The Dow Jones Industrial Average (DJI) is modestly higher at midday, swinging into positive territory after spending most of the morning in the red thanks to a negative earnings reaction for Home Depot (HD). The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have also erased earlier losses, as investors digest the latest remarks from Fed Chair Jerome Powell. In the first day of his semi-annual testimony before Congress, Powell warned of "crosscurrents and conflicting signals" to a generally healthy U.S. economy, but noted the Fed is ready to adjust its monetary policy, as necessary. Wall Street is also weighing an onslaught of economic data, including a bigger-than-expected rise in consumer confidence in February. 

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

• The buzz that has this weed stock climbing.
• UBS is selling Caterpillar stock on global growth risk.
• Plus, pre-earnings options bears bet on more trouble for Campbell Soup; earnings beat powers AutoZone stock; and Blue Apron pulls back.

Options volume is accelerated on Campbell Soup Company (NYSE:CPB). More than 7,900 puts have changed hands, nine times the average intraday amount and eight times the number of calls traded. The weekly 3/1 31.50-strike put is the most popular option so far today, and it looks like speculators are purchasing new positions here to bet on more downside through this Friday's close. CPB stock is up 1.5% to trade at $32.76, but has shed 6.5% in the past week ahead of the company's fiscal second-quarter earnings report, due before the open tomorrow, Feb. 27.

AutoZone, Inc. (NYSE:AZO) is up 5.4% to trade at $937.15, the best stock on the S&P 500 so far today. The auto parts retailer reported fiscal second-quarter earnings that exceeded expectations, as well as same-store sales numbers that surpassed analyst estimates. AZO earlier nabbed a fresh record high of $964.39, and boasts a nearly 12% year-to-date lead.

Blue Apron Holdings Inc (NYSE:APRN) is a notable decliner today, down 5.4% to trade at $1.30, although the catalyst is unknown. Prior to today's pullback, APRN has more than doubled off its Dec. 21 record low of $0.65 to yesterday's close at $1.38. And despite today's drop, the shares are finding support at their 100-day moving average. 

Wall Street was mostly focused on President Donald Trump's Twitter account today, and the Dow muscled higher as a result -- though the index settled well off its session high. President Trump on Sunday evening tweeted about the progress in U.S.-China trade talks and extended his March 1 tariff deadline. The president also tweeted about his dismay for oil prices that are "too high," which sent crude futures lower. Traders also considered headlines on the M&A front, while corporate earnings could be back in focus tomorrow, with names like Home Depot and Macy's set to report.

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

• The 25 best stocks for March, historically.
• How the options crowd is speculating on Home Depot earnings.
• Bearish analyst call sent one marijuana stock tumbling today. 
• Plus, a closer look at Macy's earnings; a huge win for option bears; and a healthcare stock with 50% upside.

The Dow Jones Industrial Average (DJI - 26,091.95) was up more than 200 points at its session peak, but ultimately settled with a gain of 60.1 points, or 0.2%. Twenty of the 30 Dow stocks ended higher, led by DowDuPont (DWDP) and trade-sensitive Caterpillar (CAT), both up 2%. Walt Disney (DIS) paced the 10 laggards with a 1.4% drop.

The S&P 500 Index (SPX - 2,796.11) rose 3.4 points, or 0.1%, and the Nasdaq Composite (IXIC - 7,554.46) added roughly 27 points, or 0.4%, after moving above the 7,600 level in intraday trading -- a first since October.

The Cboe Volatility Index (VIX - 14.85) bounced 1.3 points, or 9.9%.

5 Items on our Radar Today

1. Just months after Harley-Davidson released its own electric motorcycle, privately owned Zero Motorcycles just revealed two new models. The standard model starts at $18,995, coming in much cheaper than Harley's LiveWire. (CNBC)
2. The Wall Street Journal today released a report discussing the increase in prices of foods that are seen as healthy fats, such as avocados and olive oil. Producers have struggled to keep up with the growing demand, and there have been shortages in items such as European-style butter. (Fortune)
3. The chart level Macy's speculators are targeting. 
4. How options traders won big on this stock's sell-off.
5. Analyst sees more than 50% upside for one healthcare stock.

Data courtesy of Trade-Alert

Oil Sinks After Trump Tweet

Trump's tweet about high oil prices sent black gold lower on the day, though there were also reports that the Organization of the Petroleum Exporting Countries (OPEC) is planning on more output cuts. April-dated crude futures finished down $1.78, or 3.1%, at $55.48 per barrel.

Gold prices struggled amid the risk-on session for equities. Gold for April delivery fell $3.30, or 0.3%, to end at $1,329.50 an ounce.

U.S. stocks traded on both sides of breakeven today, as traders digested earnings, economic data, and commentary from Fed Chair Jerome Powell. The Dow ultimately ended lower, on Home Depot's (HD) poor earnings reaction and an analyst-induced Caterpillar (CAT) pullback, while tech strength couldn't keep the Nasdaq and S&P 500 afloat. Also grabbing headlines was a surprisingly strong consumer confidence report for February, which helped to offset ugly housing data. Powell's congressional testimony was in focus, too, with the Fed leader insisting the central bank will remain flexible with interest rates and its balance sheet reduction.

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

• Tesla put options popped during the SEC drama.
• The D.C. rumors that weighed on Spotify shares.
• The worst stocks to own in March, historically.
• Plus, an airline stock in trouble; pot stock jumps; and a huge earnings winner.

The Dow Jones Industrial Average (DJI - 26,057.98) settled down 34 points, or 0.1%, even though 16 of its 30 components closed in the black. Cisco Systems (CSCO) had the best day, rising 0.8%, while CAT's 2.4% decline put it at the bottom of the Dow.

The S&P 500 Index (SPX - 2,793.90) gave back 2.2 points, or 0.1%, and the Nasdaq Composite (IXIC - 7,549.30) dipped 5.2 points, or 0.1%.

The Cboe Volatility Index (VIX - 15.17) moved up 0.3 point, or 2.2%.

5 Items on our Radar Today

1. A federal appeals judge ruled today to allow AT&T's (T) purchase of Time Warner, dealing a blow to the U.S. Department of Justice. AT&T formally closed the deal back in July. (CNBC)
2. Walmart is looking to ramp up its advertising business, announcing today it's combining its digital and in-store advertising teams. The move comes as many analysts have cited the growth opportunity in advertising for retail rival Amazon.com (AMZN). (Reuters)
3. Signal says American Airlines could be due to sink. 
4. The deal that had pot stock Aphria climbing the charts.
5. Inside Vitamin Shoppe's huge earnings move.

Data courtesy of Trade-Alert

Little Movement in Oil and Gold

Oil prices gained slightly today after Monday's deep losses. April-dated crude futures finished with a 2-cent, or 0.05%, gain to end at $55.550 per barrel.

Gold prices failed to gain today despite weakness in the dollar. Gold for April delivery fell $1, or 0.1%, to $1,328.50 an ounce.

Dow Jones Industrial Average (DJI) futures are lower again today, amid a summit between President Donald Trump and North Korean leader Kim Jong Un in Vietnam, with the leaders attempting to resolve gridlock over Pyongyang's nuclear weapons. In addition, Wall Street is watching escalating tensions between Pakistan and India, after the countries shot down each others' fighter planes. Traders are also awaiting another day of congressional testimony from Fed Chair Jerome Powell, who yesterday reiterated the Fed's "patient" stance on monetary policy. 

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

• The S&P hasn’t done this since 1987 – the year of Black Monday -- according to Schaeffer's Senior Quantitative Analyst Rocky White.
• The Amazon rival that could drop another 37%, according to one analyst.
• Technical signal could mean even more turbulence for this travel stock. 
• Plus, Best Buy shines; Tandem celebrates an earnings win; KPTI suffers after an FDA panel vote. 

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 953,320 call contracts traded on Tuesday, compared to 571,734 put contracts. The single-session equity put/call ratio rose to 0.60, and the 21-day moving average rose to 0.61.
2. Best Buy Co Inc (NYSE:BBY) shares are pointed 12% higher in pre-market trading, after the electronics retailer reported stronger-than-expected sales in the holiday quarter, and issued upbeat full-year guidance. BBY stock has already added nearly 12% in 2019, and just took out its 80-day moving average for the first time since September.
3. Tandem Diabetes Care Inc (NASDAQ:TNDM) shares are 17.2% higher on fourth-quarter earnings and revenue that exceeded analysts' expectations. In addition, the company issued strong full-year guidance. As a result, several analysts have already upped their price targets, including Cowen and Baird. TNDM has already skyrocketed more than 1,400% in the past year, and today’s rally should take the stock north of its September highs.
4. The shares of Karyopharm Therapeutics (NASDAQ:KPTI) are down 12.7% in electronic trading, after a Food and Drug Administration (FDA) panel voted against accelerated approval for the pharma company’s new cancer drug selinexor. KPTI just saw a record one-day drop on Feb. 22, amid FDA concerns about the drug, and the stock should hit record lows today.
5. International trade data is due on the economic schedule, as well as data on mortgage applications, factory orders, retail and wholesale inventories, weekly crude inventories, and pending home sales. Powell will wrap up his Washington, D.C., testimony in the morning. Quarterly earnings from Amarin (AMRN), Box (BOX), Campbell Soup (CPB), Chesapeake Energy (CHK), Dean Foods (DF), Fitbit (FIT), L Brands (LB), Lowe's (LOW), Monster Beverage (MNST), Perrigo (PRGO), Square (SQ), TJX Companies (TJX), and Wingstop (WING) are also due.

Global Markets Eye U.S.-North Korea Talks

Asian stocks were mostly higher today, as investors await details from the meeting between President Trump and Kim Jong Un. China's Shanghai Composite closed 0.4% higher, while Hong Kong's Hang Seng shed 0.05%. Japan's Nikkei gained 0.5% thanks to a weakening yen and a big day from Fast Retailing. Rounding out the region, South Korea's Kospi added 0.4%, as Hyundai Motor rallied amid rising pressure from activist investor Elliot Management.

Over in Europe, markets are lower, with all eyes on Vietnam. London's FTSE 100 is down 0.8% at last check, as banking giant Metro sinks after announcing a $464 million share sale in the wake of a massive accounting error. The French CAC 40 is off by 0.2%, dragged down by a rough outing from Air France-KLM after the Dutch government unexpectedly doubled its stake in the company. Lastly, the German DAX is off 0.4%.

The Dow Jones Industrial Average (DJI) is sharply lower at midday, down nearly 150 points amid flurry of market-moving events. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are joining the Dow in the red, after U.S. Trade Representative Robert Lighthizer said in congressional testimony that "much still needs to be done" to achieve a trade deal with China.

Also in focus is a denuclearization meeting between President Donald Trump and North Korean leader Kim Jong Un in Vietnam, as well as congressional testimonies from Fed Chair Jerome Powell and Trump's former lawyer, Michael Cohen. Traders are digesting a round of economic data, too, including a slimmer-than-expected rise in December factory orders and larger-than-forecast bounce in January pending home sales. Plus, the U.S. goods trade deficit surged 12.8% in December.

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

• This weed stock is crushing shorts today.
• Bear notes have swiftly followed a dismal Weight Watchers earnings report.
• Plus, options traders eye quick Macy's pullback; Micron takes a breather; and Vitamin Shoppe stays hot.

Options volume is accelerated on Macy's Inc (NYSE:M). Nearly 42,000 options have changed hands, three times the average intraday amount and volume pacing in the 92nd percentile. The weekly 3/1 25-strike put is the most popular option so far today, and it looks like speculators are purchasing new positions here to bet on downside through this Friday's close. Macy's stock is up 2.2% to trade at $25.26, pushing above a key level and extending yesterday's earnings-induced upside.

Micron Technology, Inc. (NASDAQ:MU) is down 3.6% to trade at $41.40, one of the worst stocks on the S&P 500 today. The semiconductor stock is taking a breather after gaining earlier this week on Trump's tariff announcement, falling back below resistance at its 160-day moving average. Despite today's pullback, MU has gained 46% since its Dec. 26 bottom at $28.39.

Vitamin Shoppe Inc (NYSE:VSI) is up 6.6% to trade at $7.42, one of the top stocks on the New York Stock Exchange (NYSE) today. The nutritional supplements retailer is extending its gains after yesterday's upbeat earnings report. VSI has now added nearly 56% year-to-date as it closes in on its 200-day trendline. 

It was another session of choppy trading on Wall Street, with the Dow settling the day in the red. While the Nasdaq managed to move higher, the S&P 500 failed to gain momentum, stalling out just below the closely watched 2,800 level. Traders did their best to monitor the concurrent congressional testimonies of Fed Chair Jerome Powell, U.S. trade representative Robert Lighthizer, and President Donald Trump's former lawyer Michael Cohen. Outside of the States, President Trump's meeting with North Korea's Kim Jong Un made headlines, as did escalating tensions between India and Pakistan.

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

• The rare VIX signal pointing to a spring volatility spike.
• 2 energy stocks that could run to new highs. 
• One software stock's mind-boggling win streak.
• Plus, a bullish GLUU signal; Planet Fitness could keep running higher; and one retailer has a historic day.

The Dow Jones Industrial Average (DJI - 25,985.16) lost 72.8 points, or 0.3%, putting it in the red for the week. Sixteen of 30 Dow components closed in the red, and the biggest loss was 4.9% from UnitedHealth (UNH). Boeing (BA) had the best day, adding 2%, and Goldman Sachs (GS) closed flat.

The S&P 500 Index (SPX - 2,792.38) dipped 1.5 points, or 0.05%, while the Nasdaq Composite (IXIC - 7,554.51) grabbed a 5.2-point, or 0.1%, win. 

The Cboe Volatility Index (VIX - 14.70) lost 0.5 point, or 3.1%.

5 Items on our Radar Today

1. Debt held by American farmers has jumped to levels not seen since the 1980s. The demand for loans has grown in an environment of lower commodity prices, increased storm damage, and the loss of key export markets amid the U.S.-China trade war. (Reuters)
2. Following in-step with Amazon, FedEx just revealed the FedEx SameDay Bot. The tiny delivery robot is meant to specialize in navigating the final mile or so to a customer's house. (USA Today)
3. This signal says to stay with GLUU.
4. Planet Fitness analysts think the post-earnings rally has legs.
5. The retailer that had one of its best days in years.

Data courtesy of Trade-Alert

Oil Jumps on Inventory Surprise

Government data showing a surprise 8.6-million-barrel drop in U.S. crude inventories propelled oil prices higher today. April-dated crude futures rose $1.44, or 2.6%, to $56.94 per barrel.

Gold prices slipped despite the weakness in equities. Gold for April delivery settled down $7.30, or 0.6%, at $1,321.20 an ounce.

Dow Jones Industrial Average (DJI) futures are marginally lower again today, after a summit between U.S. and North Korea leaders prematurely ended without an agreement -- or plans for a third summit -- in sight. Traders are also digesting better-than-expected fourth-quarter gross domestic product (GDP) data, with GDP rising 2.6%, compared to the 2.2% expected. While the Dow is on pace for a weekly loss, the blue-chip barometer is set to finish February with a solid gain.

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

• This mobile stock could soar, if past is prologue.
• A holiday earnings beat had this retail stock running toward its best day in years.
• 2 pharma stocks soaring this week. 
• Plus, JCP gets a boost on earnings buzz; Western Union sells Speedpay; and Baird weighs in ahead of a big Tesla announcement.

Five Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.04 million call contracts traded on Wednesday, compared to 564.022 put contracts. The single-session equity put/call ratio fell to 0.54, and the 21-day moving average fell to 0.60.
2. J C Penney Company Inc (NYSE:JCP) shares are pointed 16% higher in pre-market trading, after the retailer reported fourth-quarter earnings and revenue that exceeded analysts’ expectations. JCP has been trading in a channel of lower highs and lows since its post-earnings bear gap in August, and after bottoming at an all-time low of $0.92 on Dec. 27, has spent most of 2019 between the $1.20 and $1.40 levels. The shares today could break out of that channel, and look to top their 120-day moving average for the first time since April. 
3. The Western Union Company (NYSE:WU) shares are 1.1% higher, after the financial company said it would be selling its Speedpay bill-paying unit to ACI Worldwide (ACIW) for $750 million in cash. The company also announced a buyback program worth $1 billion. WU has rebounded off its three-year low of $16.42 from Dec. 26, but upside momentum stalled around its 160-day moving average.
4. The shares of Tesla Inc (NASDAQ:TSLA) are up 1.5% in electronic trading, after Baird called the stock a "Fresh Pick" and reiterated its "outperform" rating. The analyst called the negativity around Tesla's Model 3 demand overblown. After the close, CEO Elon Musk is expected to deliver “news,” after he found himself back in hot water with the Securities and Exchange Commission (SEC) earlier this week. The stock has been attempting to close its mid-January bear gap, but has stalled around its 200-day moving average.  
5. The economic schedule is highlighted by weekly jobless claims, the Chicago purchasing managers manufacturing index (PMI), and the Fed's balance sheet. Fed Vice Chair Richard Clarida will speak in the morning, followed by remarks from Atlanta Fed President Raphael Bostic and Philadelphia Fed President Patrick Harker later in the day.

Asian Markets Take Hit on Summit News; Europe Eyes India- Pakistan Tensions

Markets in Asia took a hit today as investors reacted to news that the Trump-Kim summit concluded without an agreement. South Korea's Kospi responded with a 1.8% drop, as trade-sensitive stocks like chipmaker SK Hynix were pummeled. Elsewhere, China's Shanghai Composite and Hong Kong's Hang Seng both shed 0.4%, as China's official Purchasing Managers Index (PMI) for February fell to its lowest levels in three years. Rounding out the region, Japan's Nikkei gave back 0.8%.

Stocks in Europe are mixed at midday amid resurfaced geopolitical tensions. In addition to the North Korea developments, investors are also monitoring tensions between India and Pakistan, after Pakistani Prime Minister Imran Khan promised to release captured Indian wing commander Abhinandan Varthaman on Friday. At last check, London's FTSE 100 is down 0.5%, while the French CAC 40 and German DAX are trading right around breakeven.

The Dow Jones Industrial Average (DJI) is marginally lower at midday, heading toward its third straight loss. The downside is being held in check by a better-than-expected fourth-quarter gross domestic product (GDP) reading, though. The S&P 500 Index (SPX) is also on track for a third straight loss, as weak earnings from Booking Holdings (BKNG) weigh on the consumer discretionary sector and traders digest the failed nuclear summit between President Donald Trump and North Korean leader Kim Jong Un. Nevertheless, the Dow, SPX, and Nasdaq Composite (IXIC) are all headed toward big February gains.

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

• Tesla stock gets "Fresh Pick" status ahead of today's big announcement.
• The latest biotech to join the cannabis craze.
• Plus, Kraft options bulls strike amid buyout buzz; and SeaWorld and Monster Beverage soar on upbeat earnings reports.

Options volume is accelerated on Kraft Heinz Co (NASDAQ:KHC). More than 42,000 call options have changed hands, four times the average intraday amount and triple the number of puts traded. The March 32.50 call is leading the charge today, and it looks like new positions are being purchased. KHC is up 4.1% to trade at $33.50, on track to snap a five-day skid on buyout buzz. But thanks to a combination of bear notes and dismal earnings, Kraft stock is headed toward its worst month ever.

SeaWorld Entertainment Inc (NYSE:SEAS) is up 9.1% to trade at $27.64, one of the best stocks on the New York Stock Exchange (NYSE) today. The theme park operator reported a slimmer-than-expected fourth-quarter loss, while revenue and park attendance figures also exceeded expectations. In the span of a month, SEAS has shaken off an orca death to add 25% year-to-date, and today is on pace to close above former resistance at its 100-day moving average for the first time since December.

Meanwhile, the top stock on the S&P 500 today is Monster Beverage Corp (NASDAQ:MNST), up 9.7% to trade at $64.42. The beverage company's fourth-quarter earnings and revenue blew past expectations thanks to strong international sales. No fewer than seven price-target hikes have ensued, including one to $74 from $71 at Jefferies. MNST earlier tapped an annual high of $66.38, and has gapped away from short-term resistance at the $60-$62 area. 

Stocks were unable to recover from the conclusion of futile U.S.-North Korea talks, with the major market indexes ending lower despite better-than-anticipated fourth-quarter gross domestic product (GDP) data. In addition, weak factory data out of China weighed on stocks. As such, the Dow and S&P each suffered a third straight loss, but -- along with the Nasdaq -- snagged a monthly win. 

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

• An SEC investigation slammed this healthcare stock.
• This penny stock gapped higher on FDA news.
• 2 drug stocks that got destroyed today.
• Plus, the ETF attracting attention amid India-Pakistan conflict; Tesla teases a big reveal; and Victoria's Secret sales disappoint.

The Dow Jones Industrial Average (DJI - 25,916.00) shed 69.2 points, or 0.3%, on the day. Fourteen of 30 Dow components closed in the black. At the top for the second day in a row was Boeing (BA), which added 1%, while UnitedHealth (UNH) fared the worst and shed 3.1%. For February, the Dow added 3.7%.

The S&P 500 Index (SPX - 2,784.49) fell 7.9 points, or 0.3%, while the Nasdaq Composite (IXIC - 7,532.53) sank 22 points, or 0.3%.  Looking at the month, the indexes added 3% and 3.4%, respectively. 

The Cboe Volatility Index (VIX - 14.78) tacked on 0.08 point, or 0.5%. For the month, the VIX shed 10.8%.

5 Items on our Radar Today

1. A report out of Reuters stated Apple (AAPL) has laid off 190 employees from its self-driving car sector, adding yet another blow to its automobile endeavor. Most layoffs were reportedly hardware and software engineers. (MarketWatch)
2. The Census Bureau released housing data that showed 64.8% of all Americans are homeowners -- an almost five-year high. Generation X is at the forefront, as buyers in their mid-30s and 40s step back into the housing market after the 2008 crash. (Bloomberg)
3. Tensions with Pakistan fueled accelerated volume on this Indian ETF.
4. Tesla was named a top pick ahead of a 5 p.m. announcement from Elon Musk.
5.  L Brands stock sank on disappointing Victoria's Secret sales.

Data courtesy of Trade-Alert

Crude Ends February With Big Gain

April crude closed higher as investors continue to digest yesterday's surprise inventories drop. Oil added 28 cents, or 0.5%, to settle at $57.22 per barrel on the day. For the month, crude added more than 6%. 

Gold fell as GDP data surpassed estimates, and as the dollar gained ground. April-dated gold sank $5.10, or 0.4%, to close at $1,316.10 per ounce -- a two-week low. For February, the precious metal suffered a 0.7% loss.

Dow Jones Industrial Average (DJI) futures are signaling a strong start to March, last seen more than 170 points above fair value on fresh U.S.-China trade optimism. A Bloomberg report indicated officials from the two countries are preparing a trade agreement for President Donald Trump and Chinese President Xi Jinping to potentially sign by mid-March. Elsewhere, investors are digesting a 0.2% monthly rise in the December core personal consumption expenditures (PCE) index, while the reading was unchanged at 1.9% on a year-over-year basis. Plus, consumer spending fell 0.5% in December, its largest drop in nine years.

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

• What Martha Stewart joining the CBD craze means for this penny stock. 
• Cerner stock is headed for new lows, according Morgan Stanley. 
• This heavily shorted biotech suffered big losses before earnings.  
• Plus, Tesla sinks post-Musk announcement; Marriott drops on weak revenue; and more trouble for Karyopharm.

Five Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Thursday, compared to 695,722 put contracts. The single-session equity put/call ratio jumped to 0.63, and the 21-day moving average remained at 0.60.
2. Tesla Inc (NASDAQ:TSLA) is down 4% in electronic trading, after CEO Elon Musk announced a cheaper version of its Model 3 sedan, a shift to online sales only, and an expected loss the first quarter. Musk had teased a big announcement earlier this week on Twitter amid a busy stretch of headlines. TSLA is below its year-to-date breakeven level, and it appears the shares' 100-day moving average has emerged as short-term resistance.
3. Marriott International Inc (NASDAQ:MAR) is down 1.2% ahead of the bell. The hotel chain reported fourth-quarter earnings above estimates, but revenue and 2019 profit guidance fell short of expectations. As of yesterday's close, MAR had added 25% off its Christmas Eve bottom near $100. Now, the stock is at risk of snapping its five-week winning streak. 
4. The shares of Karyopharm Therapeutics Inc (NASDAQ:KPTI) are down in electronic trading, after J. P. Morgan Securities downgraded the biotech name to "neutral" from "overweight," while slashing its price target to $7 from $21. KPTI fell to a record low of $4.02 yesterday, and has shed 80% of its value in the last six months thanks to unfavorable Food and Drug Administration (FDA) rulings and negative earnings reactions.
5. The economic schedule will feature Markit's services purchasing managers manfuacturing index (PMI), the Institute for Supply Management (ISM) manufacturing index, and the Baker-Hughes rig count. Atlanta Fed President Raphael Bostic will speak in the afternoon. Foot Locker (FL) will report earnings.

Asian, European Markets Up on Chinese Manufacturing Data

Asian markets closed higher today, led by a 1.8% surge for China's Shanghai Composite after index provider MSCI outlined plans to increase the weighting of mainland stocks in its global benchmarks to 20% from 5% by November. Meanwhile, the Caixin/Markit manufacturing purchasing managers index (PMI) arrived at 49.9 in February to mark the third straight month of contracting factory activity -- but the reading was an improvement from January's 48.3, and topped consensus estimates. Japan's Nikkei closed the day up 1%, while Hong Kong's Hang Seng gained 0.6%. South Korea's Kospi was closed for holiday.

European stocks are also on positive ground at midday, with auto stocks catching a lift from well-received Chinese manufacturing data. Plus, following upbeat earnings results from Italy's Moncler, Chief Operating Officer Roberto Eggs said on a conference call he's "very happy" about the luxury group's performance on the Chinese mainland in the early innings of 2019. Elsewhere in the region, traders are reacting to the biggest jump in Germany's retail sales since October 2016, and a big post-earnings rally from London-listed ad giant WPP. At last check, the German DAX is up 1.2%, France's CAC 40 is 0.7% higher, and London's FTSE 100 has gained 0.5%.

Dow Jones Industrial Average (DJI) futures are pointed confidently higher this morning, thanks to more optimistic U.S.-China trade headlines. More specifically, a Wall Street Journal report on Sunday indicated that trade negotiations between the two countries were in their final stages, and a deal could be signed by the end of the month. The report also suggests China is willing to reducing tariffs on certain U.S. goods, including automobiles. Oil prices are in focus, too, with April-dated crude futures up 1.2% at $56.48 per barrel. Elsewhere, Tesla (TSLA) is in the news once more, this time after announcing plans to unveil its Model Y SUV on March 14. 

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

• FAANG rumors triggered a Kroger stock sell-off.
• Capri calls were hot after a bullish Jefferies note.
• This financial stock just flashed a bullish options signal.
• Plus, Eli Lilly introduces cheaper insulin; Foot Locker gets analyst love; and Alibaba announces Office Depot team-up.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.2 million call contracts traded on Friday, compared to 744,655 put contracts. The single-session equity put/call ratio fell to 0.60, and the 21-day moving average slipped to 0.60.
2. Eli Lilly and Co (NYSE:LLY) stock is up 0.5% in electronic trading, after the drugmaker introduced a new lower-priced insulin that is 50% cheaper than the brand-name version. LLY is fresh off a record high of $129.42 from Friday, and sports a 12-month gain of 67%. 
3. Foot Locker, Inc. (NYSE:FL) stock is up 0.8% ahead of the bell after Pivotal Research upgraded the retailer to "buy" from "neutral." In addition, four other brokerages have issued price-target hikes, including Guggenheim to $73 from $66. FL is coming off an annual high of $68 on Friday, thanks to an upbeat earnings report. 
4. The shares of Alibaba Group Holding Ltd (NYSE:BABA) are up 1.4% in electronic trading, after the Chinese e-tailer announced a partnership with Office Depot (ODP). BABA has gained 34% already in 2019, with pullbacks contained by its ascending 20-day moving average.
5. The week kicks off with data on motor vehicles sales and construction spending. There will also be earnings reports from Ctrip.com (CTRP) and Salesforce.com (CRM).

Trade Optimism Fuels Strong Days in Asia, Europe

Most Asian markets finished higher today, led by a 1.1% advance for China's Shanghai Composite amid anticipation for an imminent U.S. trade deal. Elsewhere in the region, Japan's Nikkei rose 1%, and Hong Kong's Hang Seng added 0.5%. However, South Korea's Kospi shed 0.2% after a long holiday weekend, with automakers Kia and Hyundai among the biggest laggards.

European equities are cautiously higher at midday, with U.S.-China trade speculation in focus. Closer to home, Daily Mail shares have jumped more than 4% in London on plans to return a 49% stake in Euromoney, plus 200 million pounds in cash, to eligible shareholders. At last check, London's FTSE 100 is up 0.8%, the French CAC 40 has tacked on 0.7%, and Germany's DAX has edged its way to a 0.2% gain.

A tame reading on the Fed-watched personal consumption expenditures (PCE) index and hopes for a U.S.-China trade deal have markets cautiously higher this afternoon. However, lackluster data on U.S. manufacturing and consumer sentiment are keeping stocks' gains in check. The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are in the black at midday, while the Nasdaq Composite (IXIC) is on pace for an impressive 10th straight weekly win.  

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

• Retailer at the top of the NYSE on spin-off news.
• The software stock with cheap options after earnings.
• Plus, the pharma giant seeing unusual options volume; AMC's post-earnings bull gap; and a drug study sinks ImmunoGen shares.

Pharmaceutical giant Bristol-Myers Squibb Co (NYSE:BMY) is sporting unusual options volume today, after a round of high-profile opposition of the company's plan to acquire acquire Celgene (CELG) for $74 billion. Specifically, 114,000 calls and 74,000 puts have crossed the tape so far, seven times the average intraday volume. Most popular has been the March 57.50 call and put, where symmetrical blocks of 70,000 contracts traded, possibly as part of a long straddle position. On the charts, BMY has managed to climb 18.5% from its Jan. 3 five-year low, to its current perch of $52.50.

AMC Entertainment Holdings Inc (NYSE:AMC) is near the top of the New York Stock Exchange (NYSE) today, after the company reported impressive fourth-quarter earnings. Shares of the movie theater chain have been moving sideways on the charts since the start of this year, but today have gapped 13.2% higher to trade at $15.88, and are set to close above the 80-day moving average for the first time since Nov. 12.

At the bottom of the Nasdaq today is ImmunoGen, Inc. (NASDAQ:IMGN), after the company's late-stage experimental ovarian cancer drug failed its study. The shares have gapped 48% lower to trade at $2.44 -- territory not seen since early 2017. The negative trial results have pushed IMGN into a steep 77% year-over-year deficit.