The Dow Jones Industrial Average (DJIA) is poised to soar out of the gate, amid reports that Greek Prime Minister Alexis Tsipras may be considering an eleventh-hour reform-for-aid proposal from European Commission President Jean-Claude Juncker. If an agreement is not reached by today's deadline, however, Athens will default on its debt repayment to the International Monetary Fund (IMF) -- and possibly head toward an exit from the eurozone. On the home front, traders are looking forward to a number of economic reports, including the latest S&P/Case-Shiller home price index and consumer confidence data.

 

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

 

• Schaeffer's Senior VP of Research Todd Salamone explains why traders need to keep an eye trained on this S&P 500 Index (SPX) trendline.
• Chinese stocks didn't fare much better than their Greek counterparts, selling off on Shanghai's liquidity crunch.
• These 4 volatility vehicles experienced some major movement, as global markets started off the week on rocky footing.

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are nearly 131 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 710,695 call contracts traded on Monday, compared to 665,510 put contracts. The resultant single-session equity put/call ratio jumped to 0.94 -- its highest perch since Aug. 1, 2014 -- while the 21-day moving average inched up to 0.62.

Currencies and Commodities

• The U.S. dollar index has added 0.5% at 95.25.
• Crude oil is up 0.7% to trade at $58.71 per barrel.
• Gold is off 0.6% at $1,172.20 per ounce.

 

 

Earnings and Economic Data

 

Today is Greece's deadline to repay the IMF's $1.7 billion loan, or else face a likely default and possible exit from the eurozone. On the home front, St. Louis Fed President James Bullard will speak, and the Street will digest the S&P/Case-Shiller home price index for April, the Chicago purchasing managers index (PMI), and June's consumer confidence data. Before the bell, ConAgra Foods Inc (CAG) and Schnitzer Steel Industries (SCHN) will step into the earnings confessional. To see what else is on this week's docket, click here.

 

Overseas Trading

 

For a breakdown of today's trading in Asia and Europe, including a rebound in Chinese equities, read Overseas Trading: Shanghai Composite Bounces; All Eyes on Greece.

 

Unusual Put and Call Activity

 

 

The Dow Jones Industrial Average (DJIA) is staring at a triple-digit deficit at midday, after Greece's financial crisis took a turn for the worse over the weekend -- and a now-scheduled July 5 referendum stokes fear of a possible "Grexit." Adding to the risk-off backdrop is a continued sell-off in China despite a fresh round of stimulus measures by the central bank, as well as a projected default in Puerto Rico. Specifically, Alejandro Garcia Padilla -- the commonwealth's governor -- said its $72 billion in debt is "not payable." At last check, all but one Dow component was in the red -- with JPMorgan Chase & Co.'s (NYSE:JPM) analyst-induced drop helping to lead the path lower. The blue-chip index is now in the red on a year-to-date basis.

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

 

• What makes Greece like a biotech? Schaeffer's contributor Adam Warner explains.
• This Greek exchange-traded fund (ETF) is on track for its worst day ever, while this U.S.-listed Greece bank has plunged to its lowest mark on record.
• 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 MBIA Inc. (NYSE:MBI), with the contracts crossing the tape at 15 times the average intraday pace. The bond insurer is down 16.6% at $6.94 -- and fresh off a two-year low of $6.84 -- on worries of a possible Puerto Rico debt default, as well as a downgrade to "neutral" from "buy" at BTIG. Meanwhile, the security has been relegated to the short-sale restricted list, and earlier, its 52-week at-the-money implied volatility topped out at an annual high. Option traders hoping for even more downside appear to be purchasing new positions at the July 7 put.

 

Vitae Pharmaceuticals Inc (NASDAQ:VTAE) is one of the leading laggards on the Nasdaq, after the drugmaker said its type 2 diabetes treatment -- VTP-34072 -- failed as an add-on to a more common form of diabetes therapy. However, despite today's bear gap, which has VTAE down 25.5% on the year at $12.40, the stock managed to find a firm foothold atop the round-number $10 mark.

MBI's fellow bond insurer Assured Guaranty Ltd. (NYSE:AGO) is one of the top losers on on the Big Board, down 12.3% at $24.03 -- and on pace to close south of its 80-day moving average for the first time since May 7. BTIG also weighed in on AGO, lowering its outlook to "neutral" from "buy." Heading into today's session, the stock was enjoying a more than 5% year-to-date lead.

 

 

The CBOE Volatility Index (VIX) is up 3.3 points, or 23.3%, at 17.29 -- and lingering near its highest level since mid-February.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.49, with puts more than doubling calls. At last check, SPY is off 2.3 points, or 1.1%, at $207.53.

Things got ugly today on Wall Street, as the Dow Jones Industrial Average (DJIA) suffered its largest point drop since June 2013. Traders reacted to the latest from Greece, which reportedly will not pay back the roughly 1.6 billion euros owed to the International Monetary Fund (IMF) by Tuesday -- significantly raising the stakes for a potential default. The scene was equally dismal across the globe, as Puerto Rico warned it's also at risk of default, and China officially entered bear-market territory. Following suit with stocks, crude oil also sold off, as anxious investors rushed to ditch risky assets. 

 

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

 

• A look at 3 U.S.-traded Greek stocks that got hammered today. 
• Greek debt crisis? What Greek debt crisis? These 4 stocks dodged the market sell-off. 
• China's steep sell-off made for an interesting trading day for this alternative energy stock. 
• Plus ... SCOTUS goes against Obama, banking stocks get smacked, and how is Greece like a biotech?

 

The Dow Jones Industrial Average (DJIA - 17,596.35) steepened its losses throughout the day to close at its lowest point since Feb. 2, giving back nearly 2%, or 350.3 points. Not a single Dow component finished in the black. The biggest losers were DuPont (NYSE:DD) and Visa Inc (NYSE:V), which each lost close to 3%. Amid today's heavy selling, the Dow closed south of its 200-day moving average for the first time since Oct. 22, 2014.

 

The S&P 500 Index (SPX - 2,057.64) dropped 43.9 points, or 2.1%, to finish at its lowest point since March 26 -- and back in negative territory for 2015. The Nasdaq Composite (COMP - 4,958.47) had the worst day of all, closing 122 points, or 2.4%, lower.  In the process, the COMP ended below 5,000 for the first time in over a month.

 

The CBOE Volatility Index (VIX - 18.85) gapped higher today, and landed its highest close since Feb. 2, adding 4.8 points, or 34.5%. 

 

 

 

 

5 Items on Our Radar Today:

 

1. Greek Prime Minister Alexis Tsipras is urging citizens to vote "no" at Sunday's referendum on the proposed bailout, saying it would give the country the upper hand in negotiations. Tsipras expressed confidence Greece would not be removed from the eurozone, with the outspoken politician saying the cost of such a move would be "immense." (BBC News) 
2. In its latest round of decision making, the Supreme Court ruled against President Obama's proposed regulation to limit mercury and other toxic emissions from coal-powered plants. In its ruling, the court said the government didn't fully consider the costs of the measure. (The New York Times) 
3. Schaeffer's contributor Adam Warner explained how Greece behaves like a biotech. 
4. Amid worldwide weakness in financial stocks, Oppenheimer slapped these two banking names with bearish notes.
5. As Athens implemented capital controls at banks, one Greek ETF suffered its worst day ever. 

 

 

 

Commodities:

 

Amid the uncertainty surrounding Greece's debt situation, oil fell to its lowest close in three weeks. Crude for August delivery tumbled $1.30, or 2.2%, to end at $58.33 per barrel. 

 

Gold futures, conversely, got a lift from the Greek drama, as traders sought "safer" investments. August-dated gold rose $5.80, or 0.5%, to $1,179.00 per ounce. 

The Dow Jones Industrial Average (DJIA) gave up some of its early gains as the day went on, but was still able to close solidly in positive territory. Thanks to comments made by Greek Prime Minister Alexis Tsipras, investors feel the country is closer to cutting a deal with its creditors. However, it appears Greece will still be holding its referendum on Sunday. In the U.S., traders were encouraged by a strong round of economic data, including an ADP employment report that beat expectations. Now, attention shifts to tomorrow's nonfarm payrolls report​. Outside of stocks, crude got hammered after an unexpected rise in domestic supplies. 

 

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

 

• M&A buzz was rampant on the Street today, including news on this blue chip's takeover efforts. 
• Out of nowhere, option volume took off on Wall Street newcomer Fitbit Inc (NYSE:FIT).
• A Department of Justice investigation knocked these 3 airline stocks lower.
• Plus ... Tsipras makes an announcement, Trump gets fired (again), and 3 casino stocks on the move.

 

The Dow Jones Industrial Average (DJIA - 17,757.91) had a strong day, pushing 138.4 points, or 0.8%, higher. Of the DJIA's 30 components, 25 finished higher, with Travelers Companies Inc's (NYSE:TRV) 2.7% advance leading the way. Caterpillar Inc. (NYSE:CAT) had the worst day, giving back just over 1%. 

 

The S&P 500 Index (SPX - 2,077.42) shot up 14.3 points, or 0.7%. The Nasdaq Composite (COMP - 5,013.12) added 26.3 points, or 0.5%. 

 

The CBOE Volatility Index (VIX - 16.09) took a breather today, sliding 2.1 points, or 11.7%, but still finished well above its 10- and 20-day moving averages. 

 

 

 

 

5 Items on Our Radar Today:

 

1. Greek Prime Minister Alexis Tsipras went on TV to announce the country may be willing to accept some of the terms proposed by its creditors. The move was an unexpected one, and has many thinking a deal between the debt-ridden country and its creditors is now possible. (The New York Times)
2. In the wake of comments he made about Mexican immigrants, Macy's has pulled products from Republican presidential candidate Donald Trump's brand from its stores. The retailer said it "stands for diversity." An online petition requesting the move gained over 700,000 signatures. (​​CNN​) 
3. Almost half of this slumping alternative energy stock's float is sold short -- but are option traders as bearish?  
4. The Street is obviously not a fan of this semiconductor name. 
5. These 3 casino stocks are cashing in. 

 

 

 

 

Commodities:

 

Crude oil got whacked today, after the latest inventories report showed an unexpected increase in supplies. At the close, crude for August delivery fell $2.51, or 4.2%, to land at $56.96 per barrel -- its lowest finish since late April. 

 

Gold futures took a hit amid promising U.S. economic data. August-dated gold dipped $2.50, or 0.2%, to finish at $1,169.30 per ounce. 

Dow Jones Industrial Average (DJIA) futures have extended their early gains following the release of June's nonfarm payrolls report -- which showed the U.S. added 223,000 jobs last month, falling short of consensus estimates for an increase of 230,000. What's more, job gains for April and May were downwardly revised by a total of 60,000. However, the unemployment rate cooled to 5.3%, just south of the consensus estimate of 5.4%.

Meanwhile, traders are digesting the latest comments from Greek Prime Minister Alexis Tsipras, who in a nationally televised address again called on his fellow citizens to reject the European Union's (EU) bailout proposal -- accusing lenders of "blackmail" and labeling EU leaders "extremist conservative forces." This comes just a day after Tsipras appeared ready to make concessions to creditors, ahead of Sunday's referendum.

 

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

 

• Crude's sell-off pressured one energy issue to a six-year low, while this solar stock followed its sector peers south.
• 2 names making M&A headlines, plus the biggest-ever insurance industry merger.
• In case you missed it, the significance of this rare S&P 500 Index (SPX) signal.

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are roughly 52 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 650,570 call contracts traded on Wednesday, compared to 405,178 put contracts. The resultant single-session equity put/call ratio fell to 0.62, while the 21-day moving average edged up to 0.64.

Currencies and Commodities

• The U.S. dollar index is off 0.06% at 96.26.
• Crude oil is bouncing back, up 0.4% at $57.17 per barrel.
• Gold has slid 0.7% to trade at $1,161.00 per ounce.

 

Earnings and Economic Data

 

The holiday-shortened week comes to a close with quite a bang, with weekly jobless claims and the highly anticipated nonfarm payrolls report on tap, along with May factory orders. There are no earnings reports of note. To see what's on next week's agenda, click here.

 

Overseas Trading

 

For a breakdown of today's trading in Asia and Europe, including China's extended slide, read Overseas Trading: Chinese Stocks Tumble; Tsipras Talks Tough.

 

 

Unusual Put and Call Activity

 

 

After spending most of the morning above water, the Dow Jones Industrial Average (DJIA) has turned lower at midday -- and is on pace to snap its two-day winning streak. What's more, thanks to Monday's massive sell-off, the benchmark is easily on pace to log a weekly loss.

While the latest developments in Greece continue to demand Wall Street's attention -- specifically, new threats from Prime Minister Alexis Tsipras and Finance Minister Yanis Varoufakis -- the Labor Department's relatively soft payrolls report has stolen the spotlight. Looking ahead to next week (markets will be closed tomorrow for the July 4 holiday), there will be plenty for speculators to digest, including the unofficial start of second-quarter earnings season and a handful of Fed speeches.

 

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

 

• 3 third-quarter standouts to keep an eye on.
• While it's a banner day for Tesla Motors Inc (NASDAQ:TSLA), the same can't be said for this sinking commodity name.
  
• 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 option volume is Xoom Corp (NASDAQ:XOOM), with the contracts crossing the tape at 82 times the average intraday pace. The security is up 22.7% at $25.40, after receiving a buyout bid from PayPal, and option traders appear to be initiating new long positions at XOOM's October and January 2016 25-strike calls.

 

One of the top gainers on the Big Board is insurance issue Health Net, Inc. (NYSE:HNT). The security has jumped 11.1% to $72.28 -- and is fresh off a record high of $76.67 -- after Centene Corp (NYSE:CNC) agreed to buy the company in a multi-billion-dollar deal.

 

Vitae Pharmaceuticals Inc (NASDAQ:VTAE) is one of the biggest losers on the Nasdaq, off 11.3% at $13.24. The biotech has had a tough week both on and off the charts, and since last Friday's close at $15.19, the stock has surrendered nearly 13%. Despite this negative price action, VTAE appears to have found a footing atop its 20-week moving average -- a trendline that previously served as resistance.

 

The CBOE Volatility Index (VIX) is up 0.7 point, or 4.4%, at 16.79 -- and on track for its highest weekly finish since early February.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.01, with puts doubling calls. SPY is off 0.2 point, or 0.1%, at $207.32.

The Dow Jones Industrial Average (DJIA) snapped its four-day win streak, as traders digested Fed Chair Janet Yellen's first day of testimony before Congress and the latest round of economic data. Specifically, Yellen said she expects the central bank to raise interest rates in 2015, adding that "prospects are favorable for further improvement in the U.S. labor market and the economy more broadly." Meanwhile, the June producer price index rose more than expected -- as did industrial production -- and the Fed's Beige Book showed moderate to modest economic growth in all 12 districts last month. Overseas, traders are keeping a close eye trained on Greece, where violent protests have erupted ahead of a parliamentary vote on a controversial bailout agreement.

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

 

• 4 stocks sinking amid China's resuming downtrend.
• A pair of companies headed to the earnings stage tomorrow -- and what option traders are expecting in the aftermath.
• This sector caught fire again today, following early morning M&A news.
• Plus ... Yellen gets pushback, POTUS defends Iran deal, and one Wall Street rookie's historic run.

 

The Dow Jones Industrial Average (DJIA - 18,050.17) spent time above and below breakeven, and eventually settled on a loss of 3.4 points, or 0.02%. Half of the Dow's 30 components ended higher, paced by Apple Inc.'s (NASDAQ:AAPL) 1% advance. Chevron Corporation (NYSE:CVX) led the 15 blue-chip decliners, declining 1.4%.

The S&P 500 Index (SPX - 2,107.40) retreated 1.6 points, or 0.1%, but maintained its foothold atop 2,100. The Nasdaq Composite (COMP - 5,098.94) shed about 6 points, or 0.1%, and slipped back below 5,100.

The CBOE Volatility Index (VIX - 13.23) suffered its fourth straight defeat, giving back 0.1 point, or 1.1%.

 

 

 

 

5 Items on Our Radar Today:

 

1. During her appearance before a congressional panel, Yellen was met with intense opposition from lawmakers who accused the central bank of failing to be sufficiently transparent or predictable. However, the Fed Chair disagreed with her detractors, saying she "would strongly resist agreeing to follow any rule where the stance of monetary policy depends on only the current readings of two economic variables." (Reuters, via NBC News)
2. While acknowledging that congressional debate over the Iran nuclear deal will be heated, President Barack Obama defended the agreement during a press conference. "Without a deal, the international sanctions regime will unravel, with little ability to re-impose it," Obama said. "With this deal, we have the possibility to peacefully resolve a major threat to regional and international security." (Reuters, via CNBC)
3. Bulls are piling on as Fitbit Inc (NYSE:FIT) keeps hitting highs.
4. A number of drugmakers broke out today, with Celgene Corporation (NASDAQ:CELG) setting the tone on this $7.3 billion buyout.
5. Reactions from around the Web, as Amazon.com, Inc.'s (NASDAQ:AMZN) Prime Day fell flat.

 

 

 

 

Commodities:

 

Crude tumbled, as traders digested the prospect of Iranian oil hitting the market, as well as a build at a key U.S. delivery hub. By day's end, liquid gold was down $1.63, or 3.1%, at $51.41 per barrel.

 

Gold fell for a fifth straight day -- and touched an eight-month low -- amid Yellen's prediction of a 2015 rate hike. Specifically, August-dated futures lost $6.10, or 0.5%, to settle at $1,147.40 per ounce.

 

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.

The Dow Jones Industrial Average (DJIA) closed the week on a sour note, amid a round of mixed economic reports (and their rate-hike implications). However, the Nasdaq Composite (COMP) had a huge session, surging to a record high on the back of Google Inc's (NASDAQ:GOOGL) historic day, in which the stock posted the biggest-ever single-day gain in market capitalization (roughly $65 billion). Overseas, the German parliament gave the green light on Greek bailout talks, and the European Council approved a bridging loan for Athens. Looking ahead, more highly anticipated earnings reports are in store, with Apple Inc. (NASDAQ:AAPL) headlining.

 

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

 

• How one tiny statement impacted Etsy Inc (NASDAQ:ETSY) in a big way.
• While the social media sector blew up, these 3 energy stocks flirted with lows.
• M&A rumblings sent this fertilizer stock to new heights.
• Plus ... Elon Musk goes "Ludicrous Mode," consumer sentiment wanes, and 3 companies on deck for earnings.

The Dow Jones Industrial Average (DJIA - 18,086.45) spent the day in the red, settling on a loss of 33.8 points, or 0.2%. Just seven of the Dow's 30 components ended higher, led by IBM (NYSE:IBM) and AAPL, which each added 0.9%. Meanwhile, Intel Corporation (NASDAQ:INTC) and Chevron Corporation (NYSE:CVX) paced a group of 22 blue-chip decliners -- giving back 1.4% each -- and Merck & Co., Inc. (NYSE:MRK) was flat. Week-over-week, the Dow gained 1.8%.

The S&P 500 Index (SPX - 2,126.64) mounted an eleventh-hour comeback to close on a 2.4-point, or 0.1%, win -- bringing its weekly lead to 2.4%. The Nasdaq Composite (COMP - 5,210.14) bested its peers, jumping roughly 47 points, or 0.9%, and tagging a record peak of 5,210.16. Week-over-week, the COMP surged 4.3%.

The CBOE Volatility Index (VIX - 11.95) slid 0.2 point, or 1.3%, for its lowest close since Dec. 5. On a weekly basis, the market's "fear gauge" surrendered 29%.

 

 

 

5 Items on Our Radar Today:

 

1. During a surprise end-of-week press conference, Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk revealed upgrades to the company's Model S electric sedan. Among the changes generating the most buzz is the car's new "Ludicrous Mode," which -- for a charge of $10,000 -- will equip the Model S with an engine that allows it to go from 0 to 60 miles per hour in less than three seconds. (Bloomberg Business)
2. Housing starts jumped more than expected in June, while the consumer price index rose 0.3%, in line with estimates. However, the Thomson Reuters/University of Michigan consumer sentiment index pulled back more sharply than anticipated in July. (MarketWatch)
3. Three big-name companies stepping up to the earnings plate on Monday.
4. Thursday's IPOs were major successes -- and, for the most part, that trend continued today.
5. One group that may have been burned by Baidu, Inc's (ADR) (NASDAQ:BIDU) bounce.

 

 

 

 

Commodities:

 

Crude slipped slightly today, amid data showing energy firms cut back on oil rigs for the first week in three. At the close, August-dated crude was down 2 cents to land at $50.89 per barrel. On a weekly basis, liquid gold plunged 3.5%.

 

Gold took a tumble after China released data on its gold reserves for the first time in six years, showing the nation has stashed away almost 1.7 metric tons of the malleable metal. In addition, increased expectations for a 2015 rate hike weighed on gold. By day's end, gold for August delivery dropped $12, or 1%, to settle at $1,131.90 per ounce -- its seventh consecutive daily loss, and the lowest close in over five years. Week-over-week, gold shed 2.2% -- the fourth straight week in which it's retreated.

 

 

The Dow Jones Industrial Average (DJIA) is set to start the week on a positive note, as Greek banks re-open after a three-week closure. Earnings are also in focus, with a number of major companies -- including Morgan Stanley (NYSE:MS), Halliburton Company (NYSE:HAL), and Hasbro, Inc. (NASDAQ:HAS) -- topping expectations, and highly anticipated results from Dow component Apple Inc. (NASDAQ:AAPL) due out tomorrow evening. Meanwhile, the Nasdaq Composite (COMP) looks to extend its hot streak after setting a record high on Friday. Elsewhere, however, it's shaping up to be a rough session for gold bugs, with the precious metal dropping to five-year lows in Asian trading today.

 

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

 

• 3 oil stocks sliding toward all-time lows.
• Last week was a big one on the IPO front, and this week, Wall Street has a pair of new offerings to look forward to.
• While quarterly earnings have had a record-setting effect on some stocks, the same can't be said for others.

 And now, on to the numbers…

 

Futures on the Dow Jones Industrial Average (DJIA) are nearly 23 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.2 million call contracts traded on Friday, compared to 679,313 put contracts. The resultant single-session equity put/call ratio fell to 0.55, while the 21-day moving average remained at 0.68.

Currencies and Commodities

• The U.S. dollar index is up 0.1% at 97.99.
• Crude oil has given back 0.3% to trade at $51.06 per barrel.
• Gold has fallen 1.7% at $1,112.70 per ounce.

 

 

Earnings and Economic Data

 

There are no notable economic reports on today's docket. On the earnings front, International Business Machines (IBM), Cal-Maine Foods (CALM), Rambus (RMBS), Steel Dynamics (STLD), and Zions Bancorp (ZION) will report. Meanwhile, PayPal (PYPL) is set to start publicly trading on the Nasdaq. 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 China's new Internet finance regulations, read Overseas Trading: European Markets Rally as Greek Banks Open for Business.

 

 

Unusual Put and Call Activity

 

 

 

 

It's another day, another new peak for the Nasdaq Composite (COMP), which earlier topped out at an intraday best of 5,225.30. Buoying the tech-heavy benchmark are analyst-induced pops for two notable COMP components, with both notching their highest perches to date. Elsewhere, the Dow Jones Industrial Average (DJIA) and the S&P 500 Index (SPX) have each moved off earlier lows, and are enjoying modest gains at midday. Looking ahead, this week's market drivers will be brought back home, as Greece takes a backseat to corporate earnings season and tumbling commodities.

 

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

 

• A $2.2 billion purchase is boosting this solar stock, while negative analyst notes are sinking these two online issues.
• Is it worth the risk to trade this "auto-hedge" ETF? Schaeffer's contributor Adam Warner investigates.
• 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 wearable camera maker GoPro Inc (NASDAQ:GPRO), with the contracts changing hands at eight times the average intraday rate -- and outpacing puts by a 2-to-1 margin. The stock is up 5.3% at $59.61, and it seems like pre-earnings option traders are buying to open the weekly 7/24 60-strike call, betting on a round-number breakout by week's end.

 

Vivint Solar Inc (NYSE:VSLR) is the top gainer on the Big Board -- up 44.4% at $15.73. Helping boost the shares is news of a multi-billion-dollar buyout bid from one of its sector peers. The security is now boasting a year-to-date lead of 70%.

 

Unlike fellow toy stock Mattel, Inc. (NASDAQ:MAT), Hasbro, Inc. (NASDAQ:HAS) is soaring after the company's quarterly earnings report. Specifically, the firm's second-quarter earnings beat estimates, sending the shares to a record high of $83.52 in early action. More recently, the stock was up 6.1% at $83.01 -- just as the options market predicted -- and on track for its first-ever close north of the round-number $80 mark. This area that has contained HAS in recent weeks.

 

 

The CBOE Volatility Index (VIX) is down 0.1 point, or 0.7%, at 11.87, and on track for its first sub-12 close since early December.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.86, with puts almost doubling calls. SPY is up 0.3 point, or 0.1%, at $212.73.

The Dow Jones Industrial Average (DJIA) is pointed lower ahead of the bell, as traders are unhappy with the latest round of earnings. Specifically, blue chip International Business Machines Corp. (NYSE:IBM) reported disappointing results last night, weighing on the shares ahead of the bell. This morning, meanwhile, Dow components United Technologies Corporation (NYSE:UTX) and Verizon Communications Inc. (NYSE:VZ) are down on a reduced profit forecast and lackluster sales, respectively. Elsewhere, the Nasdaq Composite (COMP) is pointed higher, and could make a run at another all-time record.

​

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

 

• Schaeffer's Senior VP of Research Todd Salamone calls out the rare VIX signal that happened for the second time ever last week.
• This pair of e-commerce stocks fared very differently on Monday.
• Based on recent history, these 2 big-caps could make major moves after reporting earnings tonight.

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are more than 46 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.03 million call contracts traded on Monday, compared to 579,921 put contracts. The resultant single-session equity put/call ratio inched up to 0.56, while the 21-day moving average held steady at 0.68.

Currencies and Commodities

• The U.S. dollar index is down 0.2% at 97.84.
• Crude oil has edged up a slim 0.04% at $50.46 per barrel.
• Gold is extending its slide, off another 0.1% at $1,105.50 per ounce.

 

 

Earnings and Economic Data

 

There are no notable economic reports today. Apple Inc. (AAPL), Microsoft (MSFT), Travelers (TRV), GoPro Inc (GPRO), Yahoo! Inc. (YHOO), VMware (VMW), Chipotle Mexican Grill (CMG), Linear Technologies (LLTC), Intuitive Surgical (ISRG), Baker Hughes (BHI), Fifth Third Bancorp (FITB), Harley-Davidson (HOG), Lockheed Martin (LMT), Novartis AG (NVS), and TD Ameritrade (AMTD) are among the many names reporting. To see what else is on this week's docket, click here.

 

Overseas Trading

 

For a breakdown of today's trading in Asia and Europe, including a strong showing among Japanese airlines, read Overseas Trading: Asia Stocks Rally, Shrugging Off Commodity Slump.

 

 

Unusual Put and Call Activity