Stocks took a hit today, as investors were rattled by plummeting oil prices and the Trump administration's threat to impose fresh tariffs on $200 billion in Chinese goods. Big losses for industrial giant Caterpillar (CAT) and energy stock Chevron (CVX) took a toll on the Dow, with the blue-chip index snapping its four-day win streak. The S&P 500 and Nasdaq also closed lower for the first time since last Tuesday, while the VIX climbed back above 13.

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

• Salesforce.com stock is scorching shorts.
• History says to buy puts on this car stock.
• Analysts chimed in on big pharma ahead of earnings.
• Plus, a bearish signal for JPMorgan Chase; Papa John's heads back to the hot seat; and oil prices plunge.

The Dow Jones Industrial Average (DJI - 24,700.45) gave back 219.2 points, or 0.9%. Caterpillar and Chevron led 24 Dow stocks lower, losing 3.2% apiece, while Walt Disney (DIS) paced the five advancers with its 1.9% gain. Verizon (VZ) finished flat.

The S&P 500 Index (SPX - 2,774.02) shed 19.8 points, or 0.7%, while the Nasdaq Composite (IXIC - 7,716.61) surrendered 42.6 points, or 0.6%.

The Cboe Volatility Index (VIX - 13.63) added 1 point, or 7.8%, but ran out of steam near its 40-day moving average.

5 Items on Our Radar Today

1. U.S. President Donald Trump suggested at today's North Atlantic Treaty Organization (NATO) summit that member countries should boost their defense spending to 4% of gross domestic product (GDP). This is more than double the current NATO target of 2% of GDP. (Bloomberg)
2. American Airlines (AAL) lowered its second-quarter unit revenue growth forecast, saying it now expects the total revenue per available seat mile (TRASM) to rise in the 1%-3% range, versus its previous guidance of 1.5%-3.5% growth. In reaction, AAL stock fell 8% in today's trading. (MarketWatch)
3. JPMorgan Chase stock flashed a bearish technical signal ahead of earnings.
4. Papa John's stock hit a new two-year low after the pizza maker's latest PR disaster.
5. Nomura says traders should buy these two FAANG stocks.

Data courtesy of Trade-Alert

Crude Plummets as Libyan Exports Resume

Oil prices plummeted today, as signs that Libya is on track to return to full oil production overshadowed the biggest weekly decline in domestic crude supplies in almost two years. At the close, August-dated crude futures were down $3.73, or 5%, to settle at $70.38 per barrel -- the biggest daily percentage drop for a most-active futures contract in over a year.

Gold tracked copper's losses today amid heightened trade tensions, while a stronger dollar only created stiffer headwinds. Gold for August delivery shed $11, or 0.9%, to close at $1,244.40 an ounce.

U.S. stock futures are on the rise this morning, as investor focus shifts from the recent trade tensions to this morning's economic data. Specifically, China has yet to respond to the Trump administration's newest list of tariffs, though the country said it would fight a trade war if necessary. Meanwhile, weekly jobless claims came in lower than expected, with 214,000 Americans filing for unemployment benefits, and the closely watched consumer price index (CPI) ticked 0.1% higher in June, signaling an extended rise in inflation. Year-over-year, the CPI grew 2.9% last month -- the most since February 2012. Against this backdrop, Dow Jones Industrial Average (DJI) futures are sharply higher, as are futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX).

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

• This big bank is flashing "sell" before earnings.
• Puts popped during Papa John's stock sell-off.
• Analyst: Buy these 2 FAANG stocks.
• Plus, airliner posts strong quarterly results; a rare Netflix development; and LB stock falls on Victoria's Secret weakness.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 704,583 call contracts traded on Wednesday, compared to 418,971 put contracts. The single-session equity put/call ratio slid to 0.59, while the 21-day moving average remained at 0.59.
2. Delta Air Lines, Inc. (NYSE:DAL) is edging higher before the opening bell, as a second-quarter earnings beat overshadows the company's lowered 2018 outlook. DAL shares have failed to take off this year, shedding 11% year-to-date to trade at $49.84, and some analysts have suggested trade tensions could weigh on the stock.
3. Netflix, Inc. (NASDAQ:NFLX) is plenty used to receiving bullish analyst attention, but today the stock is reacting to a rare downgrade. UBS lowered its opinion on the streaming giant to "neutral" from "buy," saying the valuation already prices in all good news for the company. Still, Canaccord Genuity boosted its own price target to $500 on NFLX stock, which is down 0.7% ahead of the bell.
4. Weak same-store sales in June for Victoria's Secret is set to weigh on L Brands Inc (NYSE:LB) today. LB stock is pointed 7% lower in electronic trading, which would put it where it was trading before its impressive earnings release in late May.
5. The Treasury budget comes out today. Traders may also react to an afternoon speech from Boston Fed President Patrick Harker, while Minneapolis Fed President Neel Kashkari is slated to speak after the market closes. The earnings calendar is bare.

Chinese, European Markets Rebound

Asian markets bounced back from the previous session's sell-off, with Chinese stock's leading the charge. The Shanghai Composite surged 2.2%, while Hong Kong's Hang Seng added 0.6% as shares of ZTE jumped on news the Shenzen-based telecom was given an all-clear from Washington to begin buying from U.S. suppliers. Elsewhere, Japan's Nikkei rose 1.2% amid a cooling yen, and South Korea's Kospi added 0.2% -- even as the Bank of Korea lowered its full-year gross domestic product (GDP) forecast.

Stocks in Europe are higher at midday, joining in the global rebound. Among specific indexes, London's FTSE 100 is up 0.9% ahead of the government's release of its White Paper detailing the country's Brexit plan and a visit from U.S. President Donald Trump. The French CAC 40 is also flirting with a 0.9% lead, while the German DAX is 0.6% higher following a report that showed inflation slowed last month.

The U.S. stock market is bouncing back from Wednesday's drubbing, with the Dow Jones Industrial Average (DJI) trading up triple digits at midday -- led by big gains for tech shares Cisco Systems (CSCO), Intel (INTC), and Microsoft (MSFT) -- as Wall Street turns away from tariff concerns to digest the latest inflation update. But while stocks rebound, oil prices continue to slump, with August-dated crude futures down 1.3% at $69.47 per barrel, on pace for their first close below the key $70 mark since June 25.

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

• Schaeffer's Senior V.P. of Research Todd Salamone took to CNBC to explain how the Fed could spark a breakout in stocks.
• This booming FAANG stock just got downgraded.
• Plus, 2 sinking retail stocks; and Spirit Airlines soars.

One name seeing notable options trading today is American Eagle Outfitters (NYSE:AEO), with nearly 12,000 call contracts traded so far -- 43 times the expected intraday amount, and volume pacing in the 100th annual percentile. Most active is the November 24 call, where it looks like new positions are being purchased. AEO stock is down 5.8% today at $22.51, hit with headwinds from fellow retailer L Brands.

In fact, L Brands Inc (NYSE:LB) is one of the biggest decliners on the New York Stock Exchange (NYSE) today -- down 10.5% at $32.90. The Columbus-based retailer reported an unexpected decline in same-store sales at its Victoria's Secret brand, though overall June comparable sales matched estimates.

On the flip side, Spirit Airlines Incorporated (NYSE:SAVE) is near the top of the Big Board, after the travel name gave an update to its second-quarter guidance -- while its sector peer swings higher after earnings. At last check, SAVE stock is up 9.1% at $39.40, attempting to break out above its 200-day moving average, which has stifled the shares since late March.

Stocks spent the whole day in positive territory, with surging tech shares driving markets higher. In fact, the Nasdaq hit a fresh record high on the back of a big Amazon rally. The buying power extended to the Dow and S&P 500, too, where strong sessions for Apple and Cisco powered the indexes to impressive gains -- ultimately pushing the S&P past a key technical level at its pre-Fed high from June.

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

• The unluckiest S&P stock on Friday the 13th.
• Goldman Sachs targeted 25% upside for Twitter stock.
• Plus, Netflix got downgraded; the drug stock that surged 25%; and Wall Street reacts to Broadcom's new purchase.

The Dow Jones Industrial Average (DJI - 24,924.89) closed just shy of its session highs, up 224.4 points, or 0.9%. Twenty-five Dow stocks gained ground, led by Cisco's (CSCO) 2.4% win. Procter & Gamble (PG) paced the five decliners with its 0.3% loss.

The S&P 500 Index (SPX - 2,798.29) came within striking distance of 2,800, before settling up 24.3 points, or 0.9%. The Nasdaq Composite (IXIC - 7,823.92) hit an all-time intraday peak of 7,825.67, and set a new record close with its 107.3-point, or 1.4%, gain.

The Cboe Volatility Index (VIX - 12.58) slid 1 point, or 7.7%, to settle at its lowest point since June 18.

5 Items on Our Radar Today

1. Fed Chair Jerome Powell waxed optimistic about the U.S. economy in an interview today, but said that ongoing tariff disputes "could be a negative." Ahead of next week's trip to Capitol Hill, the head of the central bank also chimed in on rising inflation, saying that while it's hovering around the 2% target, "We're not declaring victory there." (Marketplace)
2. The Department of Justice will not block a merger between CVS Health and Aetna, according to Bloomberg. The drugstore chain's $69 billion bid for the insurance giant first surfaced last December, and today's headlines sent both stocks higher on the day. (CNBC)
3. Netflix stock was downgraded at UBS on valuation concerns.
4. This drug stock jumped almost 25% on a big bullish brokerage note.
5. Wall Street poured cold water on Broadcom's latest acquisition.

Data courtesy of Trade-Alert

IEA Report Keeps Crude Under Pressure

Oil prices extended Wednesday's sell-off, after a report from the International Energy Agency (IEA) fueled concerns over easing demand and rising supplies. Crude for August delivery fell 5 cents to settle at $70.33 per barrel.

A cooling dollar helped gold eke out a modest gain for its first win in three days. August-dated gold added $2.20, or 0.2%, to settle at $1,246.60 an ounce.

U.S. stock futures are trading mixed this morning, as traders react to second-quarter earnings out of the financial sector. While shares of Citigroup (C) are sliding before the open, blue chip JPMorgan Chase (JPM) is ticking higher thanks to a record-breaking earnings release. On the economic front, Wall Street is digesting a sharp drop in June import prices, while the University of Michigan's consumer sentiment survey is due out later in the morning. Despite the tepid pre-market price action, the Dow Jones Industrial Average (DJI) and its index peers are set for a second straight week of gains, as the Nasdaq Composite (IXIC) looks to build on yesterday's all-time high.

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

• Drug trial results sparked another huge bull gap for one biotech.
• Why Amazon options volume nearly hit a new annual high.
• Options traders won big on this crashing airline stock.
• Plus, 2 Dow stocks surrounded by negative news, and a big bank set to tumble after earnings.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 946,550 call contracts traded on Thursday, compared to 525,993 put contracts. The single-session equity put/call ratio dipped to 0.56, while the 21-day moving average held at 0.59.
2. Johnson & Johnson (NYSE:JNJ) is in focus after the company was ordered to pay out $4.7 billion to 22 women who said the company's talc products contained asbestos and caused ovarian cancer. JNJ shares had been rallying back since a recent bottom near $120, but they're down 2% ahead of the open -- and far below their January all-time high above $148.
3. McDonald's Corporation (NYSE:MCD) is another blue-chip stock that is trading lower before the open on negative news, off 1% amid reports of potential foodborne illnesses linked to salads sold at some the company's Midwest restaurants. MCD stock is also off its highs from early in the year, and is now testing the mettle of its historically supportive 320-day moving average.
4. Shifting back to bank earnings, Wells Fargo & Co (NYSE:WFC) stock is trading 3% lower before the open due to disappointing second-quarter profits and revenue. The equity is on track to start the session back below the $56 level that's acted as resistance and support several times in the past year.
5. Atlanta Fed President Raphael Bostic is expected to speak, while PNC Financial (PNC) is another name in the earnings spotlight today. Next week, second-quarter earnings season kicks into high gear.

Japanese Stocks Jump as Yen Sinks

It was a mostly higher finish in Asia, with Tokyo stocks outperforming their regional peers. Japan's Nikkei tacked on 1.9%, as the yen hit a six-month low against the U.S. dollar and Uniqlo parent Fast Retailing surged 7% after earnings. Hong Kong's Hang Seng and South Korea's Kospi gained ground, too, adding 0.2% and 1.1%, respectively. The Shanghai Composite bucked the bullish trend, though, settling down 0.2% following a report that showed China's trade surplus with the U.S. hit a record $28.97 billion last month.

European benchmarks are positive at midday, with the tech sector helping to boost the broader market. Among individual indexes, London's FTSE 100 is up 0.4%, as the pound cools following an interview where U.S. President Donald Trump criticized Prime Minister Theresa May's Brexit plan. Elsewhere, the German DAX and French CAC 40 are also boasting 0.4% gains.

Stocks are looking to end the week strong, despite mixed reactions to this morning's batch of big bank earnings. The Dow Jones Industrial Average (DJI) edged past the 25,000 level earlier today, marking the first time the blue-chip index has seen the north side of the psychologically significant level since June 18. Not to be outdone, the S&P 500 Index (SPX) is attempting to close north of 2,800 for the first time on a weekly basis since late January -- prior to the stock market correction -- while the Nasdaq Composite (IXIC) topped out at a record high in intraday action.

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

• 3 FAANG stocks hitting record highs today.
• The drug stock bouncing from an all-time low.
• Plus, a big bearish options bet on China; the software stock up 50%; and Netflix tests a key trendline.

One name seeing notable options trading today is the iShares China Large-Cap ETF (FXI), where more than 54,000 puts have been traded -- double what's typically seen at this point, and nearly 26 times the number of calls on the tape. One trader apparently bought to open 14,000 October 40 puts for about $1.13 million (number of contracts * $0.81 premium paid * 100 shares per contract), betting on the fund to breach the strike by October expiration. FXI is down 0.5% at $42.72, but hasn't traded below $40 since last July.

ShiftPixy Inc (NASDAQ:PIXY) is one of the best Nasdaq stocks so far today, after the software developer said it expects fiscal third-quarter revenue to more than double year-over-year to $9.4 million, and for its per-share loss to arrive at a slimmer 6 cents. PIXY stock is up 58.4% at $4.34 -- edging past its March 7 bull gap high, sparked by the company's blockchain news.

Netflix, Inc. (NASDAQ:NFLX) is making a notable move lower today, with the FAANG stock down 2.9% at $401.38 -- on track for a second straight down day, and the first close below its 20-day moving average since early May. The streaming giant is scheduled to report second-quarter earnings after Monday's close, and saw its price target lifted to $400 from $324 at BMO overnight.

The Dow jumped at the open and never looked back, as strong days for consumer staples stocks Procter & Gamble (PG) and Walmart (WMT) helped lift the blue-chip index to its fourth straight win. The S&P also brought its daily win streak to four on a positive earnings reaction for PepsiCo (PEP). Meanwhile, the Nasdaq lost steam in afternoon trading, but still eked out a win, though the Russell 2000 Index (RUT) closed lower, after touching an all-time peak in intraday action.

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

• Maxim says to buy this penny stock.
• This solar stock could be ripe for a short squeeze.
• Behind today's surge in Stitch Fix options volume.
• Plus, Tesla's big move in China; the energy stock flashing a bullish options signal; and iRobot gets downgraded.

The Dow Jones Industrial Average (DJI - 24,919.66) came within striking distance of the 25,000 mark today, closing up 143.1 points, or 0.6%. Procter & Gamble paced the 25 advancers with its 2.5% gain, while Walgreens Boots Alliance (WBA) led the four decliners with its 0.8% loss. American Express (AXP) finished flat.

The S&P 500 Index (SPX - 2,793.84) settled near its session high, up 9.7 points, or 0.4%. The Nasdaq Composite (IXIC - 7,759.20) was up more than 21 points at its intraday peak, before closing with a slimmer 3-point, or 0.04%, gain.

The Cboe Volatility Index (VIX - 12.64) edged down 0.05 point, or 0.4%.

5 Items on Our Radar Today

1. A U.S. federal judge has ruled in favor of allowing lawsuits alleging chemical company Monsanto's Roundup causes cancer. Monsanto was bought out by Germany's Bayer in early June. (Reuters)
2. The number of job openings in the U.S. fell to 6.64 million from a record high 6.84 million in May, according to the Labor Department's Job Openings and Labor Turnover Survey (JOLTS). The report also showed the "quits rate" among workers rose to 2.4% -- its highest point since 2001.  (MarketWatch)
3. Tesla stock rose today on news the car company is building a high-capacity plant in China.
4. This energy stock just flashed a bullish options signal.
5. iRobot stock got downgraded at Raymond James on valuation concerns.

Data courtesy of Trade-Alert

Dollar Puts Pressure on Gold Prices

Oil prices got a boost, as reports of worker strikes in Norway and Gabon eased fears of a global supply glut. At the close, August-dated crude was up 26 cents, or 0.4%, at $74.11 per barrel.

Gold futures retreated as the U.S. dollar gained ground. Gold for August delivery shed $4.20, or 0.3%, to settle at $1,255.40 an ounce.

A lackluster start to earnings season didn't stall the stock market's momentum, with the Dow clawing back above 25,000 and the S&P 500 closing north of the 2,800 mark for the first time since early February. The Nasdaq, meanwhile, managed a record high close, though the index briefly traded in the red on news Amazon may be wading into the networking equipment business. Nevertheless, the Dow, S&P, and Nasdaq all finished the week higher -- though the former is on track to send up a signal not seen since before the financial crisis.

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

• 25 trading ideas for pre-earnings options buyers.
• History says to sell this oil stock ahead of earnings.
• Plus, 3 volatile healthcare stocks; Tableau Software stock could be headed to record highs; and the oversold penny stock that bounced.

The Dow Jones Industrial Average (DJI - 25,019.41) added 94.5 points, or 0.4%, for its first close north of 25,000 since June 15. Twenty Dow stocks closed higher, led by a 2% pop for Walgreens Boots Alliance (WBA). Cisco Systems (CSCO) paced the 10 decliners with its 4.1% drop. For the week, the DJI jumped 2.3%.

The S&P 500 Index (SPX - 2,801.31) tacked on 3 points, or 0.1%, while the Nasdaq Composite (IXIC - 7,825.98) added 2.1 points, or 0.03% -- with the latter hitting a record intraday high of 7,843.53. Week-over-week, the SPX rose 1.5%, while the IXIC gained 1.8%.

The Cboe Volatility Index (VIX - 12.18) gave back 0.4 point, or 3.2%, for its lowest settlement since June 15. The market's "fear gauge" slid 8.9% on the week.

5 Items on Our Radar Today

1. Twelve Russian intelligence officials were indicted by a U.S. grand jury on allegations of interfering in the 2016 presidential election. The charges brought forth by Special Counsel Robert Mueller include hacking into computers at the Democratic National Committee and campaign of Democratic presidential nominee Hillary Clinton. (Reuters)
2. The U.S. Commerce Department has lifted its ban on domestic companies selling supplies to China telecom ZTE. The seven-year ban first went into effect in April, with the Trump administration saying the company violated sanctions on Iran and north Korea. (The Verge)
3. These 3 healthcare stocks made big moves in today's trading.
4. A reliable options signal is pointing to new highs for Tableau Software stock.
5. This oversold penny stock bounced from record-low territory.

Data courtesy of Trade-Alert

Crude Oil, Gold Suffer Weekly Losses

Oil prices pared their weekly losses today, with August-dated crude futures adding 68 cents, or 1%, to settle at $71.01 per barrel. For the week, the front-month contract still logged a 3.8% loss on global supply concerns.

A strengthening dollar and a rally in equities dimmed gold's safe-haven appeal, with gold for August delivery shedding $5.40, or 0.4%, to settle at $1,241.20 an ounce -- its lowest settlement since last July. The malleable metal gave back 1.2% on the week.

Dow Jones Industrial Average (DJI) futures are signaling a slightly positive start to the week. Earnings will continue to dominate the headlines, with financial firms Bank of America (BAC) and BlackRock (BLK) reporting quarterly results this morning. Then, after the close, Netflix (NFLX) will unveil its second-quarter numbers, while fellow FAANG stock Amazon (AMZN) could be in focus as its annual Prime Day gets underway this afternoon.

There's plenty else to hold investor attention in the meantime, including the much-anticipated meeting between U.S. President Donald Trump and Russian leader Vladimir Putin, as well as today's economic data. Specifically, retail sales for June rose 0.5% to match expectations, and the Empire State manufacturing index dipped in July. Elsewhere, oil prices are extending last week's retreat, with August-dated crude futures down 2.2% at $69.42 per barrel.

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

• A 7-figure bet against large-cap Chinese stocks.
• 3 healthcare stocks that made massive moves Friday.
• Plus, the surging bank stock; Arconic shares take off; and pre-earnings analyst attention on Netflix.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Friday, compared to 679,760 put contracts. The single-session equity put/call ratio rose to 0.62, while the 21-day moving average edged up to 0.60.
2. Shares of troubled Deutsche Bank AG (NYSE:DB) are set to rebound in a big way today, after the Germany-based financial giant announced upbeat preliminary results for the second quarter. The stock is trading up almost 7% before the open, which would put it near the $12 mark for the first time since May. Shares of DB started 2018 near $19.
   
3. Alcoa (AA) spinoff Arconic Inc (NYSE:ARNC) has risen 12% in pre-market trading, thanks to a Wall Street Journal report that the company has drawn takeover interest from private equity firms. Meanwhile, the aerospace parts supplier just announced a major multi-year deal with Boeing (BA), as well as a 3-D printing collaboration with Lockheed Martin (LMT). To top it all off, Jefferies called ARNC stock a "buy."
4. Ahead of earnings this afternoon, Netflix is again seeing mixed analyst attention. Buckingham Research downgraded the streaming stock to "underperform" from neutral," citing stronger international competition and "underwhelming" content. Citigroup also weighed in cautiously, saying a strong U.S. dollar could weigh on the company's third-quarter guidance. SunTrust Robinson and Susquehanna, meanwhile, both raised their price targets to $415. NFLX closed Friday at $395.80.
5. Business inventories are due out today, too. J.B. Hunt (JBHT) earnings also came out this morning.

Asian Markets Slip After Chinese GDP Data

It was a mostly lower finish in Asia today, after data showed China's economy grew 6.7% in the second quarter. While this was in line with the consensus estimate, it was slightly lower than the 6.8% first-quarter growth rate. Along similar lines, industrial production slowed to 6% in June from 6.8% in May. The Shanghai Composite fell 0.6% and South Korea's Kospi gave back 0.4%, though Hong Kong's Hang Seng eked out a 0.05% gain. Markets in Japan were closed for holiday.

European markets are trading in negative territory at midday, as mining stocks drop on the soft Chinese economic data. On the economic front, the trade surplus for the eurozone narrowed for a third straight month in May. At last check, London's FTSE 100 is off 1%, the French CAC 40 is down 0.3%, and the German DAX is 0.08% lower.

Stocks are trading close to breakeven today, as the Dow Jones Industrial Average (DJI) struggles to gain a foothold amid the advent of earnings season. Energy stocks are lower with oil prices, offsetting big gains for bank stocks in the wake of the latest earnings reports from the financial sector. August-dated crude futures are down 3.9% at $68.21 per barrel, amid easing concerns about supply disruptions. Elsewhere, traders are watching a joint press conference between President Donald Trump and Russian leader Vladimir Putin, the latter of which denied meddling in the 2016 presidential election.

Against this backdrop, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are in the red, even with Amazon.com (AMZN) in focus ahead of its vaunted Prime Day, and fellow FAANG stock Netflix (NFLX) preparing for its turn in the earnings confessional after the close. 

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

• Analyst: Avoid these REITs this earnings season.
• UBS chimed in on these 2 shipping stocks.
• Plus, options bulls race to First Solar stock; AMD boosted by bull note; and Tesla stock sinks in the wake of Elon Musk's Twitter rampage.

One name seeing notable options trading today is First Solar, Inc. (NASDAQ:FSLR), where more than 14,000 calls have been traded -- three times what's typically seen at this point, and volume pacing for the 99th percentile of its annual range. Leading the charge today is the August 50 call, with over 10,000 contracts exchanged, and it seems options traders are hoping for another post-earnings move higher ahead of the company's report on July 26. First Solar stock has shed 20% in 2018, and has recently found resistance around the $56 region. At last check, FSLR shares are fractionally higher at $54.11.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the best S&P 500 stocks so far today, up 4.2% to trade at $16.82, after Stifel upped its price target on the chipmaker to $21 from $17 -- territory AMD has not seen since 2007. The analyst noted that the AMD could steal some of the PC and server CPU market share from rival Intel (INTC) in 2019. AMD stock has been red-hot in 2018, adding 64% and relying on support from its 30-day moving average.

Tesla Inc (NASDAQ:TSLA) is struggling today, one of the worst stocks on the Nasdaq, as the stock is hit with blowback from CEO Elon Musk's recent controversial remarks. Musk took to Twitter over the weekend to attack a British diver following the rescue of 12 Thai boys and their soccer coach, and the spelunker is now reportedly considering legal action. Tesla stock is now trading below its year-to-date breakeven point, and has shed 13% in the last month. At last check, TSLA shares are 3.3% lower at $308.44.

A major post-earnings sell-off from Netflix (NFLX) is set to weigh on the broader stock market this morning. Futures on the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are trading slightly below fair value, but the tech-heavy Nasdaq-100 Index (NDX) is set for a more notable drop when the market opens.

NFLX is far from the only name in the earnings spotlight, however. In fact, blue chip UnitedHealth (UNH) is set for a lower open after its quarterly report, while Goldman Sachs (GS) and Johnson & Johnson (JNJ) are pointed higher. Wall Street will also have to keep an eye on the economic calendar, which today features housing data and industrial production numbers, and Fed Chair Jerome Powell will testify before the Senate Banking Committee.

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

• Our trader explains the sector rotation stock bulls want to see.
• How options traders have been piling on AMD stock.
• Why gene editing stocks sold off yesterday.
• Plus, 3 stocks moving on earnings; IGT rises on a sports betting agreement; and the penny stock ready to double.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 858,956 million call contracts traded on Monday, compared to 604,182 put contracts. The single-session equity put/call ratio rose to 0.70, while the 21-day moving average ticked up to 0.61.
2. Taking a closer look at this morning's earnings news, NFLX is down almost 13% in electronic trading on a big miss for domestic subscriber growth, proving bearish analysts right. UNH stock is also lower, down 1.9% before the open, despite better-than-expected earnings and a raised outlook. On the other hand, JNJ earnings topped expectations, as the shares try to come back from a recent negative court decision.
   
3. International Game Technology PLC (NYSE:IGT) stock is up more than 7% in pre-market trading, after the company announced a sports betting agreement in New Jersey with fantasy sports expert FanDuel. The move comes as companies continue to adjust to the Supreme Court decision on sports betting from two months ago. IGT settled Monday at $24.40.
4. IT issue Ameri Holdings Inc (NASDAQ:AMRH) is set to double in value at the open, thanks to news the company landed a big project from MedData. The shares made a huge -- though brief -- move back in January thanks to the company's push into blockchain. AMRH closed at $1.18 on Monday.
5. The National Association of Home Builders (NAHB) housing market index is set to be unveiled, while Treasury International Capital (TIC) data will be released right at the market close. ADTRAN (ADTN), Charles Schwab (SCHW), CSX (CSX), Kinder Morgan (KMI), Progressive (PGR), and United Continental (UAL) will step into the earnings confessional, as well.

Stocks in Asia, Europe Slide

Most Asian markets got hit today, as tumbling global oil prices weighed on the energy sector. Hong Kong's Hang Seng gave back 1.3%, China's Shanghai Composite shed 0.6%, and South Korea's Kospi closed down 0.2%. Japan's Nikkei bucked the regional trend lower, though, adding 0.4% on a weakening yen.

Stocks in Europe are modestly lower at midday, as traders digest a fresh round of corporate earnings reports and the International Monetary Fund's downwardly revised growth forecasts for the U.K. and the eurozone. Among individual names making big post-earnings moves is Swedish-based chainsaw maker Husqvarna, which has shed 18% so far today. Looking at indexes, the French CAC 40 is down 0.4%, the German DAX is off 0.2%, and London's FTSE 100 is flirting with a 0.09% loss.

Stocks have erased early losses today, as the Dow Jones Industrial Average (DJI) sits modestly higher amid an onslaught of earnings reports from the likes of Goldman Sachs (GS), Johnson & Johnson (JNJ), and UnitedHealth (UNH). The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are cautiously higher as well, despite a sharp pullback from FAANG giant Netflix (NFLX) after earnings. Helping to stem the tide in the bulls' favor has been testimony from Fed Chair Jerome Powell, who told the Senate Banking Committee that the U.S. economy is on the brink of "several years" of strong employment and inflation near 2%, and that he supports "gradually raising the federal funds rate." 

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

• Intel stock was hit with a downgrade ahead of earnings.
• This drug stock is headed for its worst day since 2013.
• Plus, options bears race to Nordstrom stock before earnings next month; and two Dow stocks with distinctly different post-earnings reactions.

One name seeing notable options trading today is Nordstrom, Inc. (NYSE:JWN), where more than 2,700 puts have traded -- five times what's typically seen at this point, and volume pacing for the 96th percentile of its annual range. Leading the charge today is the August 55 put, with over 2,300 contracts exchanged, and it seems options traders are hoping for another post-earnings move lower ahead of the company's report on Aug. 16 -- a day after August options expire. Nordstrom stock is down 1.1% to trade at $51.86 this morning, but has gained almost 10% year-to-date.

Johnson & Johnson (NYSE:JNJ) is the best Dow stock so far today, up 3.6% to trade at $129.21, after the pharma giant reported second-quarter earnings and revenue above analyst expectations, citing strong sales of its rare disease treatments and cancer drugs. While the Dow stock is now on track for its best day since January 2016, it has still shed 7.3% in 2018.

On the other end of the spectrum is UnitedHealth Group Inc (NYSE:UNH), the worst Dow stock today and down 3.5% to trade at $249.48, despite a second-quarter earnings beat. Traders are seemingly reacting to the insurer's medical loss ratio (MLR), which missed expectations. Nevertheless, UnitedHealth stock has gained 13% in 2018, and today's pullback has so far been contained by its 50-day moving average.