Like yesterday, Dow Jones Industrial Average (DJIA) futures are tracking global markets. This time, however, it's to the upside, with the blue-chip barometer prepared for a triple-digit leap after stocks in China notched a significant turnaround. And, as always, traders are watching Greece. The country is expected to submit a plan for financial reforms to European leaders by the end of the day.

Aside from today's report on jobless claims, the economic docket the next two days is dominated by speeches from Federal Reserve leaders -- including Fed Chair Janet Yellen, who will speak in Cleveland tomorrow. Meanwhile, earnings bellwether Alcoa Inc (NYSE:AA) has been bouncing between positive and negative territory in electronic trading following its mixed second-quarter results, with the aluminum giant falling short on profits, but topping revenue estimates.

 

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

 

• 3 China-focused exchange-traded funds (ETF) you should be following. 
• While cybersecurity stocks got a lift from all of Wednesday's glitches, these 2 sectors have been heading in different directions. 

• Why traders should watch Alcoa's post-earnings direction for clues about the market's next moves.

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are 168.6 points above fair value. 

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 647,140 call contracts traded on Wednesday, compared to 560,924 put contracts. The resultant single-session equity put/call ratio jumped to 0.87 -- its second-highest mark of 2015 -- while the 21-day moving average moved up to 0.67.

 Currencies and Commodities

• The U.S. dollar index has edged higher, adding 0.1% to 96.38.
• Crude oil is up 3% at $53.18 per barrel. 
• Gold is off 0.1% at $1,161.90 per ounce. 

 

 

Earnings and Economic Data

 

Weekly jobless claims will be released today, as usual. Otherwise, Fed officials dominate the day's schedule, with speeches due out from Minneapolis Fed President Narayana Kocherlakota, Kansas City Fed President Esther George, and Fed Governor Lael Brainard.

Additionally, a handful of notable names are expected to report earnings -- including PepsiCo (PEP), Walgreens Boots Alliance (WBA), PriceSmart (PSMT), and Barracuda Networks (CUDA). To see what else is on this week's agenda, click here.

 

Overseas Trading

For a breakdown of today's trading in Asia and Europe, including how Chinese stocks were able to turn things around, read Overseas Trading: Shanghai Composite Rallies as Regulators Crack Down on Selling. 

 

 

Unusual Put and Call Activity

 

 

 

 

The Dow Jones Industrial Average (DJIA) is sporting a triple-digit advance -- and was up by nearly 250 points at its intraday peak -- as China's massive rebound has helped ease anxiety across Wall Street. Also, the S&P 500 Index (SPX) has managed to claw its way back into positive year-to-date territory.

As traders await the latest news on Greece, they're digesting a number of encouraging earnings reports, a larger-than-expected uptick in jobless claims, an oil rebound, and remarks from a pair of Fed officials -- including Minneapolis Fed President Narayana Kocherlakota, who said monetary policy is "insufficiently accommodative" to meet the central bank's inflation and employment goals. Finally, the International Monetary Fund (IMF) trimmed its global growth projection to 3.3% from 3.5%.

 

Continue reading for more on today's market -- and don't miss:

 

• This rare SPX signal struck again, which could be good news for bulls.
• Goldman Sachs lowered its opinion on these 2 restaurant stocks, but upped its assessment of this sector peer.
• Plus ... Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and other noteworthy stats at midday.

 

 

Among the stocks with notable put volume is tech firm F5 Networks, Inc. (NASDAQ:FFIV), where the contracts are crossing at 14 times the usual intraday rate. Most active are the weekly 7/24 115 and 119 strikes, which are seeing buy-to-open action, as traders gamble on losses by expiration at the close on Friday, July 24 -- just two days after the company reports earnings. At last check, FFIV was 0.1% lower at $117.73.

 

One of the top gainers on the Big Board is 500.com, Ltd (NYSE:WBAI), as a number of U.S.-listed Chinese stocks bounce back amid government intervention. Shares of the sports lottery provider have surged 18.5% to $20.16, bringing them back into positive year-to-date territory.

 

​

One of the biggest losers on the Big Board is beauty products marketer Coty Inc (NYSE:COTY), down 5.8% at $29.68. The drop follows on the company's $12.5 billion purchase of Procter & Gamble's (NYSE:PG) Clairol and Wella brands, confirming earlier speculation.

 

The CBOE Volatility Index (VIX) is off 1.4 points, or 7.1%, at 18.26.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.67, with puts outstripping calls. At last check, SPY was up 1.9 points, or 0.9%, at $206.42.

Buyers flocked back into the market today, with the Dow Jones Industrial Average (DJIA) jumping almost 250 points at the open. While the bullish momentum cooled as the session progressed, the blue-chip barometer and its peers still notched modest gains. Helping stoke the risk-on attitude was a rebound in China's equities market, as well as optimism Greece will reach an eleventh-hour deal. Meanwhile, Alcoa Inc (NYSE:AA) kicked off second-quarter earnings season on a positive note -- creating a potentially bullish signal for the broad market. Looking ahead, analysts will continue to keep an eye on overseas developments tomorrow, but a midday speech from a major Fed official is also likely to garner some attention.

 

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

 

• Are we in the eye of a fear storm? Schaeffer's contributor Adam Warner investigates.
• Rumors of a big-name partnership for BlackBerry Ltd (NASDAQ:BBRY) could have bears hitting the bricks.
• How recent technical developments could suggest these 3 stocks are heading higher.
• Plus ... Evans re-evaluates his rate-hike outlook, the latest website outage, and a $12.5 billion payday for one blue chip.

 

The Dow Jones Industrial Average (DJIA - 17,548.62) jumped to a 249-point lead out of the gate, but spent the rest of the session paring these gains. By the close, the blue-chip barometer was up 33.2 points, or 0.2%. Twenty-one of the Dow's 30 components gained ground, led by Travelers Companies Inc's (NYSE:TRV) 1.3% pop. Apple Inc. (NASDAQ:AAPL) paced the nine decliners with its 2% drop.

 

The S&P 500 Index (SPX - 2,051.31) also took a 28-point bounce at the open, before closing 4.6 points, or 0.2%, higher. The Nasdaq Composite (COMP - 4,922.40) performed the best of its peers, adding 12.6 points, or 0.3%, after earlier enjoying a 72-point lead.

 

After spending most of the session in the red, the CBOE Volatility Index (VIX - 19.97) topped the round-number 20 mark for the first time since Feb. 2 in late-day action, eventually settling with a 0.3 point, or 1.6%, advance.

 

   

5 Items on Our Radar Today:

 

1. Chicago Fed President Charles Evans -- a noted dove -- said he thinks the central bank should delay raising interest rates until mid-2016, versus his previous outlook for early next year. Given the current risks from global markets, Evans said "A little more time doesn't hurt." (Reuters)
2. Following yesterday's shutdowns at the New York Stock Exchange (NYSE), United Continental Holdings Inc (NYSE:UAL), and The Wall Street Journal, the U.S. Department of Agriculture's website was down earlier. The source of the outage has yet to be released. (MarketWatch)
3. Procter & Gamble Co (NYSE:PG) will sell the majority of its beauty products business to Coty Inc (NYSE:COTY) for $12.5 billion -- a historic feat for the consumer products giant.
4. Put volume has accelerated on AAPL and Twitter Inc (NYSE:TWTR) in recent weeks, with speculators gambling on near-term downside.
5. For the second time in as many weeks, this rare signal popped on the S&P 500 Index (SPX).

 

 

Commodities:

 

Crude oil snapped its five-day losing streak, thanks to a rebound in Chinese markets and a lack of resolution in Iran's nuclear arms negotiations. By the close, August-dated crude was up $1.13, or 2.2%, at $52.78 per barrel.

 

Gold futures closed lower today, as the dollar strengthened and the equities markets rose. At session's end, gold for August delivery was down $4.30, or 0.4%, at $1,159.20 per ounce.

New optimism out of China and Greece has futures on the Dow Jones Industrial Average (DJIA) soaring higher once again. For starters, Chinese equities saw notable gains for the second straight day. Even more promising are the developments from Europe, where Greece last night submitted its new financial proposal to its creditors. European leaders are expected to make a decision on the proposal by Sunday at the latest. Back home, with the DJIA poised for a third straight weekly loss, the economic docket features wholesale inventories, as well as speech from Fed Chair Janet Yellen. 

 

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

 

• China's rebound -- and M&A news -- shot these 4 stocks through the roof. 
• How option traders are playing Apple Inc. (NASDAQ:AAPL) amid a five-day losing streak. 
• When it comes to promotions, who's the big wireless loser? 

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are 171.4 points above fair value. 

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 806,406 call contracts traded on Thursday, compared to 556,342 put contracts. The resultant single-session equity put/call ratio fell to 0.69, while the 21-day moving average edged up to 0.68.

Currencies and Commodities

• The U.S. dollar index is off 1% at 95.64.
• Crude oil has gained 0.5% to hit $53.48 per barrel.
• Gold is up 0.2% at $1,162 per ounce. 

 

 

Earnings and Economic Data

 

Wholesale inventories are the sole economic report due out today, but the week's roster of Fed speeches ends with a bang. In addition to planned remarks from Boston Fed President Eric Rosengren, Fed Chair Janet Yellen is scheduled to take the mic in Cleveland. There are no major earnings reports on the docket. To see what's on next week's economic docket, click here. 

 

Overseas Trading

For a breakdown of today's trading in Asia and Europe, including how China staged its biggest two-day rally since 2008, read Overseas Trading: Greece Meets Its Deadline, While China Surges Again. 

 

 

Unusual Put and Call Activity

 

 

The Dow Jones Industrial Average (DJIA) is ripping higher at midday -- and has closed its week-to-date deficit -- as Chinese stocks staged another impressive rally. Further adding to the bullish bias is optimism over Greece's recently submitted debt proposal, which Eurogroup President Jeroen Dijsselbloem described as "thorough." The Greek parliament is expected to vote on the deal today, ahead of Sunday's deadline with creditors. Finally, on the domestic front, wholesale inventories rose at their briskest clip in six months, oil and the dollar are lower, and traders are awaiting a speech from Fed Chair Janet Yellen.

 

Continue reading for more on today's market -- and don't miss:

 

• This cloud security concern has taken a nasty spill on earnings, while a management shake-up has one prominent Internet stock flirting with lows.
• 3 stocks riding the Greek optimism, and 2 mid-caps attracting attention in the options pits.
• Plus ... Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and other noteworthy stats at midday.

 

 

 

Among the stocks with notable call volume is software firm Autodesk, Inc. (NASDAQ:ADSK), where the contracts are running at 17 times the normal intraday rate. According to Trade-Alert, traders are buying to open the stock's out-of-the-money July 52.50 and 55 calls. At last check, ADSK has tacked on 0.1% at $52.51.

 

One of the top advancers on the Big Board is Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE), which up 11% at $1.01 -- but still down 57% year-to-date. The shares are busting out amid a rally in China stocks, as well as news that YGE will supply a total of 240 megawatts of solar panels to a pair of Chilean power plants.

 

​

One of the top losers on the Big Board is Arch Coal Inc (NYSE:ACI), which has plunged 15% to trade at $0.27 -- an all-time low. In fact, a number of coal producers are taking it on the chin, as Roman Catholic shareholders are dumping conventional energy stocks amid Pope Francis' call for an end to fossil fuel use.

 

The CBOE Volatility Index (VIX) is off 3.07 points, or 15.4%, at 16.90.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.49, with puts outweighing calls. At last check, SPY has added 2.7 points, or 1.3%, to trade at $207.58.

A volatile week of trading ended with a bang, with the Dow Jones Industrial Average (DJIA) notching a triple-digit win. The bullish stars seemingly aligned on Wall Street, with traders digesting another big rally in China, a last-minute bailout proposal from Greece, and a midday speech from Fed Chair Janet Yellen. The Dow's counterparts also enjoyed impressive gains, with the S&P 500 Index (SPX) moving back above its year-to-date breakeven mark and the Nasdaq Composite (COMP) coming oh-so-close to settling north of 5,000. Next week could see more big market moves, with second-quarter earnings season kicking into high gear, July options expiration underway, and Yellen back at it on Capitol Hill.

 

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

• Did the "fear gauge" just flash a bullish signal?
• If past is precedent, both Kroger Co (NYSE:KR) and Netflix, Inc. (NASDAQ:NFLX) could be set for some post-split upside.
• How these 2 names have capitalized on a week's worth of computer glitches.
• Plus ... Yellen maintains her position, Greece makes concessions, and Facebook Inc's (NASDAQ:FB) newest venture.

The Dow Jones Industrial Average (DJIA - 17,760.41) was up nearly 250 points at its intraday peak, before closing with a 211.8-point, or 1.2%, gain. All 30 of the DJIA's components gained ground, led by Apple Inc.'s (NASDAQ:AAPL) 2.7% pop. Week-over-week, the Dow added 0.2%.

The S&P 500 Index (SPX - 2,076.62) settled up 25.3 points, or 1.2% -- and moved back above its 10-month moving average. The Nasdaq Composite (COMP - 4,997.70), meanwhile, danced above 5,000 in intraday action, eventually closing 75.3 points, or 1.5%, higher. For the week, the SPX finished fractionally lower, while the COMP gave back 0.2%.

 

The CBOE Volatility Index (VIX - 16.83) fell 3.1 points, or 15.7%, and pared its weekly advance to 0.2%.

 

   

5 Items on Our Radar Today:

1. Federal Reserve Chair Janet Yellen said the central bank should begin raising interest rates at a gradual pace later this year. However, she made sure to emphasize "that the course of the economy and inflation remains highly uncertain, and unanticipated developments could delay or accelerate this first step." (Bloomberg)
2. Greece submitted a new bailout deal to its creditors Thursday evening, which includes proposals on pension reforms and tax hikes. Eurozone leaders are expected to vote on the deal by Sunday. (The Washington Post)
3. FB is reportedly looking to expand its presence in the video market. The news sent the stock barreling higher, most likely to the delight of short-term option traders.
4. Optimism over a possible debt deal for Greece had a positive impact on this 3 shipping stocks.
5. Eleventh-hour option bears set their sights on this struggling drugmaker.

 

 

Commodities:

 

Crude oil lost ground today, after data showed a modest rise in weekly rig counts. At the close, August-dated crude was down 4 cents at $52.74 per barrel. For the week, crude lost 7.4%.

 

Gold futures erased early gains after Fed Chair Janet Yellen reiterated the central bank's intention to raise interest rates later this year. By session's end, gold for August delivery was off $1.30, or 0.1%, at $1,157.90 per ounce. Week-over-week, the malleable metal gave back 0.5% -- its third straight weekly drop.

The Dow Jones Industrial Average (DJIA) is ready to pick up right where it left off, with futures on the blue-chip barometer eyeing a triple-digit lead. Spurring the risk-on attitude is upbeat news from overseas, where Greece and eurozone leaders hashed out a three-year bailout agreement. While the details of the deal still need to be finalized, it appears a "Grexit" will be avoided. Back on the homefront, today's earnings and economic calendars are relatively bare -- with the Treasury budget the sole data point on the docket -- however, the financial sector should garner some attention later this week, with earnings from a number of big names due.

 

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

 

• Netflix, Inc. (NASDAQ:NFLX) continued its hot streak -- but should shareholders be concerned about its upcoming split? 
• Why analysts are nervous ahead of this biotech's big event.
• Need a recap of Friday's action? We gathered all of the day's big movers, including 3 names that took off on the news from Greece. 

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are nearly 108 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 768,790 call contracts traded on Friday, compared to 516,646 put contracts. The resultant single-session equity put/call ratio dropped to 0.67, while the 21-day moving average remained at 0.68.

​

Currencies and Commodities

• The U.S. dollar index is up 0.4% at 96.41.
• Crude oil is down 1% at $52.67 per barrel.
• Gold is 0.2% lower at $1,155.40 per ounce.

Earnings and Economic Data

 

Today's news slate is light, with the Treasury budget the only report of note. There are no notable earnings reports today, but Kroger Co. (KR) shares will split after the bell. To see what else is on this week's agenda, click here. 

 

Overseas Trading

 

For a breakdown of today's trading in Asia and Europe, read Overseas Trading: Greece Lifeline Lifts Global Markets.
​

Unusual Put and Call Activity

 

 

The Dow Jones Industrial Average (DJIA) continues to push higher on the promising news out of Europe, where Greece agreed to bailout terms with its creditors. In fact, all 30 Dow components are in the black. There's little in the way of economic data today, meaning traders can focus their attention on overseas developments and corporate earnings season, which picks up in a big way this week. Meanwhile, the Nasdaq Composite (COMP) and S&P 500 Index (SPX) have each enjoyed notable gains, while gold and crude have both moved lower.  

 

Continue reading for more on today's market -- and don't miss:

 

• With the shares notching post-IPO highs, Wall Street was all over Fitbit Inc (NYSE:FIT) this morning. 
• The oil giant and biotech stock blowing it out of the water today. 
• Plus ... Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and other noteworthy stats at midday.

 

 

 

Among the stocks with notable call volume is semiconductor concern Marvell Technology Group Ltd. (NASDAQ:MRVL), as some are pegging the company as a takeover target. Calls are crossing at 10 times the expected rate, as it appears traders are buying to open the weekly 7/24 13.50-strike call. This means speculators are expecting the shares to trade atop $13.50 before the options expire at the close on Friday, July 24. MRVL was last see 3.1% higher at $12.90. 

 

One of the top gainers on the Nasdaq is  Voltari Corp (NASDAQ:VLTC), which has added 22.9% to trade at $5.86. It's been a wild year for the shares of the digital advertising firm. They shot up to a three-year high of $21.75 in late April, but have moved 73% lower since. Regardless, VLTC has increased over seven-fold in 2015. 

One of the top losers on the NYSE is Ann Inc (NYSE:ANN). The shares of the women's apparel company are off 3.4% at $46.65 today. ANN maintains a nearly 28% year-to-date lead, but the fresh batch of bearish traders have to be encouraged by today's decline. Specifically, short interest on the equity rose by 25.2% during the two most recent reporting periods. 

 

The CBOE Volatility Index (VIX) is off 15% at 14.30, and is trading below its 20-day moving average for the first time since June 26. 

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.85, as puts outnumber calls. The SPY was last seen up 0.9% at $209.44. 

The Dow Jones Industrial Average (DJIA) exploded on news that a "Grexit" might be averted, surging by more than 200 points for a second straight session, and jumping back into positive year-to-date territory. Specifically, European Council President Donald Tusk said eurozone leaders "unanimously reached [an] agreement," which "gives Greece the chance to get back on track with the support of European partners." On the homefront, the Treasury budget finished with a surplus of $51.8 billion in June, as expected, while a handful of companies flexed some muscle on Merger Monday.

 

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

 

• It was a huge day for Greek shipping stocks and Chinese Internet names, amid the latest overseas developments.
• 3 big-name stocks that broke out to record highs.
• How Wall Street is playing this trio of big-cap banks ahead of earnings.
• Plus ... Debt deal goes to Greek parliament, the newest presidential candidate, and a big bet on eBay Inc (NASDAQ:EBAY).

 

The Dow Jones Industrial Average (DJIA - 17,977.68) extended last week's momentum, advancing 217.3 points, or 1.2%. The Dow is now 0.9% higher for 2015, and boasts a July gain of more than 2%. Merck & Co., Inc. (NYSE:MRK) was the lone blue chip to sit out the rally, dipping 0.1%, while DuPont (NYSE:DD) led the 29 advancers with a 2.2% gain.

 

The S&P 500 Index (SPX - 2,099.60) surged 23 points, or 1.1%, but stopped just shy of the 2,100 level. The Nasdaq Composite (COMP - 5,071.51) fared the best of its peers, skyrocketing 73.8 points, or 1.5%, to reclaim a spot north of 5,000.

 

The CBOE Volatility Index (VIX - 13.90) plunged 2.9 points, or 17.4%, amid a risk-on attitude in the equities market. The "fear gauge" is now sitting south of its 20-day moving average for the first time since June 24.

 

 

 

 

5 Items on Our Radar Today:

 

1. While Greece was able to reach a bailout agreement with its creditors, fears are emerging that Prime Minister Alexis Tsipras may not be able to get the pact through parliament by Wednesday's deadline. Independent Greeks leader Panos Kammenos already stated that he "cannot agree" to the deal due to its austerity measures, which Tsipras promised to end. (Reuters)
2. Wisconsin Gov. Scott Walker announced his candidacy for the Republican presidential nomination, joining a crowded field that includes former Florida Gov. Jeb Bush, Sen. Rand Paul of Kentucky, and others. "I'm in. I'm running for President of the United States because Americans deserve a leader who will fight and win for them," Walker said on Facebook. (ABC News)
3. One trader's gambling on higher highs for EBAY ahead of this week's earnings, as well as a highly anticipated spin-off.
4. A number of drugmakers soared today, most notably Anacor Pharmaceuticals Inc (NASDAQ:ANAC).
5. It was a volatile day for these 2 energy stocks, as Iran's deadline for a nuclear deal loomed.

 

Commodities:

 

Crude futures settled a volatile session lower, as Iranian Foreign Minister Mohammed Javad Zarif signaled that a missed deadline to lift Western sanctions on crude exports will not end negotiations. In addition, a rising dollar and rising production from the Organization of Petroleum Exporting Countries (OPEC) contributed to black gold's dip. At the close, August-dated crude was off 54 cents, or 1%, at $52.20 per barrel.

 

Gold futures slipped as the dollar picked up steam, and as the Greek bailout agreement dimmed the metal's safe-haven appeal. By day's end, gold for August delivery was off $2.50, or 0.2%, to land at $1,155.40 per ounce.

Following two consecutive 200-point swings higher, futures on the Dow Jones Industrial Average (DJIA) are signaling a slow start. However, there are plenty of market-moving events that Wall Street will be digesting today, including earnings from blue chips JPMorgan Chase & Co. (NYSE:JPM) and Johnson & Johnson (NYSE:JNJ), retail sales, and import and export prices.

Additionally, the energy sector should remain in focus today, after Iran and several world powers reached a historic nuclear deal. The agreement will apply restrictions to Iran's nuclear arms program, and in return, several sanctions will be lifted on the country -- including its ability to increase oil exports.

 

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

 

• Schaeffer's Senior VP of Research Todd Salamone explains why bulls still have the upper hand.
• Second-quarter earnings season is underway, and Bank of America Corp (NYSE:BAC) and eBay Inc (NASDAQ:EBAY) are just two names to keep a close eye on.
• A quick primer on 3 ways to play puts.

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are nearly 1 point below fair value.
 

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 816,857 call contracts traded on Monday, compared to 452,479 put contracts. The resultant single-session equity put/call ratio plunged to 0.55, while the 21-day moving average stayed at 0.68.

Currencies and Commodities
​

• The U.S. dollar index is down 0.3% at 96.58.
• Crude oil is off 0.1% at $52.67 per barrel.
• Gold is 0.1% lower at $1,153.80 per ounce.

 

Earnings and Economic Data

 

Retail sales for the month of June were released ahead of the bell, along with import and export prices. This data will be followed by the May business inventories report.

As for companies in the news, JNJ will be joined by fellow Dow member JPM in the earnings spotlight. Other notable names reporting earnings are Wells Fargo & Co. (WFC) and YUM! Brands, Inc. (YUM). Watch for a post-close stock split from Netflix, Inc. (NFLX), while Applied Materials, Inc. (AMAT) will hold its analyst day. To see what else is on this week's agenda, click here.

 

Overseas Trading

 

For a breakdown of today's trading in Asia and Europe, including what's pressuring global markets, read Overseas Trading: Another Volatile Day in China; Iran Seals Nuclear Deal

 

Unusual Put and Call Activity

 

After a sluggish start, the Dow Jones Industrial Average (DJIA) has managed to extend its lead around midday, and is on pace for a fourth straight win. Traders are shuffling through the latest earnings numbers from a few financial heavyweights, while considering surprise drops in both June retail sales and import prices, and an in-line rise in May business inventories. Meanwhile, crude remains in focus -- and was last seen hovering around breakeven after an early drop -- following last night's nuclear deal with Iran. 

 

Continue reading for more on today's market -- and don't miss:

 

• Why GoPro Inc (NASDAQ:GPRO) is soaring and Amazon.com, Inc. (NASDAQ:AMZN) is hitting record highs.
• As bets on volatility near record levels, Schaeffer's contributor Adam Warner breaks down the current CBOE Volatility Index (VIX) backdrop. 
• Plus ... Checking in on the VIX, the SPDR S&P 500 ETF Trust (SPY), and other noteworthy stats at midday.

 

 

 

Among the stocks with notable call volume is motorcycle giant Harley-Davidson Inc (NYSE:HOG), with the contracts changing hands at 15 times the expected intraday pace. The most popular contract is the July 57.50 call, with all signs pointing to buy-to-open activity. Simply put, traders are betting on extended gains from HOG above $57.50 before the options expire at the close this Friday. The shares were last seen 1.8% higher at $57.57. 

 

One of the top gainers on the Nasdaq is Micron Technology, Inc. (NASDAQ:MU), with the shares gaining 11% to trade at $19.55, on reports China-owned Tsinghua Unigroup could make a $23 billion offer for the company. 

 

One of the top losers on the Big Board is National Bank of Greece (NYSE:NBG). Shares of the Greek financial institution are keeping their volatile streak alive ahead of tomorrow's key parliament vote, dropping 6.6% today to trade at $1.13. NBG has now trailed the broader S&P 500 Index (SPX) by over 13 percentage points during the past two months, due in part to repeated overhead resistance from its 120-day moving average. 

 

 

The CBOE Volatility Index (VIX) is off 5.5% at 13.13. 

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.67, with puts easily doubling calls. The SPY was last seen 0.4% higher at $210.53. 

The Dow Jones Industrial Average (DJIA) flirted with a third straight triple-digit gain -- securing its fourth consecutive daily win in the process -- and muscled atop the 18,000 millennium level, buoyed by expectations Greece's parliament will agree to the terms set forth in the bailout agreement. Rising energy prices on the heels of Iran's nuclear pact with the West, and an earnings win from this blue-chip bank, were also a boon to the bellwether, which managed to shake off a round of mixed domestic data. Meanwhile, the S&P 500 Index (SPX) closed atop 2,100 for the first time since late June. Looking ahead, Wall Street will watch the developments in Europe, as well as Fed Chair Janet Yellen's two-day stint on Capitol Hill.

 

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

 

• 3 outperforming stocks that could burn short sellers.
• The big rumor that sent Twitter Inc (NYSE:TWTR) to the moon.
• While optimism runs high on Tesla Motors Inc (NASDAQ:TSLA), short-term traders are anticipating downside for this drugmaker.
• Plus ... Domestic data mostly disappoints, Iranian nuclear deal comes under fire, and big news from Google Inc (NASDAQ:GOOGL).

The Dow Jones Industrial Average (DJIA - 18,053.58) was up by close to 100 points at its intraday peak, and finished on a 75.9-point, or 0.4%, win -- its fourth straight. Twenty-one of the Dow's 30 components closed higher, paced by a 2.1% gain at UnitedHealth Group Inc. (NYSE:UNH). Johnson & Johnson (NYSE:JNJ) and International Business Machines Corp. (NYSE:IBM) each swallowed a 0.5% loss to pace the nine blue-chip decliners.

The S&P 500 Index (SPX - 2,108.95) tacked on 9.4 points, or 0.5%, to topple 2,100 for the first time since June 26. Similarly, the Nasdaq Composite (COMP - 5,104.89) added 33.4 points, or 0.7%, to take out 5,100 for the first time on a closing basis since June 25.
 
The CBOE Volatility Index (VIX - 13.37) got smacked again, shedding 0.5 point, or 3.8%, for its lowest close since June 24.

 

 

 

 

5 Items on Our Radar Today:

 

1. U.S. retail sales unexpectedly slipped 0.3% in June -- their first monthly decline in four. Additionally, sales for April and May were downwardly revised. Meanwhile, import prices edged 0.1% lower last month -- bringing their year-over-year drop to 10% -- and business inventories grew slightly less than expected. (MarketWatch)
2. Iran has reached a nuclear deal with the West, which lifted sanctions on the Middle Eastern nation in exchange for limits on its atomic program. U.S. President Barack Obama expressed optimism that the deal will prevent Iran from obtaining a nuclear weapon through a process of "verification." However, the deal is already generating criticism, with Israeli Prime Minister Benjamin Netanyahu calling the pact "a historic mistake for the world." (CNN)
3. The catalysts behind GOOGL's strong session.
4. These two mega-retailers are preparing to duke it out tomorrow.
5. This solar stock continues to bounce back from recent losses, helped by bullish analyst attention.

 

 

 

 

Commodities:

 

Crude oil reversed higher after earlier losses, as the West's nuclear agreement with Iran will continue to place limits on crude exports. Also boosting liquid gold was the dollar, which weakened on retail sales. At the close, crude for August delivery was up 84 cents, or 1.6%, to settle at $53.04 per barrel.

 

Gold futures finished lower for a fourth straight session, ahead of Yellen's two-day testimony, which kicks off tomorrow -- and could offer signals about when the central bank will raise interest rates. August-dated gold lost $1.90, or 0.2%, to end at $1,153.50 per ounce.