Dow Jones Industrial Average (DJI) futures are trading above fair value this morning, as a strong round of corporate earnings is set to lift stocks. Leading the way is an impressive earnings report from Google parent Alphabet (GOOGL), which could provide tailwinds for FAANG stocks and the broader tech sector. Meanwhile, blue chips 3M (MMM), United Technologies (UTX), and Verizon (VZ) have also released quarterly reports this morning, with shares of the latter trading sharply higher before the open.

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

• Our trader breaks down some of this market's mixed messages.
• The e-commerce stock flashing "buy" before earnings.
• Amazon stock sank after the latest Trump attack.
• Plus, earnings deliver for Verizon bulls; Harley-Davidson beats; and Lockheed tries to come back.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.04 million call contracts traded on Monday, compared to 567,194 put contracts. The single-session equity put/call ratio fell to 0.55, while the 21-day moving average came in at 0.61.
2. VZ shares are up 2.6% before the open, which'll put them near the $52 area that's blocked the previous two breakout attempts. The company's second-quarter earnings and revenue were better than expected, driven by a surprisingly strong increase in monthly subscribers. The results seem to confirm the beliefs of a number of analysts that had turned bullish on Verizon this year.
   
3. Harley-Davidson Inc (NYSE:HOG) has struggled this year amid the tariff wars, falling 18.5% to last night's close of $41.45. However, the company topped expectations with its second-quarter results, and HOG stock is up 3.6% before the open. That's bad news for short sellers, who control almost 10% of the float.
4. Also on the earnings front, defense giant Lockheed Martin Corporation (NYSE:LMT) is up almost 3% in pre-market trading. The company's profit for the second quarter was above forecasts, and it also raised its full-year outlook. LMT stock got off to a hot start in 2018, but in recent months the price action has been weak. For example, it closed Monday at $318.33, compared to a record high of $363 from February.
5. Today we will see the release of Markit's flash composite purchasing managers index (PMI). AT&T (T), Biogen (BIIB), Centene (CNC), Eli Lilly (LLY) iRobot (IRBT), JetBlue (JBLU), Kimberly-Clark (KMB), Las Vegas Sands (LVS), Lockheed Martin (LMT), PACCAR (PCAR), Quest Diagnostics (DGX), and Sherwin-Williams (SHW) make up the earnings calendar.

Stimulus Plans Boosts Chinese Markets

Markets closed strong in Asia today, with Chinese stocks leading the charge. Specifically, the Shanghai Composite surged 1.6%, after the country's State Council proposed several stimulus measures to boost the economy -- including increased infrastructure spending. Hong Kong's Hang Seng also had a big day, adding 1.4%, while Japan's Nikkei and South Korea's Kospi each tacked on 0.5%.

Stocks in Europe are higher at midday, with traders cheering the news out of China. Plus, a round of strong quarterly results is helping lift investor sentiment, with Swiss bank UBS and French car maker Peugeot among those trading higher after earnings. At last check, the German DAX is 1.5% higher, the French CAC 40 is up 1%, and London's FTSE 100 is enjoying a 0.9% lead.

Stocks are roaring higher today as investors cheer a host of upbeat corporate earnings. The Dow Jones Industrial Average (DJI) is up nearly 200 points and on track to snap a three-day skid, thanks to strong reports from blue chips United Technologies (UTX) and Verizon (VZ). Caterpillar (CAT) is also notably higher amid reports the White House will soon announce plans for emergency aid for U.S. farmers impacted by tariffs, despite President Donald Trump's morning tweet that "Tariffs are the greatest!" The tech-rich Nasdaq Composite (IXIC) is the big winner today, though, racing to a record high on the strength of Google parent Alphabet (GOOGL) and its outstanding earnings report. Elsewhere, oil prices continue to climb, with September-dated crude futures up $1.02, or 1.5%, at $68.91 per barrel, at last check.  

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

• Analyst: This media stock could explode after earnings.
• This semiconductor stock is ripe for a short squeeze.
• Plus, options bulls flock to surging Deere stock; AK Steel stock enjoys a halo lift; and Quest Diagnostics stock sinks on dismal earnings.

One name seeing notable options trading today is Deere & Company (NYSE:DE) , where nearly 13,000 calls have traded -- double what's typically seen at this point, and volume pacing for the 96th percentile of its annual range. Among the most active today are the weekly 7/27 135- and 136-strike calls, where it appears new bullish positions are being opened. Shares of the farm machinery manufacturer are up 3.9% to trade at $140.92 today, amid expectations for the White House to soon announce an aid package for U.S. farmers.

AK Steel Holding Corporation (NYSE:AKS) is one of the better stocks on the New York Stock Exchange (NYSE) today, up 5.8% to trade at $5.31, likely getting a halo lift from excellent earnings from sector peer Steel Dynamics (STLD). Although AK Steel stock still is staring at a 6% deficit in 2018, the stock is set to close above its 200-day moving average for the first time since early-March.

Quest Diagnostics Inc (NYSE:DGX) is near the bottom of the S&P 500 today, down 6.9% to trade at $107. The healthcare company reported second-quarter revenue that fell short of analyst expectations, while revising its fiscal-year outlook. DGX stock is on track for its worst day since Sept. 25. The shares, which touched a record high of $116.49 on June 25, are set to breach their 60-day moving average for the first time since late May.

Dow Jones Industrial Average (DJI) futures are trading below fair value this morning, following a mostly disappointing round of earnings on Wall Street. Dow component Boeing (BA) is set to open sharply lower, after the company issued a tepid outlook for the rest of the year, and it's a similar setup for automaker General Motors (GM), which slashed its full-year forecast on higher aluminum and steel prices as a result of recent tariffs.

Speaking of which, trade tensions could continue to grab headlines today, with President Donald Trump set to speak with European Commission President Jean-Claude Juncker this afternoon. Corporate earnings will likely remain the bigger story, however, with names like Visa (V) and Facebook (FB) reporting after the bell.

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

• 10 perfect stocks for contrarian traders, courtesy of Schaeffer's Senior Quantitative Analyst Rocky White.
• 2 healthcare stocks analysts love.
• How options traders reacted to Riot Blockchain's rise.
• Plus, another deal in the genetics space; UPS e-commerce demand drives earnings; and Waymo expands self-driving services.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.03 million call contracts traded on Tuesday, compared to 647,937 put contracts. The single-session equity put/call ratio settled at 0.63, while the 21-day moving average edged up to 0.62.
2. GlaxoSmithKline Plc (NYSE:GSK) reported earnings, and the pharma firm said it struck a four-year collaboration with DNA company 23andMe to develop medicines using human genetics. The deal includes a $300 investment from GSK, and has the option to be extended to a fifth year. GSK stock is up 16.2% in 2018, closing Tuesday at $41.21. The shares are 1.3% higher ahead of the bell.
   
3. United Parcel Service, Inc. (NYSE:UPS) stock is up 0.7% before the open, after the company reported stronger-than-expected earnings thanks to rising e-commerce demand. UPS stock has struggled in 2018, gapping lower shortly after its January record high near $136, and failing to recover despite recent bullish attention from analysts.
4. Alphabet Inc's (NASDAQ:GOOGL) Waymo is partnering with more companies to expand its self-driving car services. The company just announced deals with Walmart and Avis, among others, for the Phoenix area, with specific services tied to each company. GOOGL shares closed at $1,258.15 yesterday after hitting an all-time high after earnings.
5. New home sales and the weekly crude inventories update will hit the Street today. Coca-Cola (KO), Advanced Micro Devices (AMD), Ford Motor (F), Freeport-McMoRan (FCX), GrubHub (GRUB), Hilton Hotels (HLT), Mattel (MAT), Norfolk Southern (NSC), PayPal (PYPL), and Qualcomm (QCOM) are expected to report earnings.

European Stocks Slip Ahead of Trump-Juncker Meeting

Markets in Asia finished mixed today. On the plus side, Japan's Nikkei added 0.5%, as metal stocks rallied on hopes of a Beijing stimulus plan. Hong Kong's Hang Seng also gained ground, rising 0.9%, as tech and financial shares surged. However, China's Shanghai Composite snapped its three-day win streak to close down 0.04%, while South Korea's Kospi gave back 0.3%.

European stocks are lower at midday, as caution sets in ahead of the Trump-Juncker trade meeting. Investors are also panning the latest round of corporate earnings, with shares of Deutsche Bank lower after the German lender's results, and LVMH stock higher on a positive reaction to the French retailer's report. At last check, London's FTSE 100 is down 0.8%, the French CAC 40 is off 0.1%, and the German DAX is down 0.7% -- even as the Ifo business climate index for July came in at a better-than-expected 101.7.

Stocks are a mixed bag today, with the Dow Jones Industrial Average (DJI) down on subpar guidance from blue-chip Boeing (BA). The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are modestly higher, however, as a solid day for tech stocks overshadows a rough day for automakers, following ugly guidance from General Motors (GM). Looking ahead, social media giant and FAANG member Facebook (FB) will report earnings after the close today.

Elsewhere, President Donald Trump will speak with European Commission President Jean-Claude Juncker this afternoon, putting trade tensions back into the spotlight. Meanwhile, the Commerce Department said new home sales fell to an eight-month low in June, and the pace of May sales was revised lower.

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

• The streaming stock downgraded ahead of earnings.
• Crocs stock finally received some analyst love.
• Plus, options bears target a Harley-Davidson stock pullback; GrubHub toasts a huge earnings beat; and Ford stock sinks with sector peers.

One name seeing notable options trading today is Harley-Davidson Inc (NYSE:HOG), where 4,519 puts have traded -- three times what's typically seen at this point, and volume pacing for the 95th percentile of its annual range. Among the most active today are the weekly 8/10 40 - and 44.50-strike puts, where it appears new bearish positions are being opened. Shares of the motorcycle name are down 2.9% to trade at $43.30 today, pulling back with auto stocks, after reporting upbeat quarterly results yesterday. Overall, HOG has shed 15% in 2018.

GrubHub Inc (NYSE:GRUB) is one of the best stocks on the New York Stock Exchange (NYSE) today, up 21.3% to trade at $132.27, and earlier touching a record high of $133, after the food delivery company reported second-quarter earnings and revenue beyond analyst expectations. It also forecast stronger-than-expected current-quarter sales. GRUB is on track for its best day since Feb. 8, and has now nearly tripled in the last 12 months.

Ford Motor Company (NYSE:F) is near the bottom of the S&P 500 today, down 3.7% to trade at $10.18, and just off a five-year low of $10.12. The auto stock is feeling the pressure from sector peers GM and Fiat Chrysler (FCAU), which both slashed their fiscal-year earnings forecasts. Ford reports its own second-quarter earnings after the close today.

The Dow was down nearly 130 points at its intraday low, as a negative earnings reaction for Boeing (BA) pressured the blue-chip index. However, the Dow swung higher in the last hour of the session, amid reports of positive trade talks between U.S. President Donald Trump and European Commission President Jean-Claude Juncker. The European Union (EU) allegedly agreed to lower industrial tariffs and increase imports of American soybeans. It was a similar scenario for the S&P, which brushed off stiff headwinds from General Motors (GM) to close higher, while the Nasdaq nabbed a record close as tech stocks soared.

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

• Citron: This stock is the "next great drug short."
• The options market is pricing in a big Amazon earnings reaction.
• GM's sell-off puts Ford stock at risk for bear notes.
• Plus, options traders blasted this new Amazon partner; 2 biotechs ready to bounce; and behind the Spotify downgrade.

The Dow Jones Industrial Average (DJI - 25,414.10) explored a 319-point trading range on both sides of breakeven, eventually closing up 172.2 points, or 0.7%. Twenty-five Dow stocks closed higher, led by a 2.9% gain for Microsoft (MSFT). Verizon (VZ) led the five decliners with its 1.2% drop.

The S&P 500 Index (SPX - 2,846.07) added 25.7 points, or 0.9%, for its highest close since Jan. 29. The Nasdaq Composite (IXIC - 7,932.24) hit a record intraday high of 7,933.31 in the final minutes of trading, before settling with a slimmer 91.5-point, or 1.2%, gain.

The Cboe Volatility Index (VIX - 12.29) slipped 0.1 point, or 1%.

5 Items on Our Radar Today

1. U.S. National Security Advisor John Bolton said a proposed meeting between President Donald Trump and Russian President Vladimir Putin won't happen until "after the first of the year." Trump initially suggested Putin visit this fall, after the two met last week in Helsinki. (MarketWatch)
2. Qualcomm (QCOM) is reportedly going to throw in the towel on its bid for semiconductor firm NXP Semiconductors (NXPI). According to sources, this is in anticipation the purchase will not be approved by Chinese regulators, and QCOM is expected to use the funds to buy back shares. (CNBC)
3. News of a fresh partnership with Amazon had options traders making a beeline to this stock.
4. These 2 biotechs are trading near historically bullish trendlines.
5. 2 reasons Pivotal Research Group downgraded Spotify stock.

Data courtesy of Trade-Alert

Gold Pops as Dollar Eases

A bigger-than-expected decline in weekly crude inventories boosted oil prices today. At the close, September-dated crude was up 78 cents, or 1.1%, at $69.30 per barrel.

Gold gained ground today as the greenback cooled. Gold for August delivery rose $6.30, or 0.5%, to settle at $1,231.80 an ounce.

Dow Jones Industrial Average (DJI) futures are trading above fair value this morning, thanks to lingering optimism about a U.S.-Europe trade deal, but the Nasdaq-100 Index (NDX) is set to nosedive due to Facebook's (FB) disappointing quarterly results. Shares of FB were last seen 21% lower in pre-market trading -- on pace for their worst day ever -- after the company reported lower-than-expected revenue and warned on profit margins. This could weigh on other tech giants, including Amazon (AMZN), which is set to report after the close. Also on the earnings front, McDonald's (MCD) is edging lower after its second-quarter report, while fellow blue chip Intel (INTC) will join AMZN in the earnings booth post-close.

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

• The stock that exploded on an Amazon partnership.
• Walmart slipped despite a self-driving car deal.
• Buy the dip on these biotechs.
• Plus, Trump threatens Twitter; Spotify falls; and international growth lifts Under Armour.

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 619,039 put contracts. The single-session equity put/call ratio moved down to 0.61, while the 21-day moving average held at 0.62.
2. On top of headwinds from Facebook's sell-off, fellow social media stock Twitter Inc (NYSE:TWTR) is feeling heat from President Donald Trump, who this morning tweeted about the company "shadow banning" Republicans and said "we will look into this." TWTR shares have been edging lower since their three-year high of $47.79 on June 15, but may find support at the 50-day moving average. The stock is pointed 3.5% lower ahead of the bell.
   
3. Spotify Technology (NYSE:SPOT) stock was down more than 5% in pre-market trading, but has since turned 2% higher. Traders are digesting a slowdown in revenue growth vs. solid subscriber growth. SPOT stock hit an all-time high of $190.80 just two days ago, and most analysts are bullish, though Pivotal Research was skeptical ahead of earnings.
4. On the other hand, Under Armour Inc (NYSE:UAA) is on the rise after earnings, set to open up 4.8%. The company reported better-than-expected revenue for the second-quarter, thanks to strong growth in Asia and Europe. UAA stock was already up more than 46% in 2018 coming into today, closing Wednesday at $21.08.
5. The economic calendar heats up today with updates on durable goods, international trade, and weekly jobless claims set for release. American Airlines (AAL), CME (CME), Chipotle (CMG), Comcast (CMCSA), Deckers Outdoor (DECK), Dunkin Brands (DNKN), Electronic Arts (EA), First Solar (FSLR), Hershey (HSY), Mastercard (MA), PulteGroup (PHM), Southwest Airlines (LUV), Starbucks (SBUX), and Tractor Supply (TSCO) will unveil earnings.

European Stocks Mixed as Draghi Takes the Mic

It was a mostly negative finish in Asia today, with Chinese stocks leading the path lower following Wednesday's U.S.-European Union (EU) trade announcement. The Shanghai Composite closed down 0.7%, while Hong Kong's Hang Seng fell 0.5%. Japan's Nikkei also slipped, shedding 0.1% as Eisai plunged on news the U.S. Food and Drug Administration (FDA) will require more testing for the drugmaker's Alzheimer's study. South Korea's Kospi bucked the bearish trend, adding 0.7% on a positive earnings reaction for chipmaker SK Hynix.

European markets are mixed at midday, as traders digest the Trump-Juncker trade deal and the results from the European Central Bank (ECB) meeting, which chose to stand pat on interest rates. A press conference from ECB President Mario Draghi is now underway. At last check, the German DAX is up 1.3% as automakers rally, and the French CAC 40 is 0.3% higher. London's FTSE 100, meanwhile, is down 0.09% on a negative earnings reaction for oil name Royal Dutch Shell.

The Dow Jones Industrial Average (DJI) is up triple digits today, and heading toward its highest close in five months, thanks to optimism about trade talks between the U.S. and European Union (EU). However, the big story of the day is Facebook (FB), on track for its worst day ever following lower-than-expected revenue and a warning about profit margins. The dismal results have sent the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) lower, dragging down fellow FAANG stocks like Amazon (AMZN) -- set to release its own earnings report tonight. Nevertheless, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), is lower and on track for its fifth straight loss, which would mark its longest losing streak since May.

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

• Muddy Waters: This company is "misleading investors."
  
• Citrix Systems stock burns bears once again.
• Plus, options bears target a Hertz stock pullback; AMD toasts a huge earnings win; and Biogen stock eyes its worst day in two years.

One name seeing notable options trading today is Hertz Global Holdings Inc (NYSE:HTZ), where nearly 3,000 puts have traded -- double what's typically seen at this point. Among the most active today is the August 12 put, where it appears most of the activity is of the buy-to-open variety. Shares of the rental name are up 1.9% to trade at $14.58 today, and it looks like the traders are targeting a pullback after Hertz reports earnings in early August.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the best stocks on the S&P 500 today, up 12% to trade at $17.97, and earlier touching an 1--year high of $17.98, after the semiconductor concern reported second-quarter earnings and revenue beyond analyst expectations. A flurry of analysts chimed in with price-target hikes, including to $21 from $19 at Craig-Hallum. AMD has now added roughly 75% in 2018, and is on track for its best day since April 26.

Biogen Inc (NASDAQ:BIIB) is near the bottom of the Nasdaq today, down 8.9% to trade at $347.83, on track for its worst day since June 2016. Although the stock gapped higher on Tuesday on the back of a beat-and-raise, the biotech name is down today after its Alzheimer's drug data did not impress investors. BIIB raced to a three-year high of $388.67 yesterday, but today's pullback has the shares set to close below their 10-day moving average, a trendline that has alternated between support and resistance all year.

Today's stock market headlines centered around a devastating reaction to Facebook earnings, with the FAANG stock suffering its worst day on record -- and slicing roughly $120 billion off its market cap. This offset a strong day for the semiconductor sector, and sent both the Nasdaq and S&P 500 to daily losses. It was an entirely different session for blue chips, though, with the Dow closing near its intraday highs amid big rallies for insurance name Travelers (TRV) and construction stock Caterpillar (CAT).

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

• Analyst: This Apple partner could rally 80%.
• Breaking down a $2.6 million options bet on chip stocks.
• Plus, AMD earnings impress; the metals stock surging on buyout buzz; and the REIT stock screaming "buy."

The Dow Jones Industrial Average (DJI - 25,527.07) spent the whole session in positive territory, closing up almost 113 points, or 0.4%. Twenty Dow stocks settled up, led by a 2.5% gain for TRV. McDonald's (MCD) paced the 10 decliners with its 1.7% loss.

The S&P 500 Index (SPX - 2,837.44) was in the red the entire day, down 8.6 points, or 0.3%, at the close. It was a similar story for the Nasdaq Composite (IXIC - 7,852.19), which surrendered 80 points, or 1%. 

The Cboe Volatility Index (VIX - 12.14) closed down 0.2 point, or 1.2%. It was the fifth straight loss for the market's "fear gauge."

5 Items on Our Radar Today

1. Advanced Micro Devices (AMD) reported second-quarter adjusted earnings of 14 cents per share on $1.76 billion in revenue -- more than analysts were expecting -- citing strong sales for its Ryzen desktop processors and Radeon graphic chips, and increasing demand for its EPYC server processors. AMD stock surged 14.5% to turn in its best day since Feb. 1, 2017, and hit an 11-year high of $18.45 in intraday action. (Reuters)
2. Shares of SuperValu (SVU) soared more than 65% today on news Whole Foods supplier United Natural Foods (UNFI) will buy the grocery chain in a roughly $2.9 billion deal, which includes debt. UNFI, on the other hand, plummeted 16.2% to its lowest close since September. (CNBC)
3. This metals stock jumped to its highest point since April on takeover chatter.
4. 3 reasons it could be time to buy this REIT stock.
5. Gilead's C-suite shift overshadowed the drugmaker's strong earnings report.

Data courtesy of Trade-Alert

Saudi Shipment Disruption Boosts Crude Oil

Oil prices gained today on news Saudi Arabia suspended crude shipments through the key Bab el-Mandeb strait after Houthi rebels reportedly attacked a pair of tankers. September-dated oil rose 31 cents, or 0.4%, to settle at $69.61 per barrel.

A strengthening dollar kept gold pinned near its year-to-date low. Gold for August delivery closed down $6.10, or 0.5%, at $1,225.70 an ounce.

U.S. stock futures are mixed this morning, as traders digest economic and earnings data. Most notably, second-quarter gross domestic product (GDP) matched expectations by rising 4.1%, marking the fastest quarterly growth rate since 2014. For earnings, Amazon (AMZN) is set to jump after reporting record quarterly profits, putting the company closer to a trillion-dollar market cap, while social media stock Twitter (TWTR) is selling off in pre-market action due to a big drop in monthly users. Meanwhile, Dow Jones Industrial Average (DJI) components Intel (INTC), Chevron (CVX), and Exxon Mobil (XOM) are all trading lower after earnings

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

• Why Nielsen shares could see their ratings on Wall Street fall in a hurry.
• This REIT stock could rebound soon.
• Plus, First Solar could breach a key level; Chipotle eyes a new high; and not much luck for Starbucks.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.19 million call contracts traded on Thursday, compared to 748,780 put contracts. The single-session equity put/call ratio moved up to 0.63, while the 21-day moving average stayed at 0.62.
2. First Solar, Inc.'s (NASDAQ:FSLR) second-quarter results fell short of Wall Street's expectations, sending the shares almost 8% lower in pre-market trading and putting them in danger of closing below the $50 level. FSLR stock was already down 20.5% year-to-date coming into today.
   
3. Chipotle Mexican Grill, Inc. (NYSE:CMG) is up more than 6% before the open, after the company topped most major metrics with its second-quarter results and full-year outlook. Such a move would have CMG shares near a fresh 52-week high.
4. On the other hand, a fiscal third-quarter earnings beat is failing to lift Starbucks Corporation (NASDAQ:SBUX), as investors instead focus on tepid sales growth and a weak outlook. SBUX has also been hit with at least three price-target cuts following the results, as the coffee stock continues to struggle.
5. The University of Michigan's consumer sentiment index and the Baker-Hughes rig count come out today, too. A busy week of earnings wraps up with Merck (MRK), AbbVie (ABBV), and Phillips 66 (PSX). Looking ahead, earnings from Apple (AAPL) and Tesla (TSLA) headline next week's schedule.

Positive Sessions For Asian, European Equities

It was a mostly higher finish in Asia today, as the U.S. dollar strengthened against its global currency peers ahead of today's GDP data. Japan's Nikkei led the charge, adding 0.6%, while Hong Kong's Hang Seng rose 0.08%, and South Korea's Kospi added 0.3%. China's Shanghai Composite wasn't so resilient, though, settling the session down 0.3%.

European markets are higher at midday, as traders digest the latest U.S. GDP and mining stocks rally on news BHP Billiton will sell its oil and gas assets to BP. A positive earnings reaction for grocery name Carrefour is also lifting investor sentiment -- and offseting a lower-than-expected reading on French second-quarter GDP. At last check, the German DAX and London's FTSE 100 are each sporting a 0.4% gain, while France's CAC 40 is flirting with a 0.3% lead.

The Dow Jones Industrial Average (DJI) is nearly flat at midday, as traders weigh an in-line reading on second-quarter gross domestic product (GDP) against a mixed bag of earnings -- including poorly received reports from blue chips Intel (INTC), down 8%, and Exxon Mobil (XOM), which has dropped 3%. In the tech sector, a Facebook-style post-earnings trip to the woodshed for Twitter (TWTR) is offsetting a robust quarterly showing from Amazon (AMZN).

As a result, the Dow and S&P 500 Index (SPX) are on track for weekly wins, while the Nasdaq Composite (IXIC) is set to finish the week in the red. Elsewhere, the Cboe Volatility Index (VIX) is higher, and poised to snap its five-day losing streak.

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

• Analysts chime in on another Chipotle earnings beat.
• The drug stock at record lows after a discounted share offering.
• Plus, options bears target a Seagate Technology stock pullback; Chesapeake Energy announces a $2 billion asset sale; and Intel's worst day since 2016.

One name seeing notable options trading today is Seagate Technology PLC (NASDAQ:STX), as more than 6,500 puts have traded -- three times the intraday norm, with put volume pacing in the 95th percentile of its annual range. Among the most active options today are the weekly 8/3 30- and 35-strike puts, where it appears most of the activity is of the buy-to-open variety. Shares of the tech firm are down 2.8% to trade at $55.92 today, so some of these traders may be picking up crash protection before Seagate reports earnings on Monday morning.

Chesapeake Energy Corporation (NYSE:CHK) is one of the best stocks on the New York Stock Exchange (NYSE) today, up 5.1% to trade at $4.62, after the oil-and-gas concern agreed to sell its Utica Shale stake for $2 billion. CHK stock scored an annual high of $5.60 on July 10, but has since pulled back -- and the stock's early advance on the $5 level today has fizzled, with CHK now back below its 50-day moving average. 

Intel Corporation (NASDAQ:INTC) is the worst Dow stock today, down 8.2% to trade at $47.67, on track for its worst day since January 2016. Although the chip name reported a second-quarter earnings and revenue beat, concerns remain over sector peer Advanced Micro Devices (AMD) eating into the growth of its data center chip business. INTC is set to close below its 200-day moving average for the first time since September. 

It was a broad-based advance for blue chips today, with United Technologies (UTX) rallying on earnings, Chevron (CVX) surging with oil prices, and Caterpillar (CAT) popping on talk of the Trump administration's farmer aid package. While the Dow surged triple digits, a positive earnings reaction for Google parent Alphabet (GOOGL) helped lift the S&P 500 and push the Nasdaq to a record high in intraday action -- though the tech-heavy index wasn't able to maintain its positive momentum into the close.

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

• AMD stock could be a buy ahead of earnings.
• Morgan Stanley set a lofty Apple price target.
• 8 price points to watch on housing stocks, courtesy of founder and CEO Bernie Schaeffer.
• Plus, 2 healthcare stocks with fresh "buy" ratings; FB call options get pricey before earnings; and the stock boosted by bitcoin.

The Dow Jones Industrial Average (DJI - 25,241.94) jumped at the open and never looked back, closing up 197.7 points, or 0.8%. Twenty-three Dow stocks settled in positive territory, led by a 3.8% gain for UTX. Nike (NKE) paced the six decliners with its 1.4% drop, while Visa (V) was unchanged.

The S&P 500 Index (SPX - 2,820.40) also spent the whole day in the green, and settled with a 13.4-point, or 0.5%, gain. The Nasdaq Composite (IXIC - 7,840.77) topped out at an intraday peak of 7,928.79, before shedding 1.1 points, or 0.01%.

The Cboe Volatility Index (VIX - 12.41) successfully tested the key 12 mark -- a floor for the market's "fear gauge" in recent months -- on an intraday basis, and pared its decline to 0.2 point, or 1.7%, by the close.

5 Items on Our Radar Today

1. Department of Homeland Security (DHS) officials said Russian hackers broke into control rooms of U.S. electric utility companies last year, initially gaining access through vendors. DHS said the cyberattack against the country's infrastructure system first began in early 2016, and is likely still occurring. (MarketWatch)
2. In a conference call today, Whirlpool (WHR) CEO Marc Bitzer said tariff uncertainty and the rising cost of raw materials contributed to the appliance maker's second-quarter earnings and revenue misses. WHR shares slumped 14.5%, and hit a two-year low in intraday trading. (Reuters)
3. Analysts initiated coverage on these 2 healthcare stocks with "buy" recommendations.
4. Short-term Facebook call options are pricing in a bigger-than-usual post-earnings swing.
5. A surge in bitcoin's price sent this stock near the top of the Nasdaq.

Data courtesy of Trade-Alert

Stock Market Surge Pressures Gold Prices

Oil prices rose today amid lingering tensions between the U.S. and Iran. Crude for September delivery added 63 cents, or 0.9%, to close at $68.52 per barrel.

Gold closed lower for a second straight session as a surging stock market lessened the metal's safe-haven appeal. August-dated gold settled down 10 cents at $1,225.50 an ounce.

The U.S. stock market started the day in positive territory as traders cheered the biggest gross domestic product (GDP) reading in four years. However, this enthusiasm waned as the trading day wore on amid pressure from sinking tech and energy stocks. While massive post-earnings drops for Intel (INTC) and Exxon Mobil (XOM) sent the Dow swinging lower, the chipmaker's whiff had the Nasdaq slumping to a triple-digit loss. Plus, Twitter's brow-raising sell-off weighed on the S&P 500 -- and offset a positive earnings reaction for Amazon (AMZN), which pushed the FAANG name's market cap north of $900 billion.

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

• Caterpillar options traders bet on another earnings upside move.
• The sinking cloud stock at risk for more downgrades.
• Plus, a "big short" on Tesla; Chipotle's new high; and commodities fall with stocks.

The Dow Jones Industrial Average (DJI - 25,451.06) explored a 210-point range on both sides of breakeven, eventually closing down 76 points, or 0.3%. Seventeen Dow components settled in negative territory, led by INTC's 8.6% plunge. Chevron (CVX), Walgreens Boots Alliance (WBA), and Verizon (VZ) paced the 13 advancers, each rising 1.6%. For the week, the Dow added 1.6%.

The S&P 500 Index (SPX - 2,818.82) erased an early lead to give back 18.6 points, or 0.7%, while the Nasdaq Composite (IXIC - 7,737.42) shed 114.8 points, or 1.5%. On a weekly basis, the SPX gained 0.6%, while the IXIC slumped 1.1%.

The Cboe Volatility Index (VIX - 13.03) rose 0.9 point, or 7.3%. Week-over-week, the market's "fear gauge" edged up 1.3%.

5 Items on Our Radar Today

1. Fears of a potential trade war weighed on consumer sentiment in July, per the University of Michigan. The consumer sentiment index fell to 97.9 this month from June's reading of 98.2 -- still higher than analysts were expecting -- and remains well off its 14-year high of 101.4 from March. (CNBC)
2. Helios and Matheson Analytics (HMNY) said Thursday's MoviePass service outage was due to a lack of cash to pay for movie tickets, while a Securities and Exchange Commission (SEC) filing revealed the firm borrowed an emergency $5 million to pay vendors. Shares of HMNY plunged 70%, and hit a record low in intraday action. (CNN Money)
3. Steve Eisman said he's short Tesla stock ahead of the carmaker's earnings report.
4. Strong same-store sales sent Chipotle to a new high -- and left analysts scrambling to catch up.
5. A discounted share offering sent this drug stock to a record low.

Data courtesy of Trade-Alert

Oil, Gold End in the Red

Oil prices slumped after data showed the number of active domestic oil rigs edged higher last week. September-dated crude fell 92 cents, or 1.3%, to settle at $68.69 per barrel. Comparing most active contracts, crude oil surrendered 2.5% week over week, but September-dated futures edged up 0.6% from last Friday's settlement.

Gold prices edged lower following this morning's GDP data. Gold for August delivery closed down $2.70, or 0.2%, at $1,223 an ounce. For the week, gold gave back 0.7%, marking its third consecutive weekly loss.