Stocks are getting gashed today, with the Dow Jones Industrial Average (DJI) down more than 375 points and on track for its worst day since May 29. Tech giants such as Intel (INTC) and Microsoft (MSFT), as well as FAANG stocks like Alphabet (GOOGL) are selling off at a dramatic rate, putting the Nasdaq Composite (IXIC) on pace for its lowest close since early July, and the S&P 500 Index (SPX) on track for its worst losing streak since November 2016.

Traders are also keeping a close eye on the 10-year Treasury yield, which once again has climbed to a seven-year high. Elsewhere, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), has spiked to its highest level since late June.

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

• This VIX signal has been hot in 2018.
• The Dow stock failing to capitalize on a new Amazon partnership.
• Plus, options traders target Altria; Kohl's stock bounces off support; and Twitter sells off again.

 

Twitter Inc (NYSE:TWTR) is struggling today, down 7.7% to trade at $27.00. Last week, a hedge fund closed out its stake in the social media stock, which had been consolidating near the $28 level in recent weeks. But while TWTR is heading toward its sixth straight weekly loss, it still boasts a 12.7% lead in 2018. 

It was a dramatic sell-off for U.S. markets today, with big-cap growth names taking a hit as the two-year Treasury yield tagged an early decade-plus high. The Dow was down over 836 points at its session low, and the Nasdaq also fell triple digits as FAANG stocks tanked. The S&P, meanwhile, closed below its 50-day moving average for the first time since July 3, and ended lower for the fifth session in a row -- its longest daily losing streak since November 2016.

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

• This stock market signal says to buy the dip. 
• Analyst eyes 50% upside for Dropbox stock.
• The penny stock that scored a big FDA boost.
• Plus, the gene therapy stock that could surge; 2 must-buy healthcare stocks; and Amazon's latest partnership.

The Dow Jones Industrial Average (DJI - 25,598.74) tanked 831.8 points, or 3.2%, to mark its worst daily performance since early February. All 30 blue chips ended today in the red, though McDonald's (MCD) fared the best with its 0.9% decline. Meanwhile, Nike (NKE) paced the fleet of underperformers with a 6.8% plunge.

The S&P 500 Index (SPX - 2,785.68) shed 94.7 points, or 3.3%, while the Nasdaq Composite (IXIC - 7,422.05) let go of 316 points, or 4.1%. It was the Nasdaq's biggest daily percentage loss since the Brexit shocker of June 24, 2016, and the SPX's worst showing since February.

As stocks sold off, the Cboe Volatility Index (VIX - 22.96) added 7 points, or 44%. It was the VIX's biggest single-day jump since its 115% pop back on Feb. 5 -- and in the process, the fear gauge set new six-month intraday and closing highs at 22.96, which is well above its year-to-date half-high of 18.66.

5 Items on our Radar Today

1. Just months after its mid-year takeover of Time Warner, AT&T (T) today announced its plans to launch a Netflix (NFLX) streaming rival sometime next year. The platform will be anchored around HBO branding and include content from WarnerMedia. (CNBC)
2. DSW (DSW) and Authentic Brands announced their plans to purchase Camuto Group for roughly $375 million today. The company -- which manage the licenses of Lucky Brand and Jessica Simpson -- will maintain its third-party product relationships and Connecticut headquarters. (MarketWatch)
3. The gene-editing stock that could surge 75%. 
4. Analysts call out 2 must-buy healthcare stocks.  
5. Dow stock Travelers (TRV) was in focus after landing an Amazon partnership.

Data courtesy of Trade-Alert

Oil Tanks With Wall Street

Crude futures fell alongside equities in today's trading, as investors fled riskier assets and analysts downplayed Hurricane Michael's potential impact on production. November-dated oil futures shed $1.79, or 2.4%, to close at $73.17 per barrel.

Meanwhile, gold futures found support from the risk-off attitude on Wall Street. December-dated gold added $1.90, or 0.2%, to settle at $1,193.40 an ounce. 

There's been notable movement in U.S. stock futures this morning, with a surprising consumer price index (CPI) pulling futures off their lows. The closely watched inflation gauge came in weaker than expected for September, momentarily calming investor nerves about rising interest rates. While the Dow Jones Industrial Average (DJIA) is still set to open lower -- and add to yesterday's dramatic sell-off -- this morning's inflation data significantly cut into the index's pre-market losses. In other economic news, weekly jobless claims came in slightly higher than expected, with 214,000 Americans filing for unemployment benefits, compared to forecasts of 206,000.

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

• Analysts: 2 healthcare stocks to snag now.
• 2 big put trades on Freeport-McMoRan and Intel.
• Short sellers could act as an upside catalyst for Discovery shares.
• Plus, Delta earnings impress; Walgreens dips after results; and FDA update gives Crispr a boost.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.13 million call contracts traded on Wednesday, compared to 838,732 put contracts. The single-session equity put/call ratio jumped to 0.74, and the 21-day moving average edged up to 0.61.  
2. Delta Air Lines, Inc. (NYSE:DAL) is set for a positive post-earnings reaction, gaining 3.3% in pre-market trading. The third-quarter report showed a top- and bottom-line beat, and the company gave a strong outlook for the current quarter, with CEO Ed Bastian noting expectations for expanded margins moving into the next year. DAL shares certainly need the boost, as they're on pace for a third straight weekly loss, yesterday notching their lowest close since early July -- going against historical seasonal trends.
3. Walgreens Boots Alliance Inc (NASDAQ:WBA) is trading lower after earnings, set for a 4.9% decline at the open. Earnings-per-share were better than expected for the fiscal fourth quarter, but sales for the period were lower than anticipated. The losses would have WBA stock testing its 320-day moving average
4. Gene editing name Crispr Therapeutics AG (NASDAQ:CRSP) is set to jump 14% at the open, thanks to news the Food and Drug Administration (FDA) lifted its hold on the company's clinical trial for its sickle cell disease drug. CRSP shares have lost 64% since their May highs above $70, but some analysts remain bullish.
5. Today features weekly jobless claims and the weekly crude inventories report. The Treasury budget and Fed balance sheet will also be released. WBA is the only name on the earnings schedule.

Global Markets Join U.S. In Sell-Off

Asian stocks followed Wall Street's lead, drastically selling off. Losses across all sectors weighed heavy, though tech got hit particularly hard. In Japan, the Nikkei fell 3.9% as the yen strengthened, while South Korea's Kospi tanked 4.4%. Hong Kong's Hang Seng ended 3.5% lower, while China's Shanghai Composite fared the worst with its 5.2% drop -- marking its biggest one-day decline since February 2016.

European markets are not ducking the global sell-off, with all major indexes significantly lower at midday. The increasing concern over global economic growth and interest rates has Germany's DAX down 0.9%, France's CAC 40 off 1.4%, and London's FTSE 100 1.5% lower, at last check.

Stocks are getting pummeled once more today, despite a pullback in the 10-year Treasury yield and some tame inflation data. The Dow Jones Industrial Average (DJI) is down triple digits, the S&P 500 Index (SPX) is heading toward its sixth straight loss -- extending its lengthiest losing streak since before the 2016 U.S. presidential election -- and the tech sell-off has the Nasdaq Composite (IXIC) on track for back-to-back closes below its 200-day moving average. Elsewhere, the Cboe Volatility Index (VIX) is trading at levels not seen since early April. 

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

• This FAANG stock was flooded with bull notes. 
• Weed stock takes a hit after analyst downgrade.
• Plus, options traders target General Motors; Macy's stock rises with retail; and Celgene stock dips.

 

Celgene Corporation (NASDAQ:CELG) is down 3.3% to trade at $81.49. Morgan Stanley chimed in on the biotech sector, saying it does not expect much in terms of third-quarter earnings -- and forecasts little reaction for Celgene stock after the company's results, due before the open on Thursday, Oct. 25.

Dow Jones Industrial Average (DJIA) futures are signaling a huge comeback for U.S. stocks. The S&P 500 Index (SPX) and Nasdaq-100 (NDX) are both set for substantial jumps at the open, too, taking their cue from a broader recovery in global stock markets. Traders are digesting earnings releases from a number of big banks, including Dow component JPMorgan Chase (JPM), which is on pace to open higher thanks to a top- and bottom-line beat. Even with the Dow set to rally, however, it's well on pace for a weekly loss following the massive stock sell-off that trimmed 1,377 points off its value over the past two days.

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

• Why option bulls should watch for an ATVI stock bounce.
• Analysts calls out a "game changer" for Boot Barn.
• 2 mining stocks flashing buy signals.
• Plus, 2 other bank stocks to watch; analyst jumps on Square pullback; and Snap in focus again.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.15 million call contracts traded on Thursday, compared to 788,231 put contracts. The single-session equity put/call ratio fell to 0.68, and the 21-day moving average stayed at 0.61.  
2. Square Inc (NYSE:SQ) is getting more bullish analyst attention following a massive two-day pullback, with Canaccord Genuity today upgrading the stock to "buy" following the high-profile departure of Chief Financial Officer Sarah Friar. After trading as high as $101.15 on Oct. 1, the shares closed yesterday at $69.03 -- marking the first close below their 80-day moving average since April. The equity is now set to open up 8.2%, however, bouncing from support at its 160-day trendline.
3. It seems as though we've covered Snap Inc (NYSE:SNAP) every day this week, and the social media stock is again in focus today. Despite the fact that the shares hit an all-time low yesterday, Pivotal Research just upgraded the shares to "buy" from "hold," though the firm trimmed its price target to $8 from $9. SNAP is set to open up 5% after settling Thursday at $6.81.
4. Elsewhere on the earnings front, Citigroup Inc (NYSE:C) and Wells Fargo & Co (NYSE:WFC) are both set for positive opens after the companies' quarterly reports. C shares are up 2.7% in pre-market trading and WFC is poised to pop 1.5%. Both bank stocks suffered their lowest closes in weeks yesterday.
5. Today will bring us the latest import and export prices, as well as data on consumer sentiment. Next week the stock market schedule picks up, with third-quarter earnings set to continue.

Global Markets Move Higher

Asian stocks were in recovery mode today, with all major indexes closing in positive territory. Specifically, China's Shanghai Composite saw notable gains after logging its worst day in more than two years on Thursday, rising 0.9% following data that showed exports to the U.S. surged 16.6% last month. Meanwhile, a rebound from Tencent helped push Hong Kong's Hang Seng 2.1% higher, while South Korea's Kospi settled with a 1.5% advance. In Japan, the Nikkei closed up 0.5%.

European markets are also bouncing back to trade higher this afternoon, with tech stocks in particular seeing notable gains. At last check, London's FTSE 100, Germany's DAX, and France's CAC 40 are all sporting 0.8% leads.

The U.S. stock market is stabilizing, with the Dow Jones Industrial Average (DJI) up triple digits and the S&P 500 Index (SPX) set to snap its six-day skid. The Nasdaq Composite (IXIC) is higher, too, as FAANG stocks rally. Today's upside comes after two days of sharp selling, with traders also watching the start of earnings season -- with big banks JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC) all reporting this morning. However, even with today's impressive gains, all three benchmarks are still staring at their worst weekly losses since late March.

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

• 2 drug stocks boosted by bull notes.
• Analyst: This tech stock could pop on a FAANG partnership.
• Plus, options traders target more gains for Turtle Beach stock; Nvidia stock rallies with tech; and Abiomed stock scales the S&P 500.

Turtle Beach Corp (NASDAQ:HEAR) is seeing unusual options volume today, with nearly 7,300 calls on the tape, five times the average intraday pace. Most active is the October 20 call, where it looks like new positions are being purchased. The headset maker made popular by Fortnite is up 15.6% to trade at $20.82 today, bringing its 2018 gain to 1,009%.

Nvidia Corporation (NASDAQ:NVDA) is up 4.6% to trade at $245.87, one of the top stocks on the S&P 500 today. The broader tech and semiconductor sectors are powering the rally today after the extensive sell-off earlier this week. For NVDA, its pullback found support at its 200-day moving average. The chip stock has added 27.6% in 2018, and is a favorite in the analyst community.

Also outperforming on the SPX today is ABIOMED, Inc. (NASDAQ:ABMD), up 5.9% to trade at $388.63, after Morgan Stanley issued a price-target hike to $396 from $370. The medical device maker pulled back this week amid the broad-market sell-off, but found support at its 160-day moving average. Longer term, ABMD has more than doubled in 2018.

U.S. stocks swung between minor gains and massive losses in today's wildly volatile session. Traders were temporarily relieved by this morning's tame reading on consumer inflation -- but sentiment remained skittish after Wednesday's steep sell-off, particularly as President Donald Trump continued to criticize the Fed's policy-tightening path as "ridiculous" and "a little too cute." As a result, it was a back-and-forth shoving match between the bulls and bears today. Stocks got a late-session push off their afternoon lows on reports that Trump and China's President Xi Jinping agreed to meet at next month's G-20 summit, but the S&P nevertheless ended the session well below a critical moving average.

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

• The best and worst stocks after a sell-off.
• Analysts see opportunity for a Snap stock turnaround.
• How Alibaba put traders tripled their investment in 4 days. 
• Plus, 2 commodity stocks to buy; Netflix nabs bull notes; and crude futures spiral.

The Dow Jones Industrial Average (DJI - 25,052.83) tanked 545.9 points, or 2.1%. The Dow was off nearly 699 points at its intraday low, and settled below its 200-day moving average for the first time since July 3. Once again, all 30 blue chips ended in the red, with Microsoft (MSFT) suffering the least on a 0.2% drop. Pfizer (PFE), however, paced the remaining losers, and fell 3.8%. 

The S&P 500 Index (SPX - 2,728.37) shed 57.3 points, or 2.1%, while the Nasdaq Composite (IXIC - 7,329.06) dropped 92.9 points, or 1.3%. The SPX closed beneath its 200-day moving average for the first time since April 2. Meanwhile, the Nasdaq briefly traded below 7,298 on an intraday basis -- marking a 10% correction from its Aug. 29 record high close -- but managed to settle north of that level.

The Cboe Volatility Index (VIX - 24.98), meanwhile, added 2 points, or 8.8%, to hit an eight-month high. The VIX has now surged 106.1% for the month of October.

5 Items on our Radar Today

1. Billy McFarland, the 27-year-old New York man who led the 2017 Fyre Festival scam that cost investors $27.4 million, was sentenced to six years in prison earlier today. The sentence -- which was reduced from the originally suggested 15 to 20 years -- also follows McFarland's concert ticket scam, which he ran while out on bail. (Bloomberg)
2. Banking giant Wells Fargo (WFC) is making a jump back into mortgage bonds. After JPMorgan Chase, the West Coast-based firm is only the second corporate banking name to securitize mortgages since the 2008 financial crisis. (MarketWatch)
3. Why you should buy these 2 commodity stocks before earnings.
4. Weed stock Tilray took a hit after an analyst downgrade. 
5. Analysts are still bullish on Netflix after the sell-off.

Data courtesy of Trade-Alert

Gold Marks Multi-Month High as Market Dips

Oil fell to its lowest close in over two weeks, suffering a steep loss alongside the broader market. The bearish momentum was exacerbated by today's holiday-delayed release of inventory data, which showed bigger-than-forecast climbs in both crude and gasoline stockpiles. November-dated crude futures shed $2.20, or 3%, to close at $70.97 per barrel.

On the flip side, gold futures pushed higher as the market extended its sell-off, and the U.S. dollar softened. December-dated gold added $34.20, or 2.9%, to settle at $1,227.60 per ounce -- its highest close since early August.

Following this week's brutal two-day sell-off, U.S. stocks managed to finish today comfortably higher. The Dow got an early boost from well-received JPMorgan earnings -- though the blue-chip bank erased its gains by the close -- and FAANG stocks also snapped back from their recent losses. However, sentiment remained skittish, with the major equity indexes taking a dive back toward breakeven around midday. In fact, despite a downturn in today's trading, the VIX posted its biggest weekly advance since March. 

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

• Sentiment signal flashes for the sixth time since 2009.
• Apple stock bounces from a key level after the sell-off.
• Plus, Bank of America draws bulls before earnings; analyst says to buy the Square stock dip; and 2 popping drug stocks.

The Dow Jones Industrial Average (DJI - 25,339.99) added 287.2 points, or 1.2%, for the day. For the week, the blue-chip index shed 4.2% -- its worst weekly performance since late March. Refreshingly, 26 Dow stocks closed higher, with Visa (V) taking the lead on a 4.7% gain. Pacing the four losers was JPM, which closed 1.1% lower.

The S&P 500 Index (SPX - 2,767.13) gained 38.8 points, or 1.4%, while the Nasdaq Composite (IXIC - 7,496.89) managed to add 167.8 points, or 2.3% on the day. For the week, however, the indexes shed 4.1%, and 3.7%, respectively -- both indexes also posting their worst weekly performances since March.

After a volatile week, the Cboe Volatility Index (VIX - 21.31) snapped its daily gaining streak, shedding 3.7 points, or 14.7%, on the day. However, the fear gauge did manage to post an impressive weekly gain of 44% -- its best since March 23.

5 Items on our Radar Today

1. The Food and Drug Administration (FDA) is once again cracking down on e-cigarette companies, this time having sent letters to roughly 21 manufacturers, demanding proof that the sales of any new products are legal. The regulators have already obtained information from Juul, the e-cig market leader. (CNBC)
2. Facebook (FB) announced in a letter today that 30 million users -- not the 50 million previously thought-- suffered from last month's data breach. However, about half of the 30 million were subject to the hackers' swipe of personal information, including phone numbers, search history, and the recent places users have checked in. (Bloomberg)
3. Call options are hot on Bank of America stock before earnings.
4. Analyst: Bet on Square bounce.  
5. Bull notes sent 2 drug stocks soaring.

Data courtesy of Trade-Alert

Gold Pulls Back as Stock Market Stabilizes

Crude futures finished today slightly higher, after a report out of the International Energy Agency (IEA) described the current supply as "adequate," and was accompanied by the firm lowering its forecast for demand. For today, November-dated oil added 37 cents, or 0.5%, to close at $71.34 per barrel. More broadly, oil fell 4% for the week.

Gold pulled back today as global markets settled, reducing the collective appetite for "safe haven" investments. December-dated gold shed $5.60, or 0.5%, to close at $1,222 per ounce for the day, but managed to add 1.4% for the week.

Last week's stock market volatility looks set to continue today. While Dow Jones Industrial Average (DJIA) futures are still signaling a lower open for stocks, they're far off their lows from earlier in the morning, and it's a similar setup for the S&P 500 Index (SPX) and Nasdaq-100 (NDX). Traders are preparing for a full week of data and earnings on Wall Street, starting today with retail sales for September -- which came up short of expectations -- and Bank of America's (BAC) third-quarter results. Elsewhere, rising interest rates and growing tensions with Saudi Arabia will remain in focus.

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

• This pot stock has tripled in a month.
• 2 healthcare stocks set to bounce.
• Plus, Bank of America beats; Activision Blizzard gets a bull note; and big M&A news.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.07 million call contracts traded on Friday, compared to 715,188 put contracts. The single-session equity put/call ratio fell to 0.67, and the 21-day moving average edged up to 0.62.  
2. Bank of America Corp (NYSE:BAC) stock is pacing for a positive post-earnings open, up 0.8% before the bell. The company beat estimates on the top and bottom line for the third quarter. Those who purchased call options last week will be hoping for an even bigger push higher from the shares, however.
3. Last week we highlighted Activision Blizzard, Inc. (NASDAQ:ATVI) as a potential target for bullish traders, and the video game stock is set to rise 1.1% at the open. Barclays upgraded the shares to "overweight" from "equal weight" and set an $86 price target, saying early engagement metrics for Activision's new "Call of Duty: Black Ops 4," released last week, look strong.
4. In M&A news, Harris Corporation (NYSE:HRS) is buying L3 Technologies Inc (NYSE:LLL) in all-stock deal valued at north of $15 billion. LLL shares are up more than 6% in pre-market trading on the news.
5. Today brings the New York manufacturing survey and business inventories data. Charles Schwab (SCHW) is also scheduled to report earnings.
   .

Asian Stock Markets Struggle

Stocks in Asia closed today lower, as investors remained cautious following last week's volatile trading. Japan's Nikkei fell 1.9%, as tumbling finance and defense stocks weighed heavy. In Hong Kong, suffering tech shares pushed the Hang Seng 1.4% lower, while in South Korea, the Kospi pulled back 0.8%. Meanwhile, China's Shanghai Composite took a loss of 1.5% -- and marked its lowest close since November 2014.

European markets are modestly higher in afternoon trading, with focus on this week's European summit, where Brexit will be discussed. London's FTSE 100 is up 0.1%, Germany's DAX is 0.5% higher, and France's CAC 40 is trading flat, at last check.

The Dow Jones Industrial Average (DJI) has explored a roughly 185-point trading range on both sides of breakeven, last seen higher on a boost from Walgreens Boots Alliance (WBA). On the other hand, the tech-rich Nasdaq Composite (IXIC) is firmly in the red, as a big drop in Apple (AAPL) weighs on technology stocks. Traders are also digesting this morning's quarterly earnings reports, as well as a weaker-than-expected reading on September retail sales.

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

• The FAANG stock dropping on new price targets.
• Why one analyst sees 25% downside for NutriSystem stock.
• Plus, pre-earnings options bulls blast Pfizer; Ralph Lauren rallies; and Adobe stock extends its pullback.

Pfizer Inc. (NYSE:PFE) is seeing unusual options volume today, with nearly 31,000 calls on the tape, three times the average intraday pace. Most active is the November 45 call, where Trade-Alert suggests new positions are being purchased. At last check, PFE was down 0.5% to trade at $43.56. The healthcare giant reports earnings before the market opens on Tuesday, Oct. 30, so it seems options traders are positioning for a post-earnings surge. 

Ralph Lauren Corp (NYSE:RL) is up 3.8% to trade at $126.04, one of the top stocks on the S&P 500 today. This morning, J. P. Morgan Securities upgraded the luxury retailer to "overweight" from "neutral," while boosting its price target to $150. RL boasts a 21.6% lead in 2018, but remains well off its July 31 three-year high of $147.79. 

On the other end of the spectrum is Adobe Inc (NASDAQ:ADBE), down 2.7% to trade at $242.18, one of the worst stocks on the SPX today. Adobe stock raced to a record high of $277.61 on Sept. 14 on a positive earnings reaction. While the shares have pulled back since then, they appear to have found support near their 200-day moving average.  

U.S. stocks struggled for direction today, before ultimately closing lower. Specifically, the Nasdaq ended lower as tech stocks weighed heavy, including FAANG member Apple (AAPL). Tech also succeeded in dragging the Dow and S&P into the red by the closing bell. As such, and in light of a weaker-than-expected report on September retail sales, many traders sought safety in gold. Looking ahead, several blue chips will step into the earnings spotlight tomorrow, including Goldman Sachs (GS) and IBM Corp (IBM).

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

• Analysts bet this penny stock will double.
• 2 pot stocks popping ahead of the Canada legalization.
• This Dow stock just landed a bull note before earnings.
• Plus, why Boeing stock's ready to rebound; the soaring fast food giant; and the FAANG stock slammed ahead of earnings.

The Dow Jones Industrial Average (DJI - 25,250.55) lost 89.4 points, or 0.4%, for the day. Ten Dow stocks closed higher, with Walgreens Boots Alliance (WBA) taking the lead on a 1.7% gain. Pacing the 20 losers was Cisco Systems (CSCO), which closed 2.3% lower.

The S&P 500 Index (SPX - 2,750.79) gave up 16.3 points, or 0.6%, while the Nasdaq Composite (IXIC - 7,430.74) shed 66.2 points, or 0.9%, on the day.

The Cboe Volatility Index (VIX - 21.30) lost just 0.01 point, or 0.05%, for the day.

5 Items on our Radar Today

1. Sears (SHLD) unsurprisingly filed for bankruptcy protection, and simultaneously announced the resignation of CEO Eddie Lampert. The troubled department store giant is planning to shutter 142 stores later this year. (CNBC)
2. Financial institution Fidelity Investments today launched a digital currency business. Chairman and CEO Abigail P. Johnson said the company's goal is to make assets such as bitcoin "more accessible to investors." (MarketWatch)
3. Boeing stock may be on sale at current levels.
4. This fast good giant just surged on an upgrade.
5. FAANG stock Netflix was slammed with price-target cuts ahead of earnings.

Data courtesy of Trade-Alert

Gold Soars to Multi-Month Highs

Crude futures finished higher amid U.S. tensions with Saudi Arabia. November-dated oil added 44 cents, or 0.6%, to close at $71.78 per barrel.

Gold closed higher in today's session, as investors sought safety in tangible assets. December-dated gold added $8.30, or 0.7%, to close at $1,230.30 per ounce -- its highest close since July.

Dow Jones Industrial Average (DJIA) futures are trading comfortably above fair value, as stocks eye a move higher out of the gate. A strong round of corporate earnings could help equities bounce back from yesterday's risk-off session, with Dow components Goldman Sachs (GS) and Johnson & Johnson (JNJ) both reporting earnings beats. Tech stocks will be in focus after the close, when IBM (IBM) and Netflix (NFLX) unveil quarterly results. Traders will also have economic data to digest after the open, including the Labor Department's Job Openings and Labor Turnover Survey (JOLTS).

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

• Schaeffer's Senior V.P. of Research Todd Salamone identified the VIX level that could signal a stock rebound.
• Why an analyst sees major upside for American Eagle stock.
• How options traders are playing rising gold prices.
• Plus, a closer look at blue-chip earnings; Walmart makes an announcement; and Twilio's big buy.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 821,270 call contracts traded on Monday, compared to 499,956 put contracts. The single-session equity put/call ratio dipped to 0.61 and the 21-day moving average stayed at 0.62.  
2. Digging deeper into this morning's earnings releases, JNJ is set for a slightly positive open after third-quarter earnings and revenue beat estimates -- good news for recent bulls. GS and Morgan Stanley (NYSE:MS) are both set for even more impressive jumps when the market opens, with the latter set to add 2.7% -- though this would still leave MS well below its 40-day moving average.
3. Walmart Inc (NYSE:WMT) utilized this busy news morning to lower its full-year profit outlook, citing its $16 billion purchase of Indian e-commerce giant Flipkart. WMT shares have been trending lower since a bull gap in mid-August, and they're now encountering resistance at their 30-day moving average.
4. Twilio Inc (NYSE:TWLO) announced Monday night that it's buying email technology specialist SendGrid for $2 billion in stock. TWLO stock has been outstanding over the past year, and even though the shares are set to dip on the M&A announcement, they could continue to find technical support near their 80-day moving average.
5. Today's economic calendar features industrial production numbers, the National Association of Home Builders (NAHB) housing market index, and Treasury International Capital (TIC) data. BlackRock (BLK), CSX (CSX), eBay (EBAY), Lam Research (LRCX), Progressive (PGR), and United Continental (UAL) will release earnings. 

Inflation Data, U.S.-Saudi Tensions Weigh on Chinese Stocks

Increased tensions between the U.S. and Saudi Arabia sent Asian markets to a mixed close. China's Shanghai Composite fell 0.9% amid the latest inflation data -- which showed a smaller-than-expected 2.5% lift in consumer prices for September, and a wider-than-forecast 3.6% pop in producer prices -- as well as lackluster Golden Week sales. Japan's Nikkei saw a noteworthy gain of 1.3%, while Hong Kong's Hang Seng edged 0.07% higher. Meanwhile, South Korea's Kospi closed flat.

Stocks in Europe are mixed in afternoon trading, with investors eyeing earnings, global trade tensions, and Brexit negotiations. As the pound pushes higher after data showed wage growth rising over the summer at its fastest pace since 2009, London's FTSE 100 is down 0.1%. On the flip side, Germany's DAX and France's CAC 40 are both up 0.6%, at last check.