The major indexes were mixed to start off the new week. The S&P 500 finished with a modest win, but fell short of an intraday record high yet again. Meanwhile, the Nasdaq Composite saw more robust gains, led higher by technology giant Amazon.com (AMZN) as it eyes cloud company Rackspace (RXT). The Dow, on the other hand, ended the day with a loss, as negotiations for a second round of coronavirus stimulus came to halt in Congress, with legislators now in recess. In addition, tensions between the U.S. and China continued to build, thanks to U.S. President Donald Trump's executive order forcing the sale of video-sharing app TikTok.

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

• Chinese-owned Alibaba brushed off news of a potential ban.
• There is more than one reason to like this technology stock.
• Plus, a semiconductor stock is flashing a bullish signal; Barrick Gold stock shines on Buffet stake; and Home Depot reached a new record high. 

The Dow Jones Industrial Average (DJI - 27,844.91) dropped 86.1 points, or 0.3% for the day. Home Depot (HD) finished with a 2,7% jump, pacing the 11 gainers. Apple (AAPL) paced the 19 laggards with a 0.3% fall.

Meanwhile, the S&P 500 Index (SPX - 3,381.99) added 9.1 points, or 0.3% for the day. The Nasdaq Composite (IXIC - 11,129.73) rose 110.4 points, or 1% for today's session.

Lastly, the Cboe Volatility Index (VIX - 21.35) lost 0.7 point, or 3.2%, for the day.

1. Democratic senators are calling to reverse U.S. Postal Services (USPS) changes implemented by the Postmaster General, or otherwise remove him. (CNBC)
2. Airlines are trying to convince travelers mandatory measures such as face masks and air filters make it safe to travel again, but most are still hesitant. (MarketWatch)
3. A bull signal is flashing for this semiconductor stock. 
4. Barrick Gold stock was shining brighter after Warren Buffett took a stake.
5. Home Depot stock reached a new record high due to increased foot traffic.

There are no notable earnings reports today.

Data courtesy of Trade-Alert

Gold Registers Best One-Day Gain in Several Months

Oil futures settled higher to kick off the new week. Black gold got a boost after reports Organization for Petroleum and Energy Countries and allies (OPEC+) was complying with production cuts. The rise was also attributed to China's plans to increase imports of U.S. crude in August and September, in an effort to ease trading tensions. As a result, September-dated crude was up 88 cents, or 2.1%, to end at $42.89 a barrel. 

Meanwhile, gold prices jumped on Monday to score their best one-day gain in four months, after both bond yields and the U.S. dollar pulled back, making the safe-haven commodity even more appealing. Gold for December, which is the most-active contract, rose $48.90, or 2.5%, to settle at $1.998.70 an ounce.

Earnings from two retail behemoths propped up stock futures this morning. Specifically, Walmart (WMT) and Home Depot (HD) are surging in pre-market trading, after each posed an earnings and revenue beat. The Dow Jones Industrial Average (DJI) is rising a modest 50 points at last check, while futures on the S&P 500 Index (SPX) are also marginally higher, finally on track to lock in fresh highs after the index yesterday once again fell short of a new intraday record. Additionally, Nasdaq-100 Index (NDX) futures are hovering just above fair value as well, after Senate Republicans announced a plan to introduce a new COVID-19 relief plan which includes $10 billion for the United States Postal Service (USPS) and housing starts showed a 22.6% increase for July. 

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

• Bull signal flashing for this semiconductor giant.
• Amazon stock is a big target for options bulls.

• Plus, Amazon is adding jobs in six major cities; Carnival is dealing with a ransomware attack; and more voluntary layoffs are in store for Boeing.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw over 1.5 million call contracts traded on Monday, and 743,585 put contracts. The single-session equity put/call ratio fell to 0.49, and the 21-day moving average stayed at 0.47.
2. Amazon.com, Inc. (NASDAQ:AMZN) announced it will add 3,500 jobs in six major cities, including 2,000 in New York. New employees in New York will work in the historic 5th Avenue building, which Amazon purchased from WeWork for a price tag reportedly to the tune of over $1 billion. As a result, AMZN is up 0.6% before the bell.
3. Cruise line giant Carnival Corp (NYSE:CCL) is off 0.2% in pre-market trading, after the company said it's investigating a ransomware attack against one of its cruise brands. The personal data of both guests and employees are involved, though Carnival did not disclose which brand.
4. More voluntary layoffs are on the table once again for employees of Boeing Co (NYSE:BA), according to a note from CEO Dave Calhoun. No specific reduction target was set, but the move comes as Boeing realigns its workforce to deal with the reduction in travel demand stemming from the coronavirus pandemic. Still, BA is up 0.2% ahead of the open.
5. Economic data featured today includes housing starts and building permits. On the earnings end, Advance Auto Parts (AAP), Cree (CREE), Kohl's, La-Z-Boy (LZB), and Nvidia (NVDA) are on tap.

Stocks in Asia were a mixed bag after today’s session, with South Korea’s Kospi coming back from holiday to lead the losses – dropping 2.5% amid an uptick in coronavirus cases. Among the winners, Hong Kong’s Hang Seng rose 0.08%, while China’s Shanghai Composite gained 0.4%. Continuing security measures against China, the U.S. Trump administration announced it will further tighten restrictions on China’s Huawei Technologies. Lastly, Japan’s Nikkei lost 0.2%.

In Europe, shares are modestly higher today, as travel stocks bounce back from the slide spurred by the U.K. adding France to its quarantine list. The French CAC 40 is up 0.3% while London’s FTSE 100 up 0.1%. Elsewhere, the German DAX has tacked on 0.8%.

The S&P 500 Index (SPX) earlier hit its long-awaited record intraday high, after multiple failed attempts throughout the month. However, the major benchmark has since pulled back to flatline. Meanwhile, the Dow Jones Industrial Average (DJI) is swimming in the red as Walmart (WMT) and Home Depot (HD) give back their earlier gains, while the Nasdaq Composite (IXIC) is up at a new 52-week high. Over in Washington, Senate Republicans announced a coronavirus relief plan that includes $10 billion for the United States Postal Service (USPS). Investors are also digesting U.S. housing starts for July -- with 1.496 million topping estimates of 1.24 million. 

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

• Cruise stock sinks on personal data leak. 
• This retail giant just hit a record high after earnings. 
• Plus, ORCL's call volume surges on TikTok bid; GRWG still soaring on quarterly report; and Kohl's crumbles on back-to-school uncertainty. 

One stock seeing notable activity in its options pits is Oracle Corporation (NYSE:ORCL), up 3.4% at $55.85 at last check. So far, 114,000 calls have crossed the tape -- 33 times what's typically seen at this point -- along with 8,106 puts. Most popular is the August 56-strike call, expiring at the end of the week, where new positions are being opened. This surge in volume comes after the company joined in on the fight for the ownership of popular app, TikTok. Year-to-date, ORCL is up 5.2%. 

One stock scaling the Nasdaq today is GrowGeneration Corporation (NASDAQ:GRWG), up 19.1% at $19.25. The company has been soaring the last few days of trading after raising its full-year guidance and reporting higher-than-expected second-quarter revenue and earnings. Up around 124% in the last weekly period, the equity is on track for its fifth-straight month in the black. 

On the other hand, Kohl's Corporation (NYSE:KSS) is dropping on the New York Stock Exchange (NYSE), down 14% at $20.17 at last check, despite reporting a smaller-than-expected quarterly loss and revenue that came in above estimates. Weak back-to-school sales are weighing on the stock. Year-to-date, the stock is down 61%, with the 20-day moving average keeping a cap on earlier gains. 

It was a mixed bag of results on Wall Street today. The Dow registered its second consecutive loss, as both Home Depot (HD) and Walmart (WMT) took a post-earnings hit. However, the S&P 500 finally scored a record close on Tuesday, after coming within a chip-shot of the level for over a week. The Nasdaq Composite also scored a record close of its own, with outsized gains from FAANG names leading the charge. Meanwhile in Washington, D.C., a decision on the second round of coronavirus stimulus is nowhere to be seen.

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

• A telemedicine stock was riding high after a fresh bull note.
• Foot Locker stock tripped ahead of its earnings report.
• Plus, unpacking Walmart's earnings beat; a cruise stock plummets after a ransomware attack; and two cannabis stocks with affordable options.

The Dow Jones Industrial Average (DJI - 27,778.07) dropped 66.8 points, or 0.2% for the day. Nike (NKE) finished with a 1.2% jump, pacing the 12 gainers. Visa (V) paced the 18 laggards with a 0.2% fall.

Meanwhile, the S&P 500 Index (SPX - 3,389.78) added 7.8 points, or 0.2% for the day. The Nasdaq Composite (IXIC - 11,210.84) rose 81.1 points, or 0.7% for today's session.

Lastly, the Cboe Volatility Index (VIX - 21.51) added 0.2 point, or 0.8% for the day.

1. The Postmaster General said he would suspend some changes to the U.S. Postal Service (USPS) until November to avoid impact on 2020 election mail. (CNBC)
2. The wealth of the top 12 billionaires in the U.S. just reached a new milestone of one trillion dollars, according to the Institute for Policy Studies. (MarketWatch)
3. Carnival Cruise stock plunged after a ransomware attack compromised guest data.
4. Options traders were piling on Walmart stock after an earnings beat.
5. These two cannabis stocks have affordably priced options.

Data courtesy of Trade-Alert

Gold Conquers Historical Landmark Once Again

Oil future were flat on Tuesday, as investors waited for U.S. crude supplies data, as well as a Organization for Petroleum and Energy Countries and allies (OPEC+) panel meeting on Wednesday, which will monitor the effects of production cuts by major oil producers. As a result, September-dated crude stayed unchanged at $42.89 a barrel. 

Meanwhile, gold futures extended yesterday's rally, conquering the historical $2,000 landmark again as the dollar grew weaker and government bond yields receded. Gold for December, the most-active contract, rose $14.40, or 0.7%, to settle at $2,012.10 an ounce.

Stock futures are mostly higher this morning, just one session after the S&P 500 Index (SPX) notched a record-high close and pared its losses from the coronavirus selloff.  Futures on the Dow Jones Industrial Average (DJI) are up as well, last seen around 40 points higher, thanks to stellar earnings from retail staples Target (TGT) and Lowe's (LOW). Meanwhile, Nasdaq-100 Index (NDX) futures are hovering just below fair value, despite yesterday scoring a record close. This comes after Treasures Secretary Steven Mnuchin criticized Democratic leaders for not agreeing to a smaller coronavirus relief package, though House Speaker Nancy Pelosi said she is willing to cut some demands. 

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

• These two cannabis stocks are in focus after quarterly reports. 
• A bull signal is flashing for Newell Brands stock.

• Plus, Target's earnings blowout; two ride-share staples making moves in California; and SRNE plummets on CFO firing.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw over 1.4 million call contracts traded on Tuesday, and 645,580 put contracts. The single-session equity put/call ratio fell to 0.46, and the 21-day moving average stayed at 0.47.
2. Target Corporation (NYSE:TGT) reported earnings and revenue that came in substantially above Wall Street's estimates. Additionally, comparable-store sales increased 24.3%, while digital sales nearly tripled from one year ago. As a result, TGT is up 8.2% ahead of the open.
3. According to the New York Times (NYT), Uber Technologies Inc (NYSE:UBER) and Lyft Inc (NASDAQ:LYFT) are considering moving to a licensing model in California to avoid having to reclassify drivers as employees. Both UBER and LYFT are down 0.2% in pre-market trading.
4. Biotech concern Sorrento Therapeutics (NASDAQ:SRNE) fired its Chief Financial Officer Jiong Shao, effective immediately, though a reason for the termination was not provided. As a result, SRNE is tumbling before the bell, last seen down 5.1%.
5. Today investors will digest the latest meeting minutes from the Federal Open Market Committee (FOMC). The earnings docket is full, with reports from Analog Devices (ADI), Children's Place (PLCE), L Brands (LB), TJX (TJX), and Vipshop (VIPS) rolling in.

Markets in Asia were split today, as investors eye increasing tensions between China and Australia. Japan’s Nikkei added 0.3%, after data released showing Japan’s July exports slid 19.2% year-over-year -- better than the forecast 21% decline. The Kospi in South Korea had the best day, closing up 0.5%, while Hong Kong’s Hang Seng dropped 0.7%, and China’s Shanghai Composite lost 1.2%.

Shares in Europe are higher today, as Maersk, the world’s largest shipping firm, rises on positive second-quarter results. The German DAX and London’s FTSE 100 are both up 0.3%, despite U.K. inflation jumping to a four-month high of 1% in July, surpassing the expected 0.6%. Elsewhere, the French CAC 40 has risen 0.2%.

Wednesday's session ended on a grim note, after the Federal Reserve reminded investors of the threat the pandemic still poses to economic activity, employment, and inflation in its July meeting minutes. The warning put a damper on Wall Street, with all three major indexes cutting earlier gains.

The Dow ended firmly in the red, despite Apple's (AAPL) historical $2 trillion market cap crossing at its intraday highs. The S&P 500 and Nasdaq Composite both suffered modest losses as well, while Wall Street's "fear gauge," the Cboe Volatility Index (VIX), logged back-to-back wins for the first time since July 7.

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

• Options bulls eyed Lowe's stock after an earnings beat. 
• A historically bullish signal is flashing for this solar energy stock. 
• Plus, a grocery giant could surge even higher; Target stock delivers a stellar earnings report; and an apparel retailer nabs a record high after a bull note. 

The Dow Jones Industrial Average (DJI - 27,692.88) dropped 85.2 points, or 0.3% for the day. Nike (NKE) finished with a 1.3% jump, pacing the eight gainers. 3M Co (MMM) paced the 22 laggards with a 0.1% fall.

Meanwhile, the S&P 500 Index (SPX - 3,374.85) fell 14.9 points, or 0.4% for the day. The Nasdaq Composite (IXIC - 11,146.46) slashed 64.4 points, or 0.6% for today's session.

Lastly, the Cboe Volatility Index (VIX - 22.54) gained one point, or 4.8% for the day.

1. Facebook is updating its platform to make it easier for users to discover black-owned businesses nationwide, after many were affected by the pandemic. (CNBC)
2. Universities that have opted to bring back students to campus are reporting rises in coronavirus cases, and some are switching back to online learning. (MarketWatch)
3. A short squeeze could push this major grocery stock even higher.
4. Target stock beat Wall Street's estimates as digital sales nearly tripled.
5. This retail stock earned a price target hike thanks to increased demand. 

Data courtesy of Trade-Alert

Gold Suffers Steep Fall as Dollar Regains Strength

Oil futures finished lower on Wednesday, after government data showed a small drop in crude inventories. However, an encouraging decline in gasoline supplies cut further losses. Meanwhile, investors are eyeing the Organization for Petroleum and Energy Countries and allies (OPEC+) panel meeting, in which officials are expected to recommend sticking with the current schedule of production curbs in light of COVID-19. As a result, September-dated crude dropped 4 cents, or 0.1%, to end at $42.93 a barrel.

Meanwhile, gold futures also finished lower, suffering a steep fall as the U.S. dollar regained strength. Traders were also looking ahead to key insights from the Federal Reserve's policy meeting, which provided an outlook for U.S. and global business. Gold for December, the most-active contract, fell $42.80, or 2.1%, to settle at $1,970.30 an ounce.

Stock futures are falling this morning, one session after the S&P 500 Index (SPX) briefly snagged another record close, as concerns about economic recovery and the ongoing coronavirus pandemic weigh on investors' minds. Futures on the Dow Jones Industrial Average (DJI) were last seen down over 100 points, despite news that Washington and Beijing are coming back to the negotiating table in the coming days, a sign of imminent trade talks between the U.S. and China.

Elsewhere, Nasdaq-100 Index (NDX) futures continue to hover just below fair value, as the shares of Nividia (NVDA) tumble in pre-market trading despite last night reporting better-than-expected revenue for the latest quarter. Meanwhile, U.S. weekly jobless claims totaled 1.1 million, which was worse than the expected 923,000.

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

• Retail giant hits record highs on stellar earnings report.
• "Buy" signal flashing for struggling tire manufacturer.

• Plus, BABA saw a huge boost in online activity; International Game Technology Stock pivots higher; and Facebook settled a lawsuit.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw nearly 1.6 million call contracts traded on Wednesday, and 686,408 put contracts. The single-session equity put/call ratio fell to 0.43, and the 21-day moving average rose to 0.48.
2. Alibaba Group Holding Ltd (NYSE:BABA) is falling in pre-market trading, last seen down 0.5%, after the e-commerce giant reported better-than-expected profits and revenue for the fiscal first quarter. It was reported that BABA was helped by pandemic-related online shopping, and the company had 874 million mobile monthly active users in June, well above the 28 million figure from March.
3. International Game Technology PLC (NYSE:IGT) is up 1.8% before the bell, after striking a deal with Boyd Gaming (BYD), in which IGT will provide sports betting technology to the casino operator. International Game's sports betting platform will be made available to Boyd's sportsbooks in Nevada, in addition to its mobile and online betting apps.
4. The shares of Facebook, Inc. (NASDAQ:FB) are flat ahead of the open, after the social media behemoth won preliminary approval to settle a lawsuit regarding the company's illegal collection of facial recognition and other biometric data from users. Previously, Facebook offered to pay $650 million in July to settle the suit.
5. Today investors will keep an eye on initial and continuing jobless claims, as well as the Philadelphia Fed Manufacturing Index. As far as earnings go, Alibaba (BABA), Estee Lauder (EL), Keysight (KEYS), and Sea (SE) will report.

Stocks in Asia struggled during today’s session, with the South Korean Kospi leading the losers after dropping 3.7%. In news, China announced that it would make no changes to its benchmark lending rate, with the one-year loan prime rate (LPR) held at 3.85% and the five-year LPR kept at 4.65%. China’s Shanghai Composite fell 1.3%, Hong Kong’s Hang Seng lost 1.5%, and Japan’s Nikkei dropped 1%.

Markets in Europe are contending with steep losses midday, as investors keep an eye on U.S. Secretary of State Mike Pompeo’s warning to Russia and China regarding Iran, as well as uncertainty around global economic recovery. So far today, London’s FTSE 100 is down 1.3%, the French CAC 40 has dipped 1.2%, and the German DAX has let go of 1.1%.

The Dow Jones Industrial Average (DJI) is up over 250 points midday, extending its morning gains as coronavirus cases fall. Furthermore, the U.S. government is considering fast-tracking a U.K. coronavirus vaccine for use, and the Food and Drug Administration (FDA) Sunday issued an emergency use authorization of convalescent plasma for COVID-19 patients -- which U.S. President Donald Trump stated cut the mortality rate by 35%. In response, various travel stocks are rising.

Meanwhile, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are still in the black, though Apple (AAPL) and Microsoft (MSFT) pulled back from their earlier rallies. In other news, TikTok is suing the U.S. over its ban and oil prices are rising as a pair of tropical storms batters the Gulf of Mexico. At last check, October-dated crude is up 0.6% at $42.59.

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

• Moderna stock dips despite enrollment buzz. 
• Social media giant eyes record high amid bull notes. 
• Plus, Victoria's Secret parent sees call volume surge; TA rises on initiated coverage; and ODT plummets amid trial announcements. 

One stock seeing notable activity in its options pits is L Brands Inc (NYSE:LB), up just 1.2% at $29.60 at last check. LB was moving higher earlier, which may have stemmed off of the company's stellar second-quarter earnings last Wednesday, which lead to two days' worth of bull notes from analysts. So far, 45,000 calls have crossed the tape -- 20 times what's typically seen at this point. Most popular by far, with 40,827 traded, is the weekly 9/4 33-strike call, where new positions are being opened.

One stock scaling the Nasdaq today is TravelCenters of America Inc (NASDAQ:TA), last seen up 17% at $20.20, after BTIG initiated analyst coverage with a "buy" rating and $34 price target. Looking to close above the $20 region for the first time in about a month, the equity is gapping above pressure at the $18, which has been kepping a tight lid on the shares. Year-to-date, the equity is up 18.5%. 

Conversely, dropping lower on the Nasdaq is Odonate Therapeutics Inc (NASDAQ:ODT), down 32.5% at $22.63 at last check. This fall comes despite the company announcing a positive late-stage trial of its chemotherapy agent. Now dropping below $24 for the first time since late March, the equity is down 30.7% in the last six months. 

The S&P 500 Index (SPX) is tentatively in the black midday, climbing to another record high as Target (TGT) outperformed following stellar earnings and a rise in comparable-store sales. Meanwhile, the Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) are also making gains after Apple (AAPL) became the first U.S.-traded company to reach a market cap of $2 trillion. Elsewhere, though coronavirus cases appear to be decreasing, investor sentiment is cautious surrounding the start of the school year. 

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

• Nike stock climbs to new highs after analyst upgrade. 
• Grocery giant "buy" signal flashing. 
• Plus, TJX sees options surge after quarterly report; MNTA soars on billion-dollar deal; and the pharmaceutical stock plummeting on an FDA decision. 

One stock seeing notable activity in its options pits is TJX Companies Inc (NYSE:TJX), down 7.6% at $53.06 at last check, after the company reported a wider-than-expected second-quarter loss and higher-than-anticipated revenue. So far, 20,000 calls and 12,000 puts have crossed the tape -- 11 times what's typically seen at this point. Most popular is the Sept. 62.50-strike call. TJX is still holding onto a 2.4% gain in the last monthly period, with the 80-day moving average swooping in to catch today's pullback. 

Soaring to the top of the Nasdaq today is Momenta Pharmaceuticals Inc (NASDAQ:MNTA), last seen up 69.3% at $52.18. MNTA is roaring past its former record high, after news that Johnson & Johnson (JNJ) plans to buy the company for $6.5 billion in cash. Year-to-date, the stock is up an impressive 164.4%. 

On the opposite end of the Nasdaq is another pharma stock, BioMarin Pharmaceutical Inc (NASDAQ:BMRN), which is set for its worst day in 11 years -- down 40% at $80.63 at last check. Today's drop comes after the Food and Drug Administration (FDA) failed to approve the company's bleeding disorder treatment. Evercore ISI subsequently downgraded the stock to "in-line" from "outperform," with a price-target cut to $80 from $140, while Piper Sandler cut its price target to $123 from $133. Year-to-date, the equity is down 6.3%. 

All three major indexes finished higher on Monday, building off of last week's record closes, thanks to some positive coronavirus news. Cases in the U.S. continued to decline, with the number of new daily infections down by almost half. A new COVID-19 treatment that uses recovered patient's blood plasma, as well as the government fast-tracking of AstraZeneca's (AZN) experimental vaccine also contributed to investor sentiment. The Dow finished over 300 points higher, extending its gains in the final hour of trading. Resurgent airline and cruise stocks, as well as continued upside from Big Tech helped the S&P 500 and Nasdaq secure their fifth-straight wins and second-straight record closes. 

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

• American Airlines stock soared thanks to a coronavirus disinfectant. 
• A bullish signal could send this car stock speeding up the charts.
• Plus, options bears set their eyes on AT&T stock; Pinterest stock downgraded; and a vaccine stock could be feeling pressure from the competition. 

The Dow Jones Industrial Average (DJI - 28,308.46) added 378.1 points, or 1.4% for the day. Boeing (BA) finished with a 6.4% jump, pacing the 25 gainers. Pfizer (PFE) paced the five laggards with a 0.1% fall.

Meanwhile, the S&P 500 Index (SPX - 3,431.28) earned 34.1 points, or 1% for the day. The Nasdaq Composite (IXIC - 11,379.72) gained 67.9 points, or 0.6% for today's session.

Lastly, the Cboe Volatility Index (VIX - 22.37) dropped 0.2 point, or 0.8% for the day.

1. ByteDance, the owners of TikTok, filed a lawsuit against the U.S. government arguing the company was denied due process to prove it isn't a threat. (CNBC)
2. Global dividend payments are at their lowest in more than a decade, as companies protect their balance sheets during the pandemic. (MarketWatch)
3. AT&T stock is struggling to conquer several resistance levels on the charts.
4. A brokerage firm said this social media stock's valuation is not compelling.
5. This vaccine stock was down after news its competitor could be fast-tracked.

There were no notable earnings reports today.

Data courtesy of Trade-Alert

Gold Extends Losses Due to New COVID-19 Treatment 

Oil futures finished higher on Monday, breaking a two-day losing streak as two tropical storms closed in on the Gulf of Mexico, forcing offshore drilling rigs that are responsible for more than half of the region's crude production, as well as almost half of the natural-gas output, to shut down. As a result, October-dated crude added 28 cents, or 0.5%, to end at $42.62 a barrel.

Meanwhile, gold futures settled lower, extending last week's losses after investor sentiment was lifted by the U.S. Food and Drug Administration's (FDA) authorized use of convalescent plasma, an antibody-rich component for treatment of serious COVID-19 cases. Gold for December, the most-active contract, fell $7.80, or 0.4%, to settle at $1,939.20 an ounce.

After another record-setting session on Wall Street yesterday, stock futures are mostly higher this morning, with the Dow Jones Industrial Average (DJI) up over 150 points above fair value, thanks to bubbling optimism surrounding the decrease in newly confirmed coronavirus infections in the U.S. Investors are also eyeing a major shake-up to the blue chip index, with Salesforce.com (CRM), Amgen (AMGN) and Honeywell (HON) joining the benchmark -- effective Aug. 31. 

Meanwhile, S&P 500 Index (SPX) futures are poised for another big move, after closing above 3,400 for the first time ever on Monday. Futures on the Nasdaq-100 Index (NDX) are flat, however, taking a breather after notching its second-consecutive closing high yesterday. 

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

• Options bears are targeting this middling mobile phone stock.
• Schaeffer's Senior Market Strategist Todd Salamone asks two "money questions."

• Plus, J M Smucker's earnings beat; a look at Apple's Fortnite drama; and Zoom Video is back up and running.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw over 1.6 million call contracts traded on Monday, and 676,282 put contracts. The single-session equity put/call ratio fell to 0.42, and the 21-day moving average stayed at 0.47.
2. J M Smucker Co (NYSE:SJM) is up 4% ahead of the bell, after the food producer reported fiscal first-quarter earnings and revenue that came in well above analysts' estimates. The company also raised its full-year forecast amid strong demand for some of its products, especially coffee.
3. Apple Inc. (NASDAQ:AAPL) is making headlines after a judge blocked its removal of an Epic Games tools used to run offerings from hundreds of app makers. The ruling is part of an ongoing dispute that concerns Apple blocking Epic's Fortnite for iOSs users. AAPL is down 0.5% in pre-market trading as a result. 
4. Service has been restored for Zoom Video Communications Inc (NASDAQ:ZM) after a Monday outage that lasted several hours -- preventing users from joining meetings and signing up for accounts. The shares of Zoom stock are down 1.3% before the open. 
5. Economic data featured today includes the consumer confidence index, Case-Shiller home price index, and new home sales. Earnings will pick up, with Best Buy, Hewlett Packard Enterprise (HPE), Hormel Foods (HRL), Intuit (INTU), Salesforce.com (CRM), Pure Storage (PSTG) and Urban Outfitters (URBN) all reporting. 

Stocks in Asia ended today’s session mixed, after U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin joined a call with Chinese Vice Premier Liu He to discuss the Phase One Agreement between the two countries. South Korea’s Kospi rose 1.6%, while Japan’s Nikkei added 1.4%. Meanwhile, Hong Kong’s Hang Seng fell 0.3%, while China’s Shanghai Composite backpedaled 0.4%.

In Europe, markets are higher midday, taking a cue from more positive global sentiment. The DAX in Germany is up 0.7%, despite economic data showing its economy shrank by 9.7% in the previous three months. Elsewhere, the French CAC 40 has tacked on 0.9%, and London’s FTSE 100 has gained 0.07%.

The Dow Jones Industrial Average (DJI) is down around 140 points midday, giving back early-morning gains amid a major shake-up in blue-chip stocks. Meanwhile, the S&P 500 Index (SPX) is hovering at breakeven despite hitting a fresh record high out of the gate, while the Nasdaq Composite (IXIC) is holding on to a modest gain and gunning for its sixth-straight win.

Some of this pivot is due to data on consumer confidence for August, down to 84.8 from July's 91.7 -- a new pandemic low after the summer spike in coronavirus cases. In other U.S. economic data, U.S. home prices rose in June, and sales of new single-family homes rose 14% between June and July.

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

• J M Smucker stock eyes its best day in months after positive quarterly report. 
• This airliner couldn't avoid pilot furloughs any longer. 
• Plus, Best Buy stock sees options surge amid sales warning; SWBI rises on reinstated coverage; and PLCE plummets on quarterly losses. 

One stock seeing notable activity in its options pits is Best Buy Co Inc (NYSE:BBY). So far, 41,000 calls and 22,000 puts have crossed the tape -- options volume that is running at 10 times the average intraday amount. Most popular is the weekly 8/28 115-strike call, where new positions are being opened. Buyers of these calls are betting on more upside for BBY by the end of this week, when the contracts expire. The stock is down 5.7% at $110.71 at last check, after the electronics retailer reported a sales growth warning attached to its second-quarter earnings report.

One stock scaling the Nasdaq today is Smith & Wesson Brands Inc (NASDAQ:SWBI), up 12.6% at $18.08 at last check. Cowen and Company reinstated its "outperform" rating -- with a price target of $24 -- citing that the recently completed split with American Outdoor makes SWBI a firearms "pure play" with great potential. Year-to-date, the stock is up 149.2%. 

Conversely, dropping lower on the Nasdaq is Children's Place Inc (NASDAQ:PLCE), last seen down 15.3% at $19.74. The apparel company reported wider-than-expected second-quarter losses that are weighing on the equity. PLCE is now down 68.4% year-to-date.