The U.S. stock market is plummeting today, after Beijing retaliated against Washington's threats of new tariffs by unveiling a list of U.S. products that will face stiffer import taxes, though it's not been announced when these will go into effect. Included on the list are automakers, and in reaction, shares of Detroit darlings Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) are trading lower.

Ford Motor Tests Key Trendline

Ford Motor stock is down 1.6% at $10.98 to test potential support at its 50-day moving average. This trendline served as a stiff ceiling in mid-March, but the shares reclaimed a foothold north of here during last Thursday's rally. More broadly, the shares are down 11% year-to-date.

Options traders have been betting on more upside, buying to open calls over puts at a quicker-than-usual clip in recent months. F stock's 50-day call/put volume ratio of 2.79 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks in the 97th annual percentile.

GM Stock at Risk of Continued Short Selling

General Motors stock fell 2.7% at the open, but has since pared these losses to 0.6% to trade at $36.71, after the automaker issued a statement saying it "support[s] a positive trade relationship between the U.S. and China." Longer term, the shares gapped below their 320-day moving average in early March after a roughly 18-month run above it, with the trendline now serving as resistance.

Increased selling pressure from shorts has likely exacerbated GM's technical woes. Short interest shot up 13.2% in the two most recent reporting periods to 36.55 million shares. However, this accounts for a slim 3% of the stock's available float, meaning there's plenty of room on GM's bearish bandwagon.

Stocks have erased sharp early morning losses to trade in positive territory. Amid specific stocks seeing volatile trading are pharmaceutical firm Tenax Therapeutics Inc (NASDAQ:TENX), software name Cloudera Inc (NYSE:CLDR), and beer maker Boston Beer Company Inc (NYSE:SAM). Here's a quick roundup of what's moving shares of TENX, CLDR, and SAM.

Tenax Therapeutics Rally Halted at a Familiar Ceiling

Tenax Therapeutics stock shot to an intraday high of $11.92 earlier, but ran out of steam near the $12 mark -- a region that's contained several rally attempts since a late July bear gap. While the shares have since pared these gains, they're still up 62.8% to trade at $8.66. TENX stock is reacting to news the Food and Drug Administration (FDA) said the company could submit its pulmonary hypertension treatment, levosimendan, for an existing investigational new drug application.

The shares gained almost 18% last month, yet just one analyst currently covers Tenax Therapeutics. While this brokerage firm maintains a "strong buy" rating, there's room for more analysts to weigh in amid the stock's continued breakout.

Cloudera Stock Hits Record Low After Earnings

Cloudera stock hit a record low of $13.20 earlier, and was last seen trading down 40% at $13.37, after the software firm issued a weak full-year forecast -- though it reported better-than-expected fourth-quarter results on higher subscription revenue. A round of bearish brokerage notes is pouring salt on the proverbial wound, including a downgrade to "hold" from "buy" at Deutsche Bank. The brokerage firm joined no fewer than four others in cutting its CLDR price target.

Amid this volatile session, CLDR options volume has exploded. More than 18,600 contracts have traded so far -- 15 times what's typically seen at this point in the day, and volume at a new all-time peak. Most active is the April 12.50 put, where it looks like traders could be selling to open the positions to set a short-term floor for the tech stock.

Cowen Isn't Worried About Legal Weed Impact on SAM Stock

Boston Beer stock is up 6.5% to trade at $207.00 -- and earlier tagged a new two-year high of 208.75 -- after Cowen and Company upgraded the name to "market perform" from "underperform," and boosted its price target to $195 from $150. While the brokerage firm noted the legalization of marijuana could negatively impact alcohol sales, namely for lower-end beer brands, it said Boston Beer's non-beer trends look surprisingly robust.

The security has now rallied almost 29% since taking a sharp bounce off its 200-day moving average in early March, and short sellers start could start covering their losing bets at a faster clip. Though short interest edged down in the most recent reporting period, 2.12 million SAM shares are still sold short -- more than 25% of the stock's available float, and 15.3 times the average daily pace of trading.

Shares of Spotify Technology (NYSE:SPOT) are trading higher this morning, after the streaming music service received a pair of bullish brokerage notes. Canaccord Genuity initiated coverage on the Wall Street newcomer with a "buy" rating. What's more, the brokerage firm said SPOT stock deserves "premium valuation" and set a $200 price target -- a nearly 39% premium to last night's close -- while signaling expectations for global subscribers to grow to around 55% by 2025 versus the current 40%-45%.

Stifel also started SPOT stock with a "buy" rating, and set its price target at $180. The brokerage said it thinks the company can reach profitability, and that, "Similar to Netflix when the company was early on in its transition from DVDs to streaming video, Spotify's margin structure appears far from optimized today."

The shares first began trading on the New York Stock Exchange (NYSE) on Tuesday, though the company chose to go with a rare direct listing, versus pricing an initial public offering (IPO). While the NYSE set a reference price of $132 per share on Monday, Spotify opened Tuesday's trading at $166.47 -- rising as high as $169 on its first day, before closing at $149.94.

Yesterday, the shares fell as low as $135.51, before closing the session down 2.7% at $145.87. Out of the gate this morning, SPOT stock is up 3.3% to trade at $150.63.

Analysts have long been a fan of biotech stock Biogen Inc (NASDAQ:BIIB). Of the 23 brokerage firms that have coverage on BIIB, 16 say to buy it, and there are zero "sell" ratings. The equity also boasts a 12-month price target of $375.10, which represents a 37% premium to the Wednesday close of $272.40. But with the shares coming off an abysmal first quarter in which they shed almost 45% of their value, some may have guessed downgrades could be on the horizon, and sure enough Barclays this morning lowered its opinion on the neurological disease specialist.

Specifically, analyst Geoff Meacham downgraded the security to "equal weight" from "overweight" and slashed his price target to $295 from $395, citing a lack of near-term catalysts. Making this bear note even more troubling is the fact that Meacham actually waxed optimist on the broader biopharma sector, saying it won't be affected by trade war fears or the privacy issues that have hurt major tech stocks. He also noted strong first-quarter earnings out of biopharma stocks and the potential for M&A activity going forward.

Recent options traders will be hoping Biogen stock can shrug off this negative analyst attention. Call buying has more than doubled put buying during the past 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), and the front-month April 300 call saw the largest increase in open interest during this time. With data confirming buy-to-open activity here, many traders have been betting on BIIB shares rallying back above $300 in the coming weeks.

But so far today the equity is down 0.5% at $270.67. Technical traders may want to watch the $260 area closely, as this is roughly equal to a 23.6% Fibonacci retracement of the shares 2015 record high and their 2016 lows. This region has acted as a floor during the recent slide.

Shares of homebuilding retailer Lowe's Companies, Inc. (NYSE:LOW) are on the rise, after UBS put the stock on its "most preferred" list. An extensive amount of catalysts have been cited as the reason behind the firm's bullish outlook, including Lowe's impending change in CEO, and a good consumer spending environment, which is being supported by strengthening labor market and recent tax cuts. An analyst from the brokerage firm also noted that China tariffs are not likely to impact LOW, and that the sector is somewhat shielded from online competition.

On the charts, LOW pulled back sharply after touching a record high of $108.75 on Jan. 25 amid the stock market correction, but found a firm foothold atop its 200-day moving average -- a trendline that served as a magnet in the second half of last year. The shares are still up 15.4% in the past nine months, and at last check, Lowe's stock was trading 0.3% higher at $88.35.

In the options pits, data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows LOW with a 10-day call/put volume ratio of 13.79, ranking in the 97th percentile of its annual range. This indicates that calls have been bought over puts at a much faster-than-usual clip during the past two weeks -- though it looks like most of this activity centered at LEAPS strikes, namely the January 2019 92.50- and 100-strike calls, and may be tied to stock.

However, Lowe's stock's Schaeffer's put/call open interest ratio (SOIR) of 1.09 ranks in the 100th percentile of its annual range, showing short-term traders are more put-heavy than usual. Peak open interest among near-term strikes is located at the April 72.50 put, and it looks like most of the positions were initiated last November when LOW was trading near $80.

Chip stocks Micron Technology, Inc. (NASDAQ:MU) and Texas Instruments Incorporated (NASDAQ:TXN) are both sitting out the broad-market rally after receiving bearish brokerage notes to start the day. Specifically, UBS initiated coverage on the two semiconductor stocks with "sell" ratings, as well as price targets of $35 and $85, respectively.

Majority of Analysts Still in MU's Corner

At last check, MU was down 3.9% to trade at $51.30, with UBS expecting an increase in DRAM supplies to hurt the company later in the year. Nevertheless, Micron stock has added an impressive 25% in 2018. After touching a 17-year high of $63.42 on March 13, MU shares pulled back, although the drop has been contained by the shares' 50-day moving average.

Despite the bearish analyst attention today, most brokerage firms remain optimistic. Of the 23 brokerages covering the equity, 20 rate it a "buy" or "strong buy." Furthermore, Micron's average 12-month price target stands up at $72.72

TXN Stock Tests Key Moving Average

Texas Instruments stock is down 1.4% to trade at $102.70 so far today. TXN shares scored a record high of $120.75 in late January, but have since then pulled back to their 160-day moving average, which provided support during the summer months of 2017.

Despite the stock's recent struggles, options traders have preferred calls over the past 10 weeks. Currently, data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows TXN with a 50-day call/put volume ratio of 1.11, ranking in the elevated 80th percentile of its annual range. Those looking to bet on Texas Instruments using options must pay up, however, according to its 30-day at-the-money implied volatility of 32.1%, which ranks in the 97th annual percentile. 

Next week will have a little bit of everything for investors. On the economic front, a pair of inflation updates and the release of the minutes from the Federal Open Market Committee's (FOMC) March meeting will be the most anticipated. Additionally, first-quarter earnings season is getting ready to rev up, with big banks JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc (NYSE:C), and Wells Fargo & Co (NYSE:WFC) kicking things off on Friday.

Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.

Monday, April 9, will be devoid of any economic data. Argan (AGX)
 and Sigma Designs (SIGM) will report earnings.

Wholesale trade data and the producer price index (PPI) will be released on Tuesday, April 10. Delta Air Lines (DAL), MSC Industrial (MSM), and Pier 1 Imports (PIR) will step into the earnings confessional.

Wednesday, April 11, brings the minutes from the March Fed meeting. The consumer price index (CPI), weekly crude inventories update, and the Treasury budget will also be released. Bed Bath & Beyond (BBBY) and Fastenal (FAST) will unveil earnings.

Weekly jobless claims, import and export prices, and the Fed's balance sheet are all due out on Thursday, April 12. BlackRock (BLK) and Rite Aid Corporation (RAD) will report earnings.

On Friday, April 13, the University of Michigan consumer sentiment index and the Job Openings and Labor Turnover Survey (JOLTS) will hit the Street. St. Louis Fed President James Bullard will speak in the morning. Earnings from big banks JPMorgan Chase (JPM), Citigroup (C), First Horizon (FHN), PNC Financial Services Group (PNC), and Wells Fargo (WFC) are all due.

The U.S. stock market is in rally mode today, with Boeing (BA) leading the Dow higher on easing trade tensions. Stocks in the pharmaceutical sector are making big moves, too, with Sonoma Pharmaceuticals Inc (NASDAQ:SNOA) and Tenax Therapeutics Inc (NASDAQ:TENX) trading higher with the broader market, though Conatus Pharmaceuticals Inc (NASDAQ:CNAT) is sinking.

FDA Skin Gel Approval Boosts Sonoma Pharmaceuticals Stock

Sonoma Pharmaceuticals stock was up 32.3% earlier, but has since pared this lead to 13.8% to trade at $4.13. Boosting the drug stock is news the Food and Drug Administration (FDA) approved the biotech's antimicrobial post-therapy skin gel, which treats pain and irritation caused by laser therapy procedures.

Longer term, SNOA has been sliding since its early January rally attempt was halted near its 200-day moving average, with the shares shedding nearly 39% from their Jan. 2 intraday high at $5.92 to last night's close at $3.63. Against this backdrop, a number of shorts jumped ship at an opportune time. Short interest on SNOA stock plunged 63.85% in the most recent reporting period.

Tenax Therapeutics Stock Gaps Higher for a Second Straight Day

Tenax Therapeutics shares are on track for another day of big gains, up 5.6% to trade at $8.29. Yesterday, the stock surged 46.4%, after the FDA put the company's blood pressure drug on a potential path toward approval. But while the equity is pacing toward a more than 50% weekly gain, it's run into resistance in the $10-$12 region, which coincides with its year-over-year breakeven mark and an early August bear gap.

Conatus Pharmaceuticals Stock Heads Toward Worst Day in Three Years

Conatus Pharmaceuticals stock fell as much as 32.8% earlier, but found a familiar foothold near $4 -- which cushioned the shares late last year. More recently, CNAT was off 30.9% to trade at $4.15, though still the worst Nasdaq stock so far today and on track for its biggest one-day percentage loss since Jan. 9, 2015. Weighing on the shares is disappointing mid-stage trial data for the company's fatty liver disease treatment, emricasan.

Analysts were quick to weigh in, too, with CNAT stock seeing its price target cut at Oppenheimer (to $14), H.C. Wainwright (to $15), and SunTrust Robinson (to $20) -- though all of these still sit well above current trading levels. In fact, analysts appear to be all in on the security, even though it's been almost cut in half from its mid-March highs. All six covering analysts maintain a "strong buy" rating, while the average 12-month price target sits at a lofty $15.83.

The tech sector is helping to power the U.S. equities market to another day of big gains, and FAANG stocks -- Alphabet (GOOGL) notwithstanding -- are trading notably higher. Facebook, Inc. (NASDAQ:FB) and Amazon.com, Inc. (NASDAQ:AMZN) have been two of the higher-profile names in this group in recent weeks, and the shares are swinging higher today, even as a fresh batch of headlines hits.

Facebook CEO Says Ad Sales Not Impacted by Data Breach

Facebook stock surged almost 4.2% out of the gate, and was last seen trading up 2.5% at $158.99, after CEO Mark Zuckerberg said during a conference call yesterday that it doesn't seem ad sales have been negatively impacted by the recent data-harvesting scandal. He also noted data from up to 87 million users may have been shared with Cambridge Analytica without permission, and that the company is "probably a year into a massive three-year push" to fix the social media site.

More information will likely come to light when Zuckerberg heads to Capitol Hill next Tuesday for two days of congressional testimony, while the company is also expected to meet with U.K. Digital Minister Matt Hancock over privacy concerns. Separately, Australia said it is investigating Facebook for possible breaches of privacy laws, while the Kremlin accused the company of censorship, after it removed hundreds of accounts linked to a Russian "troll factory" that was indicted by U.S. prosecutors over its role in the 2016 U.S. presidential election.

After news of the data leak first hit in mid-March, shares of FB gave back nearly 16% in the second half of the month. However, the stock stabilized in the $152-$154 region, which coincides with four times its initial public offering (IPO), as well as a $450 billion market cap. Those looking to bet on a bigger bounce may be in luck, too. Facebook's 30-day at-the-money implied volatility of 14.3% ranks in the 94th annual percentile, meaning call options are pricing in lower volatility expectations than their put counterparts.

Amazon Stock Brushes Off Latest Trump Attack

President Donald Trump continued his tirade against Amazon today, tweeting earlier that the Washington Post -- which is privately owned by the e-tailer's CEO Jeff Bezos -- is its "chief lobbyist." This was just the latest in a string of Trump tweets directed at AMZN, but while the stock has previously reacted negatively, today, it's trading up 2.6% at $1,447.62.

After hitting an all-time peak of $1,617.54 on March 13, AMZN stock pulled back to its 80-day moving average. This rising trendline is currently docked near a 23.6% Fibonacci retracement of Amazon's post-election rally to record highs -- specifically, its surge from November 2016 to mid-March, when the shares more than tripled in value.

Analysts, meanwhile, have remained upbeat toward Amazon. Of the 38 brokerages covering the shares, 34 maintain a "buy" or better rating. Plus the average 12-month price target of $1,670.66 stands at a 15.3% premium to AMZN stock's current price.

Mizuho upgraded Valeant Pharmaceuticals Intl Inc (NYSE:VRX) to "neutral" from "underperform," and boosted its price target by $5 to $15. The brokerage firm said it doesn't see any "near term sell catalysts," and that it believes the Bausch + Lomb parent will reach its 2018 guidance. The analyst in coverage did caution, however, that it expects the drugmaker's turnaround efforts to take longer than forecast, and that growth will likely not be achieved until at least 2020.

Looking at the charts, it's been a rough year for VRX stock, which is down more than 35% from its early January annual high of $24.43. More recently, a handful of bear gaps in late February and early March sent the shares gapping below the key $18 level, which has served as support and resistance going back to 2016. At last check, VRX stock was up 0.3% at $15.81, but a number of options traders are betting on the equity to resume its longer-term slide.

At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day put/call volume ratio of 1.36 ranks in the 100th annual percentile. In other words, puts have been bought to open over calls at a faster-than-usual clip.

The bulk of this action has centered at the April 14 put, where more than 6,900 positions were added in the past two weeks. Data from the major options exchanges confirms significant buy-to-open activity here, meaning traders expect VRX stock to breach $14 for the first time since an early November bear gap by the close on Friday, April 20 -- when the front-month options expire.

PayPal Holdings Inc (NASDAQ:PYPL) is down 1.1% to trade at $76.12 this morning, after the Wall Street Journal reported that Amazon (AMZN) was considering adding a person-to-person payment option to its Alexa technology. Such a feature would put Amazon in direct competition with Paypal. 

PayPal stock has added an impressive 77% year-over-year, and topped out at a record high of $86.32 on Jan. 31. Since then, however, the equity has pulled back, consolidating around the $73-$74 region, which coincides with the stock's 160-day moving average. This trendline served as support for PYPL in late 2016 and early 2017, and cushioned a retreat earlier this week.

Analysts have not yet reacted to the Amazon rumors, though most remain optimistic. Of the 33 brokerages covering the equity, 27 rate it a "buy" or "strong buy," with not a single "sell" on the books. Furthermore, PayPal's average 12-month price target stands up at $85.23.

In the options pits, traders have preferred calls. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) confirms a substantial call bias, with long calls handily doubling puts in the past 10 days.

Finally, it's worth noting the security has been good to premium buyers in the past year. The stock's Schaeffer's Volatility Scorecard (SVS) comes in at a lofty 91 out of 100. That means PYPL stock has exceeded options traders' volatility expectations during the past 12 months.

Despite the recent market turbulence, including this morning's tariff-induced drop, defense stocks Northrop Grumman Corporation (NYSE:NOC) and Raytheon Company (NYSE:RTN) have held up well -- especially compared to sector peer Boeing Co (NYSE:BA). Brokerage firm RBC is betting on even more upside for NOC and RTN stocks, too, raising its price targets this morning on both names.

RBC Eyes a 17% Surge From NOC Shares

Starting with Northrop Grumman, RBC hiked its price target to $419 from $400, which represents a 17.3% premium to the shares' current perch near $357.10. While the security is trading down 0.8% today amid the broad-market headwinds, it just yesterday reached a record high of $360.88, and is up more than 50% in the past year.

Most analysts share RBC's bullish outlook, as 10 of the 14 in coverage have "strong buy" ratings in place. Options traders are also optimistic, judging by the 10-day call/put volume ratio of 1.75 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This reading ranks in the high 94th annual percentile, meaning call buying has been unusually popular in recent weeks, relative to put buying.

Wall Street Bullish On RTN Stock

Turning to Raytheon, RBC set a $262 price target, up from its previous mark of $244. The equity was last seen trading down 0.6% at $218, so it would need to rally more than 20% to reach RBC's target. Of course, RTN's long-term trend suggests such a move is possible, as it's gained over 45% in the previous 12 months, and has experienced just three negative quarters in the past five years. Back on Feb. 27, the stock hit an all-time peak of $222.82.

Like it's sector peer NOC, Raytheon has enjoyed almost exclusive bullish attention from analysts. Specifically, 12 of the 14 tracking the security say to buy it. Another similarity to Northrop is the action seen from options traders, with call buying more than tripling put buying during the past two weeks at the ISE, CBOE, and PHLX.

Boeing Price Target Trimmed

While we're here, it's worth noting that RBC weighed in on Boeing, too. The firm cut its price target on the Dow component to $358 from $378, though that's still above BA's price today of $331.05. Eleven of 17 covering analysts still have "strong buy" ratings on Boeing.