. Although the shares pulled back from a May 16 two-year high of $26.25, the pullback was contained by their 80-day moving average.

Another name seeing notable upside today is Baidu Inc (NASDAQ:BIDU), up 3.2% to trade at $251.82, so far seemingly unaffected by the tariffs that kicked in today between the U.S. and China. BIDU stock raced to a record high of $284.22 on May 16, but since then has given back 11%. 

A fresh round of trade headlines put pressure on stocks early on, and sent the Dow down 193 points at its intraday low. However, strong sessions for Dow newcomer Walgreens Boot Alliance (WBA) and big-cap tech stocks helped the blue-chip index battle back into positive territory by the close -- and pushed the S&P 500 and Nasdaq higher to start the third quarter, as well. The whipsaw trading comes amid what's set to be a low-volume week, with the U.S. stock market closing early tomorrow and shuttered all day Wednesday for the Fourth of July holiday.

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

• Analyst: Shares of this EpiPen competitor can triple.
• Melco Resorts options traders reacted as casino stocks plunged.
• Plus, Tesla's big reversal; tech stock flashes a possible "sell" signal; and AMD options traders target key level.

The Dow Jones Industrial Average (DJI - 24,307.18) traded in a 241-point range on both sides of breakeven, before settling up 35.8 points, or 0.2%. Nineteen Dow stocks closed higher, paced by a 1.9% advance for WBA. Walmart (WMT) paced the 11 decliners with its 1.9% drop, while United Technologies (UTX) was unchanged.

The S&P 500 Index (SPX - 2,726.71) briefly dipped below 2,700 in intraday trading, before settling with an 8.3-point, or 0.3%, gain. The Nasdaq Composite (IXIC - 7,567.69) outperformed its major index peers to add 57.4 points, or 0.8%.

The Cboe Volatility Index (VIX - 15.60) hit an intraday high of 18.08 before closing down 0.5 point, or 3.1%.

5 Items on Our Radar Today

1. Roger Federer emerged onto Wimbledon's Centre Court today wearing Uniqlo -- a Japanese clothing company owned by Fast Retailing. This marked the end to Federer's endorsement deal with Nike, which he was initially signed to in 1994. (USA Today)
2. Dell is gearing up to become a publicly traded company again in a $21.7 billion cash-and-stock deal that includes buying the tracking stock of VMware, which it majority owns. Dell was taken private back in 2013 by CEO Michael Dell and investment firm Silver Lake. (Reuters)
3. Tesla stock closed in the red, despite soaring out of the gate on a Model 3 production update.
4. This tech stock just rallied into a trendline that's been a reliable "sell" signal in recent years.
5. Weekly Advanced Micro Devices options traders targeted this key technical level.

There were no major earnings reports today.

Data courtesy of Trade-Alert

Strong Dollar Pressures Gold to New 2018 Lows

Oil prices slipped today, after President Donald Trump tweeted over the weekend about a potential deal with Saudi Arabia to ramp up crude production. August-dated crude fell 21 cents, or 0.3%, to settle at $73.94 per barrel.

A stronger U.S. dollar pressured gold prices today. Gold futures dated for August delivery gave back $12.80, or 1%, to close at $1,241.70 an ounce -- a new year-to-date low.

U.S. stocks finished the day firmly positive in thin post-holiday trade. Better-than-expected jobs data pushed markets higher, despite the U.S. and China moving ahead with their first round of tariffs. The Dow and Nasdaq were up triple digits at their intraday highs, while the S&P also fared well, as all three indexes made their way to weekly wins. On the other hand, the VIX extended its drop, and suffered its steepest weekly loss since mid-April.

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

• Penny stock Black Box popped on a social media partnership.  
• One option bear bet on deeper losses for Ford stock.
• Plus, the oil stock ready to bounce; a buy signal for BZUN; and an analyst eyes record highs for Apple stock.

The Dow Jones Industrial Average (DJI - 24,456.48) finished up 99.7 points, or 0.4%. Walgreens (WBA) paced the 24 gainers with a 1.5% advance, while Caterpillar (CAT) took the biggest loss of 0.3%. For the week, the Dow added 0.8%.

The S&P 500 Index (SPX - 2,759.82) settled 23.2 points, or 0.9%, higher. The Nasdaq Composite (IXIC - 7,688.39) ended up 101.9 points, or 1.3%. On a weekly basis, the SPX advanced 1.5%, while the Nasdaq rose 2.4%.

The Cboe Volatility Index (VIX - 13.37) shed 1.6 points, or 10.7%. The VIX gave up 16.9% on the week.

5 Items on Our Radar Today

1. U.S. Secretary of State Mike Pompeo will begin his second day of talks with North Korea Saturday, in hopes to solidify a plan to move forward in denuclearizing the pariah state. The new round of meetings comes roughly one month after President Donald Trump and North Korean leader Kim Jong Un met in Singapore, which concluded with a vague agreement on the matter. (Bloomberg)
2. Clothing subscription concern Stitch Fix (SFIX) ended the week with a massive two-day surge that added nearly half a billion dollars to its market cap. SFIX has gained more than 50% during the past month, thanks in part to Oprah buzz. (CNBC)
3. Outperforming oil stock WLL is ready to bounce off a key trendline.
4. This Baozun stock buy signal has never been wrong.
5. Loop Capital upped its price target for Apple stock. 

Data courtesy of Trade-Alert

Oil Futures Snap Two-Week Winning Streak

Oil closed modestly higher today, bouncing back from the previous session's inventory-related decline as equities rallied. August-dated crude finished up 86 cents, or 1.2%, at $73.80 per barrel for the day. For the week, oil dropped 0.5%.

Gold futures ended lower for the first day in three, as an upbeat jobs report supported the Fed's policy-tightening agenda. Gold for August delivery settled down $3, or 0.2%, at $1,255.80 per ounce for the day, but gained 0.1% for the week.

Dow Jones Industrial Average (DJI) futures are trading sharply higher again, as stocks look to build off the momentum from Friday's jobs report. The blue-chip index is signaling a triple-digit jump at the open, and futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are set for big moves, as well. With little else on today's economic schedule, the payrolls-induced tailwinds could persist, especially with trade tensions seemingly taking a back seat for the moment.

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

• This outperforming oil stock could be set to bounce.
• Short sellers could get burned by this Chinese e-commerce stock.
• Options traders reacted to Biogen's big Alzheimer's breakthrough.
• Plus, Groupon stock set to surge; Twitter eyes more upside; and AT&T sees big changes for HBO.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 871,060 call contracts traded on Friday, compared to 499,995 put contracts. The single-session equity put/call ratio fell to 0.57, while the 21-day moving average stayed at 0.58.
2. Groupon Inc (NASDAQ:GRPN) shares are up almost 11% in electronic trading, thanks to a Recode report saying the company is looking for a buyer. GRPN shares have been prone to volatile moves on the charts, but as of Friday's close at $4.36, they were down 14.5% year-to-date. The sharp jump in the stock price would be bad news for short sellers, which increased their positions by 27.4% in the last two reporting periods.
3. Another pre-market winner is Twitter Inc (NYSE:TWTR), with shares of the social media company up 1% before the open. The Washington Post on Friday released a story detailing how Twitter's been deleting fake accounts at a blistering pace, including more than 70 million in May and June alone, in its continued attempt to clean up its site. TWTR stock, meanwhile, has had a tremendous year, rallying to more than three-year highs and closing Friday at $46.65. More tailwinds could be on the way for the new S&P addition, too.
4. In other news, The New York Times obtained a recorded speech of AT&T Inc. (NYSE:T) executive and new head of HBO John Stankey, in which he discussed the ways HBO will need to change to be successful following the company's Time Warner purchase. A number of analysts have suggested the merger could actually hurt HBO's ability to compete with Netflix (NFLX). AT&T stock has shed almost 16% in 2018, last seen at $32.68.
5. Minneapolis Fed President Neel Kashkari is scheduled to speak today. There are no notable earnings set for release.

Stocks in Asia, Europe Gain

Asian stocks finished strong today, building on Friday's positive momentum. China's Shanghai Composite outpaced its peers, adding 2.5% as bank and insurance shares rallied. Elsewhere, Hong Kong's Hang Seng added 1.3%, while a cooling yen lifted Japan's Nikkei 1.2%. Rounding things out, South Korea's Kospi gained 0.6%.

European markets are higher at midday, brushing off the unexpected resignation of the U.K.'s top Brexit negotiator, David Davis. At last check, London's FTSE 100 is up 0.3% after Britain's Prime Minister Theresa May nominated Dominic Raab to replace Davis, the French CAC 40 is 0.2% higher, and the German DAX has edged up 0.07%.

The Dow Jones Industrial Average (DJI) is over 250 points higher at midday, as Friday's landmark jobs report has the blue-chip index on pace for its best day in more than a month. The trade war tensions that have plagued Wall Street in recent months have seemingly waned, and bank stocks are leading the charge ahead of second-quarter earnings season. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also modestly higher, with all three benchmarks on track for their third straight win.

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

• This cybersecurity stock has room to run, according to analysts.
• The retail stock surging after a fresh "buy" rating.
• Plus, Nordstrom's spiking call volume; Twitter stock pulls back; and Deutsche Bank downgrades AK Steel stock.

One name seeing notable options trading today is Nordstrom, Inc. (NYSE:JWN). The retail stock is down 1.7% at $53.03, but calls remain popular today. Call volume is running at five times the expected pace, on track for the 95th percentile of its annual range. Leading the charge today is the July 55 call, where more than 2,500 contracts have been exchanged, and buy-to-open activity is suspected.

One of the biggest losers on the New York Stock Exchange today is Twitter Inc (NYSE:TWTR), down 8% to trade at $42.96, on track for its worst day since late March. The social media stock signaled a higher open, but is in the red as a recent Washington Post article on the company's high account suspension rate sparks concerns about user growth. Despite the pullback today, TWTR stock has doubled in the past year, guided higher by its ascending 30-day moving average.

Another name struggling today is AK Steel Holding Corporation (NYSE:AKS), down 2.7% to trade at $4.46, after Deutsche Bank downgraded the steel name to "hold" from "buy," while slashing its price target to $5 from $6. AKS has now shed almost 22% in 2018.

A big day for bank stocks helped push the Dow back into positive year-to-date territory today, with the blue-chip index logging its best day since June 6 on strong gains for Goldman Sachs (GS) and JPMorgan Chase (JPM). The S&P and Nasdaq also gained ground, as FAANG stocks surged. By the time the dust settled, all three benchmarks were higher for a third straight day, while the VIX brought its daily losing streak to three.

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

• Analyst: Dump this drug stock now.
• PepsiCo options traders are bracing for a post-earnings volatility crush.
• Buyout buzz had Groupon stock surging.
• Plus, FireEye gets upgraded; the social media stock booming on FAANG rumors; and the penny stock that quadrupled today.

The Dow Jones Industrial Average (DJI - 24,776.59) spent the whole session in positive territory, adding 320.1 points, or 1.3%. Twenty-five Dow stocks closed higher, led by a 4.1% pop for Caterpillar (CAT). Procter & Gamble (PG) paced the five decliners with its 1.8% drop.

The S&P 500 Index (SPX - 2,784.17) settled near its session highs, adding 24.4 points, or 0.9%. The Nasdaq Composite (IXIC - 7,756.20) gained 67.8 points, or 0.9%.

The Cboe Volatility Index (VIX - 12.69) closed below 13 for the first time since June 20, shedding 0.7 point, or 5.1%.

5 Items on Our Radar Today

1. President Donald Trump took aim at drug companies today, calling out pharma giant Pfizer specifically. Trump tweeted, "Pfizer & others should be ashamed that they have raised drug prices for no reason ... We will respond!" Nevertheless, PFE stock closed the session up 0.1%. (CNBC)
2. Comcast (CMCSA) is reportedly lining up possible buyers for Twenty-First Century Fox's (FOXA) regional sports network in hopes of upending Walt Disney's (DIS) $71 billion cash-and-stock bid for the latter's entertainment assets. CMCSA is expected to make a counter-offer for the FOXA assets later this month. (Reuters)
3. 2 reasons Piper Jaffray upgraded FireEye stock.
4. Rumors of a FAANG partnership had this social media stock nearing a key technical level.
5. This penny stock quadrupled on M&A news.

There are no earnings of note today.

Data courtesy of Trade-Alert

Gold Notches Highest Close Since Late June

Oil prices edged higher today, after Suncor Energy said it will resume some production at a Canadian oil sands facility later this month -- with full operations slated for September. August-dated crude added 5 cents to settle at $73.85 per barrel.

Gold futures resumed their recent trek higher, even as the dollar gained ground. Gold for August delivery added $3.80, or 0.3%, to close at $1,259.60 an ounce -- its highest settlement since June. 26.

Coming off the blue-chip index's best day in a month, Dow Jones Industrial Average (DJI) futures are pointing to a fourth straight session of gains. While the stock market calendar remains somewhat light, traders at least have a major earnings release to consider in the form of PepsiCo's (PEP) second-quarter results. The Labor Department's Job Openings and Labor Turnover Survey (JOLTS) is due out this morning, too. Meanwhile, S&P 500 Index (SPX) futures are also higher, as the broad-market benchmark eyes its own four-day winning streak.

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

• Schaeffer's Senior V.P. of Research Todd Salamone highlights the options indicator stock traders need to watch.
• Netflix stock just got another huge price target.
• A penny stock that exploded on M&A news yesterday.
• Plus, snack sales help PepsiCo; Microsoft's big announcement; and another Quest Diagnostics upgrade.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 989,968 call contracts traded on Monday, compared to 523,059 put contracts. The single-session equity put/call ratio fell to 0.53, while the 21-day moving average stayed at 0.58.
2. PepsiCo stock is trading up 3% ahead of the open, after the company's snack business helped offset weaker soda sales in the second quarter, leading to a top- and bottom-line beat for the period. Bearish sentiment had been ramping up on PEP stock ahead of the event, but if the pre-market gains holds, the shares would enjoy their highest close since mid-March.
3. Microsoft Corporation (NASDAQ:MSFT) is in focus this morning, after the company announced a new 10-inch Surface Go laptop, which starts at $399. MSFT stock closed Monday at $101.85, within striking distance of last month's record high of $102.69, and the shares are trading slightly higher before the open.
4. As for some analyst activity this morning, Quest Diagnostics Inc (NYSE:DGX) is once again enjoying bullish attention. Evercore ISI upgraded DGX stock to "outperform" from "in line" and moved its price target up to $121 -- into record-high territory. The diagnostics concern has been strong in 2018, thanks to a number of bullish analyst notes.
5. Outside of PEP, there are no other earnings releases to watch.

Nikkei Leads In Asia; European Stocks Gain

It was a mostly higher finish in Asia today, with Tokyo stocks outperforming their regional peers. Specifically, Japan's Nikkei added 0.7%, as Yahoo Japan surged on news Altaba will sell some of its remaining stake in the tech name to SoftBank. Elsewhere, China's Shanghai Composite added 0.4%, after data showed inflation rose last month. South Korea's Kospi also tacked on 0.4%, though Hong Kong's Hang Seng erased earlier gains to close down 0.02%.

European stocks are trading in positive territory at midday, with the energy sector leading the pack as oil prices gain ground. Traders are also keeping a close eye on this week's NATO summit between U.S. President Donald Trump and European leaders, as well as a strong reading on eurozone home prices, which rose at their fastest past since 2007 in the first quarter. At last check, the German DAX and the French CAC 40 are each flirting with 0.5% gains, while London's FTSE 100 is up 0.1%.

The Dow Jones Industrial Average (DJI) is extending its recent run of gains, up triple digits and on track for its fourth straight win, as corporate earnings season wrestles the spotlight from trade war tensions. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also pushing higher, with the former nabbing a four-month high on the heels of PepsiCo (PEP) earnings. Small-cap stocks have joined in on the fun as well, with the Russell 2000 Index (RUT) tapping a fresh record peak.

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

• This healthcare stock is a safe haven from the Amazon threat, per analysts.
• Why the Chipotle downgrade could be a buying opportunity.
• Plus, Pandora puts popular; Lowe's restructures the C-Suite; and one analyst pumps the brakes on Biogen stock.

One name seeing notable options trading today is Pandora Media Inc (NYSE:P). Shares of the music streaming name are down 1.8% at $7.84, and options bears are piling on. Put volume is running at 17 times the expected pace, on track for the 100th percentile of its annual range. Leading the charge today is the August 9 put, where more than 10,000 contracts have been exchanged, and buy-to-open activity is suspected.

A notable S&P 500 gainer today is Lowe's Companies, Inc. (NASDAQ:LOW), up 2% to trade at $98.98, after the company announced it would be scrapping four executive positions in an effort to realign its leadership structure. The remaining positions will report to CEO Marvin Ellison, who took the post in May after a stint at J C Penney (JCP). On the charts, LOW shares recently pulled back from the century mark, although the dip was contained by their 40-day moving average.

One name struggling today is Biogen Inc (NASDAQ:BIIB), down 3.5% to trade at $341.80, after Baird cut the drugmaker to "neutral" from "outperform." The analyst in coverage posited that the stock's seismic move last week was not warranted, and called the company's big Alzheimer's disease data ambiguous. Despite the pullback today, BIIB is still trading comfortably above its year-to-date breakeven point.

U.S. stocks are bracing for a lower open, with the focus returning to a U.S.-China trade war. The Trump administration last night released a list of $200 billion worth of Chinese goods that could be slapped with 10% tariffs, sending Dow Jones Industrial Average (DJI) futures almost 200 points below fair value and putting the Dow's win streak in jeopardy. Elsewhere, traders are watching Pfizer (PFE) after the company announced plans to split into three units, and keeping tabs on the NATO summit in Brussels. That's just a small taste of a busy news morning, however, as Wall Street has seemingly come back to life from its low-volume, post-holiday hangover.

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

• This rare volatility signal could be bullish for stocks, per Schaeffer's Senior Quantitative Analyst Rocky White.
• 3 stocks hit by analyst downgrades.
• The pharma company with "ambitious goals."
• Plus, an Apple news round-up; upbeat earnings results; and a new TripAdvisor rating.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 756,583 call contracts traded on Tuesday, compared to 556,971 put contracts. The single-session equity put/call ratio jumped to 0.74, while the 21-day moving average edged up to 0.59.
2. Apple Inc. (NASDAQ:AAPL) is in the headlines this morning. A Japanese watchdog is accusing the company of violating antitrust rules. Elsewhere, a former Apple employee has been charged with stealing a blueprint for a self-driving car. AAPL shares settled at $190.35 yesterday, about a month after hitting a record high of $194.20. After hitting that milestone, Apple's pullback was neatly contained by the 50-day moving average.
3. Turning to the earnings front, Fastenal Company (NASDAQ:FAST) is looking to toast pre-earnings bears, with the stock racing 7% higher in electronic trading. The construction supplier exceeded top- and bottom-line estimates for the second quarter, and raised its dividend. As of Tuesday's close at $49.53, FAST stock was down 9.4% year-to-date.
4. Travel site TripAdvisor Inc (NASDAQ:TRIP) is another pre-market winner, trading up 3.2%. Barclays upgraded the stock to "overweight" from "equal weight," and hiked its price target to $70 from $49. TRIP stock was already up 67.1% in 2018, though the $60 level -- the site of a late-2016 bear gap -- has capped its upside.
5. The producer price index (PPI) and weekly crude inventories are on the docket for today. New York Fed President John Williams will speak after the close. AngioDynamics (ANGO) and Delta Air Lines (DAL) will tell all in the earnings confessional.

Chinese Markets Hit By Tariff Fears; Trump Slams Germany

It was a lower finish in Asia today, after the U.S. proposed new tariffs on Chinese products. The Shanghai Composite slumped 1.8% to snap its three-day winning streak, while Hong Kong's Hang Seng gave back 1.3%. Elsewhere in the region, Japan's Nikkei plunged 1.2%, and South Korea's Kospi shed 0.6%.

European markets are swimming in red ink at midday, with mining stocks suffering the most on the Chinese tariff news. Traders are also keeping a close eye on today's NATO summit, after U.S. President Donald Trump accused Germany of being "totally controlled by Russia." At last check, the German DAX is off 1.2%, while the French CAC 40 and London's FTSE 100 are both down 1.1%.

After a red-hot start to the week, the Dow Jones Industrial Average (DJI) has surrendered more than 180 points today, as trade war tensions with China rear their ugly head once more. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also in the red, and it appears all three benchmarks will see their four-day winning streaks come to an end. Along with threatening new tariffs on Chinese goods, President Donald Trump is also making waves at the NATO summit in Brussels, accusing Germany of being "totally controlled by Russia." Elsewhere, oil prices are lower after Libya reopened key ports, overshadowing a steep drop in domestic crude inventories last week. At last check, August-dated oil futures are down 2.5% at $72.25 per barrel.

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

• This pharma stock is J.P. Morgan Securities' top pick.
• TripAdvisor stock has room to run.
• Plus, call volume surges on Deere stock; Fastenal stock's best day in years; and American Airlines stock keeps sinking.

One name seeing notable options trading today is Deere & Company (NYSE:DE). Shares of the machinery manufacturer are down 1.9% at $141.75, after J.P. Morgan Securities cut its price target to $154 from $170. However, options bulls could be banking on a big rebound soon. Call volume is running at eight times the expected pace, on track for the 100th percentile of its annual range. Leading the charge today is the September 145 call, where more than 11,000 contracts have been exchanged, and buy-to-open activity is suspected.

Leading the S&P 500 today is Fastenal Company (NASDAQ:FAST), up 10% to trade at $54.87, after the industrial machinery maker defied historical trends -- and recent options buyers -- and reported second-quarter revenue that exceeded analyst forecasts. Fastenal shares are on track for their biggest one-day gain since October 2008, and are poised to finish above their 100-day moving average for the first time in over a month.

One of the worst stocks on the S&P 500 today is American Airlines Group Inc (NASDAQ:AAL), down 6% to trade at $36.76, and earlier touching an annual low of $36.59. The struggling airliner slashed its second-quarter unit revenue forecasts prompting a price-target cut from Cowen to $48 from $55. AAL stock has now shed almost 30% in 2018.