Futures on the Dow Jones Industrial Average (DJIA) are suggesting a negative start, with the advance reading on second-quarter gross domestic product (GDP) showing a smaller-than-forecast rise of 2.3% -- though the first-quarter number was upwardly revised to 0.6%, compared to the previously reported contraction of 0.2%. Traders will also have weekly jobless claims to consider after last week's sudden drop-off, while also deciphering yesterday's Federal Open Market Committee (FOMC) decision. And, of course, it'll be another busy day for earnings. 

 

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

 

• We know how earnings played out for Facebook Inc (NASDAQ:FB) and Twitter (NYSE:TWTR) -- now we have one social media giant to go. 
• Why this restaurant chain's same-store sales had analysts predicting new record highs. 
• In case you missed it ... 3 stocks to stalk for August (and 3 to sidestep). 

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are 18.4 points below fair value. 

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 895,660 call contracts traded on Wednesday, compared to 559,486 put contracts. The resultant single-session equity put/call ratio stayed at 0.62, while the 21-day moving average moved lower to 0.68.

 

Currencies and Commodities

• The U.S. dollar index is up 0.4% at 97.32.
• Crude oil has gained 0.5% at $49.03 per barrel. 
• Gold is down 0.7% at $1,085.20 per ounce. 

 

 

Earnings and Economic Data

 

In addition to GDP and jobless claims, traders will also be watching earnings reports from Procter & Gamble (PG), LinkedIn (LNKD), FireEye (FEYE), Alcatel Lucent (ALU), Amgen (AMGN), AstraZeneca (AZN), Avon Products (AVP), Colgate-Palmolive (CL), ConocoPhillips (COP), Crocs (CROX), Delphi Automotive (DLPH), Deckers Outdoor (DECK), Eldorado Gold (EGO), Electronic Arts (EA), Fiat Chrysler (FCAU), Goldcorp (GG), Marathon Petroleum (MPC), Mondelez International (MDLZ), Monster Worldwide (MWW), Outerwall (OUTR), Pitney Bowes (PBI), Sealed Air (SEE), Sony (SNE), Stanley Black & Decker (SWK), Starwood Hotels (HOT), Steven Madden (SHOO), Teva Pharmaceutical Industries (TEVA), T-Mobile US (TMUS), Valero Energy (VLO), Virgin America (VA), VIVUS (VVUS), World Wrestling Entertainment (WWE), Yamana Gold (AUY), and Yandex NV (YNDX). 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 why stocks fell apart in China, read Overseas Trading: Shanghai Slips As Banks Eye Equity Exposure. 

 

 

Unusual Put and Call Activity

 

 

The Dow Jones Industrial Average (DJIA) headed lower out of the gate and hasn't looked back, as traders digest lackluster gross domestic product (GDP) figures, as well as the possibility of a September interest-rate hike. Leading the Dow lower is blue chip Procter & Gamble Co (NYSE:PG), which is off 3.5% on lower-than-expected quarterly sales and weak guidance for the upcoming fiscal year. On the economic front, first-time jobless claims rose less than predicted last week.

 

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

 

• Social media stocks got roughed up yesterday, and Facebook Inc (NASDAQ:FB) is following suit.
• 3 pharmaceutical names making massive moves.
• 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 Nokia Corporation (ADR) (NYSE:NOK), as the contracts are being exchanged at 17 times the usual intraday rate. At last check, the tech issue was up 5.6% at $6.96, following an earnings beat. Diving deeper on the options front, data from the International Securities Exchange (ISE) shows a massive sweep of October 8 calls was bought to close earlier.

 

One of the worst losers on the Nasdaq is Whole Foods Market, Inc. (NASDAQ:WFM), which has fallen 11% to trade at $36.34, and earlier skimmed a three-year low of $35.82. Weighing on shares of the organic grocer are disappointing quarterly results and a subsequent round of negative analyst attention.

 

One of the top winners on the Big Board is Skechers USA Inc (NYSE:SKX), up 14.3% at $146.78 -- and fresh off an all-time peak of $147.29. Unlike WFM, the shoe retailer reported better-than-expected earnings and received a number of price-target hikes, in response.

 

 

The CBOE Volatility Index (VIX) is up 0.01 point, or 0.1%, at 12.51.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.00, with puts doubling calls. The SPY was last seen off 1 point, or 0.5%, at $209.74.

 

The Dow Jones Industrial Average (DJIA) explored a triple-digit range for the eighth consecutive session (but failed to notch a sixth straight triple-digit close), though it had little to show for it at the closing bell. The Nasdaq Composite (COMP), on the other hand, outperformed. Traders responded to this morning's updates on the U.S. economy and the employment backdrop, looking for signs that could possibly strengthen the Fed's case for a September rate hike. Earnings also commanded Wall Street's attention, with social media maven Facebook Inc (NASDAQ:FB) and online travel company MakeMyTrip Limited (NASDAQ:MMYT) among the many names that endured notable reactions.

 

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

 

• Is it a good time to buy CBOE Volatility Index (VIX) calls? Schaeffer's contributor Adam Warner investigates.
• This popular grocer and this 3-D printing firm tumbled to fresh lows following their respective earnings reports.
• 3 stocks in the news and 3 drug stocks making moves.
• Plus ... The U.S. economy accelerated in the second quarter, Obama asks SCOTUS to weigh in on insider trading, and the hotel name that went tumbling on busted M&A rumors.

 

The Dow Jones Industrial Average (DJIA - 17,745.98) spent time on both sides of breakeven today, eventually closing 5.4 points lower. Sixteen of the Dow's 30 components gained ground, led by United Technologies Corporation's (NYSE:UTX) 1.4% advance. Procter & Gamble Co (NYSE:PG) paced the 14 decliners with its 4% earnings-induced drop.

 

The S&P 500 Index (SPX - 2,108.63) ended not far from where it started the session, eking out a fractional gain. The Nasdaq Composite (COMP - 5,128.78), meanwhile, outperformed its peers, adding 17.1 points, or 0.3%.

 

The CBOE Volatility Index (VIX - 12.13) gave back 0.4 point, or 3% -- and brought its month-to-date deficit to 33.5%.

 

5 Items on Our Radar Today:

 

1. Just one day after the Federal Reserve left the door open for a possible September rate hike, the Commerce Department said second-quarter gross domestic product (GDP) grew at 2.3% annualized rate. Additionally, first-quarter GDP was revised up to a gain of 0.6%, compared to previous estimates of a contraction. (Bloomberg)
2. The Obama administration has asked the Supreme Court to review last year's ruling on insider trading, which narrowed the definition of what insider trading is and how it is prosecuted. In today's challenge, the Department of Justice said the previous ruling will "hurt market participants, disadvantage scrupulous market analysts, and impair the government's ability to protect the fairness and integrity of the securities markets." (USA Today)
3. Bears cheered as Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT) erased early gains, after reports the company could be in talks to merge with one of its rivals were quickly laid to rest.
4. Option bulls have been upping the ante on Amazon.com, Inc. (NASDAQ:AMZN), which recently won the bidding war for this highly anticipated series.
5. It was a tough day for these 2 oil-and-gas issues, which each lost more than a quarter of their value after reporting earnings. Next up -- Exxon Mobil Corporation (NYSE:XOM).

 

Commodities:

 

A strengthening greenback in the wake of this morning's GDP data sent crude oil lower. By the close, the September-dated contract was off 27 cents, or 0.6%, at $48.52 per barrel.

 

Gold futures also succumbed to the rising dollar. At session's end, gold for December delivery -- now the most active contract -- was down $4.60, or 0.4%, at $1,088.70 per ounce.

As a busy week comes to an end, futures on the Dow Jones Industrial Average (DJIA) are pointed lower. With the blue-chip index currently up 1% for the week -- and 0.7% for the month -- the Dow could do battle with its looming 200-day moving average, docked at 17,768.01, in today's session. This trendline hasn't been bested on a daily closing basis since last Wednesday, July 22.

Meanwhile, traders continue to consider yesterday's gross domestic product (GDP) miss, and weigh the odds of a September rate hike following the Federal Open Market Committee's (FOMC) Wednesday statement on the economy. As far as today's data goes, the employment cost index (ECI), the Chicago purchasing managers index (PMI), and the Thomson Reuters/University of Michigan consumer sentiment index will all be revealed. 

 

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

• How traders are betting on Amazon.com, Inc. (NASDAQ:AMZN) to gain 21% -- in the next month. 
• Wynn Resorts, Limited (NASDAQ:WYNN) and Las Vegas Sands Corp. (NYSE:LVS) left this sector peer in the dust. 
• 2 commodity stocks that took it on the chin on Thursday.

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are roughly 7 points below fair value. 

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 931,308 million call contracts traded on Thursday, compared to 468,036 put contracts. The resultant single-session equity put/call ratio dropped to 0.50 -- its lowest since June 10 -- while the 21-day moving average remained at 0.67.

Currencies and Commodities

• The U.S. dollar index is down 0.2% at 97.37.
• Crude oil is off 1.9% at $47.61 per barrel.
• Gold is down 0.8% at $1,079.90 per ounce. 

 

 

Earnings and Economic Data

 

The ECI, Chicago PMI, and consumer sentiment data headline today's economic roster. As for earnings, the week closes out with Exxon Mobil (XOM), Immunogen (IMGN), Phillips 66 (PSX), Royal Caribbean (RCL), Seagate Technology (STX), and Tyco International (TYC). 

 

Overseas Trading

 

For a breakdown of today's trading in Asia and Europe, including China's worst month in years, read Overseas Trading: Shanghai Stocks Wrap Up Brutal July. 

 

Unusual Put and Call Activity

 

 

The Dow Jones Industrial Average (DJIA) has fluttered above and below breakeven today, but is currently sitting on a gain -- despite intense pressure from a pair of energy names and mostly downbeat data. Specifically, blue chips Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX) are selling off on dreary earnings numbers, while crude has tanked below $48 per barrel. Meanwhile, consumer sentiment slipped and the employment cost index posted its smallest gain on record, while the Chicago purchasing managers index (PMI) topped expectations.

 

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

 

• Schaeffer's contributor Adam Warner breaks down the good, the bad, and the ugly on Twitter Inc (NYSE:TWTR).
• M&A rumors have this beverage stock flirting with highs, while earnings season has claimed its latest social media victim.
• 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 touchscreen expert Synaptics, Incorporated (NASDAQ:SYNA), with the contracts running at five times the expected intraday clip. The shares plunged 7.7% out of the gate on disappointing earnings and guidance -- as well as a number of price-target reductions -- but was last seen just 1.4% lower at $78.13. SYNA's most active strike is the August 80 call, where a block of 2,000 contracts was apparently sold earlier.

 

One of the top gainers on the Nasdaq is Medivation Inc (NASDAQ:MDVN), up 10.8% at $107.45 -- and back in positive year-to-date territory. The drugmaker's shares are getting a lift from news of a 2-for-1 stock split.

 

​

One of the leading losers on the Big Board is Ocwen Financial Corp (NYSE:OCN), thanks to downbeat quarterly results. The mortgage lender was last seen 22.3% lower at $9.14, and has lost over 39% in 2015 -- in no small part due to OCN's early 2015 legal wranglings.

 

The CBOE Volatility Index (VIX) is off 0.3 point, or 2.1%, at 11.87.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.89, with puts almost doubling calls. At last check, the SPY is up 0.5 point, or 0.2%, at $211.30.

 

The Dow Jones Industrial Average (DJIA) explored both sides of breakeven today -- and yet another triple-digit range -- as traders weighed a relatively soft batch of economic data against a steep sell-off in oil and dismal earnings from a pair of blue-chip energy giants. However, bears made a decisive run in the final hour of trading, and by the time the dust settled, the DJIA had lost the day, while crude oil logged its biggest monthly decline since the recession. Next week could be a volatile one, too, with the highly anticipated payrolls report on tap and earnings from some major players set for release.

 

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

 

• 3 China stocks that tracked the mainland's massive July meltdown.
• Tesla Motors Inc's (NASDAQ:TSLA) big pre-earnings announcement.
• Can GoPro Inc (NASDAQ:GPRO) continue to rally?
• Plus ... Economic data ends the week on a mostly down note, Greece re-enters the picture, and the newest IPO on the block.

 

The Dow Jones Industrial Average (DJIA - 17,690.46) made a brief appearance north of its 200-day moving average, but failed to close above a trendline that's kept the 30-stock index at bay of late. By the close, the blue-chip barometer was sitting on a 55.5-point, or 0.3%, loss. Exactly half of the DJIA's 30 components closed lower, led by Chevron Corporation's (NYSE:CVX) 4.9% plunge. The Coca-Cola Co (NYSE:KO) paced the 15 advancers with its 1.3% pop, amid M&A buzz among its bottlers. For the week, the Dow added 0.7%, and 0.4% for the month.

Despite shedding 4.7 points, or 0.2%, the S&P 500 Index (SPX - 2,103.92) kept its footing atop the 2,100 mark. The Nasdaq Composite (COMP - 5,128.28), meanwhile, outperformed its peers, losing a mere 0.5 point. Week-over-week, the SPX and COMP added 1.2% and 0.8%, respectively. For July, the SPX jumped 2%, while the COMP rallied 2.8%.

 

The CBOE Volatility Index (VIX - 12.12) settled not far from where it started, shedding 0.01 point, or 0.1%. On a weekly basis, the market's "fear gauge" fell 11.8% -- and surrendered 33.5% on the month.

 

 

 

5 Items on Our Radar Today:

 

1. The employment cost index -- a gauge of wage trends and wage inflation -- grew at its slowest pace in 33 years in the second quarter. Elsewhere, the Thomson Reuters/University of Michigan consumer sentiment index fell sequentially to 93.1 from 96.1 in July, while business activity in Chicago rose to a six-month high. (Reuters)
2. After being closed since June 26, markets in Athens, Greece, are set to reopen on Monday. Traders will be able to purchase stocks, dividends, bonds, and warrants as long as they use so-called "new money." The U.S.-listed shares of Global X FTSE Greece 20 ETF (GREK) have lost 18% since their June 26 close at $11.78. (Reuters via Schaeffer's Investment Research; Bloomberg)
3. Exclusive fitness firm SoulCycle filed for its initial public offering (IPO) on Thursday, setting its fundraising goal at $100 million. The firm derives nearly all of its revenue from three large metro areas -- New York, Los Angeles, and San Francisco.
4. Netflix, Inc. (NASDAQ:NFLX) is giving everyone a reason to stay in this weekend.
5. A disappointing premier for one IPO sent Sunedison Inc (NYSE:SUNE) spiraling, but there still might be hope for the stock.

 

 

Commodities:

 

Crude oil nosedived today, following reports that the U.S. rig count rose and Middle East producers were pumping at record levels. By the close, crude for September delivery was down $1.40, or 2.9%, at $47.12 per barrel. For the week, crude gave back 2.1%, and 20.8% on the month -- its worst monthly decline since October 2008.

 

Gold, meanwhile, pared earlier losses following disappointing labor cost data. At session's end, December-dated gold was up $6.40, or 0.6%, at $1,095.10 per ounce. The malleable metal added 0.9% week-over-week, but shed 6.5% for the month -- its biggest monthly drop since June 2013.

Futures on the Dow Jones Industrial Average (DJIA) are indicating another push-and-pull session, as traders keep a close eye trained overseas. Specifically, the Athens stock market re-opened today after being shuttered for more than a month -- and, as expected, it's been a rocky start, with the Athens Stock Exchange down roughly 23% at one point. Meanwhile, there's plenty on the homefront to hold investors' attention, with a slew of economic data -- including monthly auto sales -- and earnings due out.

 

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

 

• These 2 commodity stocks got clobbered after their most disappointing quarters in years -- but this alternative energy name was even worse off. 
• Can Netflix, Inc. (NASDAQ:NFLX) possibly keep its red-hot summer alive? 
• What's up with this soon-to-be-public company's cult following? 
• Plus … 5 things you need to know this morning -- including stocks making waves, what's happening overseas, and the latest in unusual option activity.

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are 8 points above fair value.

5 Things You Need to Know Today

1. China's Shanghai Composite extended its recent decline, thanks to a round of uninspiring manufacturing data, while European benchmarks are brushing off a sell-off in Greek bank stocks.
2. The CBOE Volatility Index (VIX) slumped last month, giving back more than one-third of its value to settle at 12.12.
3. President Barack Obama is expected to unveil a stiff environmental plan today today, taking what he calls "the biggest, most important step" to battle climate change -- a move that could possibly be a boon to solar energy stocks.
4. Iran's oil minister said the country plans to boost output by at least 500,000 barrels per day once sanctions are lifted in November. The news has sent crude lower ahead of the bell, and on pace to extend last week's steep losses. At last check, September futures are off about 1 point at $46.14 per barrel.
5. Tyson Foods, Inc. (NYSE:TSN) has kicked off a busy week of earnings on a gloomy note, after the chicken concern said fiscal third-quarter earnings fell short of estimates and lowered its full-year forecast.The stock is off more than 9% in pre-market action.

 Market Statistics

• Exxon Mobil Corporation (NYSE:XOM), LinkedIn Corp (NYSE:LNKD), and AT&T Inc. (NYSE:T) were among the equities with unusual call and put activity on Friday. For the entire list, read Unusual Options Activity: XOM, LNKD, TASR, HTZ, TSLA, NFLX.
• The Chicago Board Options Exchange (CBOE) saw 778,472 call contracts traded on Friday, compared to 532,348 put contracts. The resultant single-session equity put/call ratio jumped to 0.68, while the 21-day moving average remained at 0.67.
• For info on currencies, commodities, trading volume, market breadth, and more, read Stock Market Stats For July 31, 2015. 

 

Earnings and Economic Data

 

Today kicked off with mixed data on June personal income and personal spending figures. Looking ahead, the Street will get the Markit purchasing managers manufacturing index (PMI), the Institute for Supply Management (ISM) manufacturing index, and construction spending and auto sales data for July. Also, Federal Reserve Governor Jerome Powell will make a speech in Washington, D.C.

Broadsoft (BSFT), Clorox (CLX), Loews Corp. (L), and TSN announced earnings ahead of the bell. After the closing bell sounds, American International Group (AIG), Allstate (ALL), Avis Budget Group (CAR), Biomarin Pharmaceuticals (BMRN), Checkpoint Systems (CHKP), Ctrip.com (CTRP), General Growth Properties (GGP), Lending Tree (TREE), Microchip Technology (MCHP), Nautilus (NLS), Tessera Tech (TSRA), and Veeco Instruments (VECO) will slip into the earnings confessional. To see what else is on this week's agenda, click here.

The Dow Jones Industrial Average (DJIA) has already traded in a 123-point range -- its 10th straight day of triple-digit swings -- to find itself lower at the halfway point. The DJIA quickly gave back a slim, early lead on the heels of another energy-sector swoon and tepid economic data. For example, personal spending increased by less than expected, and the Institute for Supply Management's (ISM) manufacturing index unexpectedly fell in June. In addition, traders continue to digest the painful return for Greece's stock market, while tracking the latest on the earnings front. 

 

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

 

• Can Walt Disney Co (NYSE:DIS) hit new all-time highs after earnings? 
• The oil juggernaut exploring three-year lows. 
• 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 insurance issuer Partnerre Ltd (NYSE:PRE). With news the company is being purchased for nearly $7 billion, puts are now crossing at 61 times the typical pace. Digging deeper, it looks like traders are placing bets in the February series, perhaps to insure their positions in case the deal falls through. The shares of PRE were last see 2.2% higher at $139, and earlier touched a record peak of $139.05. 

 

One of the top gainers on the Nasdaq is Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX), after the company's oral cancer drug met its main goal in a late-stage study. Shares of the drugmaker are 51% higher at $12.70, and earlier touched an annual high of $13.75. 

 

One of the top losers on the Big Board is 500.com Ltd (NYSE:WBAI), which has fallen 9.7% to $21.26, continuing last week's earnings-induced sell-off. The online gaming stock still boasts a solid long-term technical record, maintaining a 22.5% year-to-date lead. 

 

 

The CBOE Volatility Index (VIX) is up 0.2 point, or 1.7%, at 12.33, but couldn't hold the 13 level. 

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.8, with puts nearly doubling calls. The SPY was last seen 0.4 point, or 0.2%, lower at $210.08. 

The Dow Jones Industrial Average (DJIA) started the month of August on a rough footing, eventually notching its third consecutive daily loss. Crude's sell-off took its toll on energy stocks, while the broader market felt the sting from a round of less-than-stellar economic data -- auto sales notwithstanding. Among individual equities, Twitter Inc (NYSE:TWTR) caught traders' attention with its dismal session and new record low. Meanwhile, looking ahead to tomorrow, Wall Street is gearing up for another big day of earnings.

 

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

 

• Our founder and CEO, Bernie Schaeffer, explains how our "leverage ratio" helped predict a winning put trade.
• The bankruptcy news that sent coal stocks spiraling into the red.
• Trading resumed in Athens today -- so how did this trio of U.S.-listed Greek stocks fare?
• Plus ... Economic data comes in mixed, Amazon Prime's (inconvenient) policy change, and energy gets drilled.

 

The Dow Jones Industrial Average (DJIA - 17,598.20) spent almost the entire day in the red, and finished on a loss of 91.7 points, or 0.5%. Ten of the Dow's 30 components settled in the green, led by The Coca-Cola Co's (NYSE:KO) 1.1% gain. Chevron Corporation (NYSE:CVX) once again paced the 19 blue-chip losers, sliding 3.3%. JPMorgan Chase & Co. (NYSE:JPM) finished flat.

The S&P 500 Index (SPX - 2,098.04) dropped 5.8 points, or 0.3% -- and below the round 2,100 century level. The Nasdaq Composite (COMP - 5,115.38) lost 12.9 points, or 0.3%.

The CBOE Volatility Index (VIX - 12.56) added 0.4 point, or 3.6% -- its first positive session in the last five.

 

 

 

 

5 Items on Our Radar Today:

 

1. It was a mixed day on the economic front, as construction spending rose less than expected, and the Institute for Supply Management's (ISM) manufacturing index unexpectedly slipped. Meanwhile, factory activity inched upward, personal income increased more than projected, and personal spending rose in line with estimates. (CNBC; Reuters)
2. Amazon.com, Inc. (NASDAQ:AMZN) has implemented changes to its Prime service, in what looks like an attempt to crack down on sharing benefits with extended family members and friends. (TechCrunch)
3. President Barack Obama's environmental plans took their toll on fossil fuel stocks, but failed to lift alternative energy names.
4. Three big-name companies headed to the earnings confessional tomorrow night -- along with one blue chip.
5. It was a brutal day for high-end retailers, including Michael Kors Holdings Ltd (NYSE:KORS) and Coach Inc (NYSE:COH).

 

 

 

 

Commodities:

 

Crude got hammered amid a generally weak round of economic data out of the U.S. and China, which raised concerns about demand. By day's end, September-dated futures shed $1.95, or 4.1%, to land at $45.17 per barrel -- the commodity's biggest single-day drop in a month.

 

Gold for December delivery got hit by a stronger dollar amid concerns that Friday's nonfarm payrolls report could pave the way for a September interest-rate hike. At the close, the malleable metal was down $5.70, or 0.5%, at $1,089.40 per ounce.

 

The Dow Jones Industrial Average (DJIA) is signaling another fragile session, with futures on the blue-chip barometer pointed lower ahead of the bell. Traders will be keeping a close eye on crude oil, with September futures up about 2% in electronic trading following Monday's sharp decline. Additionally, with factory orders the sole economic report on the day's docket -- ahead of some key data due later this week -- the latest round of corporate earnings should draw some attention.

 

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

 

• Schaeffer's Senior VP of Research Todd Salamone uncovers the S&P pattern that no one is talking about.
• Is this little-known volatility vehicle a better choice than iPath S&P 500 VIX Short-Term Futures ETN (VXX)? Schaeffer's contributor Adam Warner investigates.
• Negative pre-earnings analyst attention sent this retailer and its sector peer tumbling to new lows.
• Plus … 5 things you need to know this morning -- including stocks making waves, what's happening overseas, and the latest in unusual option activity.

 And now, on to the numbers…

 

 

Futures on the Dow Jones Industrial Average (DJIA) are more than 14 points below fair value.

 

5 Things You Need to Know Today

1. Stocks in China bounced back, after regulators stepped in with a fresh round of short-selling restrictions.
2. CBOE Volatility Index (VIX) calls outpaced puts by a more than 2-to-1 margin yesterday. According to Trade-Alert, one speculator appears to have sold 70,000 August 12.50 puts in order to fund a the purchase of a long call spread at the August 16 and 18 strikes. VIX closed Monday up 3.6% at 12.56.
3. Apple Inc. (NASDAQ:AAPL) has officially entered correction territory -- closing at $118.44 on Monday, or 10.9% below its Feb. 23 record close of $133. The stock, which also settled below its 200-day moving average yesterday for the first time since September 2013, has recently suffered from a poorly received earnings report -- and looks poised to extend this rout today, down 1% in electronic trading.
4. After settling with steep losses yesterday -- its first trading session in more than five weeks -- the Athens Stock Exchange plunged nearly 5% out of the gate today. The benchmark has since pared a portion of this deficit, and was last seen around 1.4% lower.
5. It's already been a big week on the M&A front, and today, shares of biopharmaceutical firm Baxalta Inc (NYSE:BXLT) are up 16% ahead of the bell -- and on their way to record-high territory -- after the company received a roughly $31 billion bid from Shire PLC (ADR) (NASDAQ:SHPG). SHPG, meanwhile, is down 5% in electronic trading, after being halted earlier.

Market Statistics

• Transocean LTD (NYSE:RIG), Twitter Inc (NASDAQ:TWTR), and Sunedison Inc (NYSE:SUNE) were among the equities with unusual call and put activity on Monday. For the entire list, read Unusual Options Activity: TWTR, DIS, RIG, COH, and KORS.
• The Chicago Board Options Exchange (CBOE) saw 775,995 call contracts traded on Monday, compared to 569,751 put contracts. The resultant single-session equity put/call ratio rose to 0.73, while the 21-day moving average edged up to 0.68.
• For info on currencies, commodities, trading volume, market breadth, and more, read Stock Market Stats for August 3, 2015.

Earnings and Economic Data

 

Factory orders for June are the sole data point on today's docket. Reporting earnings are Walt Disney (DIS), Etsy (ETSY), First Solar (FSLR), Zillow (Z), Aetna (AET), Archer Daniels Midland (ADM), Beazer Homes USA, Inc. (BZH), Caesars Entertainment (CZR), Coach (COH), CVS Health Corp. (CVS), Devon Energy (DVN), Dreamworks Animation (DWA), Glu Mobile (GLUU), HomeAway (AWAY), Kellog (K), MBIA (MBI), MGM Resorts (MGM), Momenta Pharmaceuticals (MNTA), Mosaic (MOS), Office Depot Inc (ODP), Papa John's (PZZA), Regeneron (REGN), and Sprint (S). To see what else is on this week's agenda, click here.

 

The Dow Jones Industrial Average (DJIA) continues to hover near breakeven, as the spotlight pivots toward Apple Inc. (NASDAQ:AAPL). The tech heavyweight is another 3.5% lower today -- hands-down the worst-performing blue chip -- as bulls abandon ship after a major technical development. Meanwhile, crude -- and energy stocks -- are attempting a modest comeback after yesterday's slide, while factory orders rose 1.8% in June. Also in focus is Dow component Walt Disney Co (NYSE:DIS), with the shares hitting another record high ahead of tonight's earnings release. 

 

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

 

• 2 biotechs on a record-breaking run -- and one sector peer struggling to keep pace. 
• How option traders are playing Tesla Motors Inc (NASDAQ:TSLA) ahead of earnings. 
• 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 Coach Inc (NYSE:COH), though the shares are up 2.4% at $31.17 after yesterday's analyst-related drop, thanks to a well-received earnings report. Puts are crossing at seven times the expected pace, and it appears some traders are buying to open the weekly 8/7 30-strike put, expecting a drop below $30 before the week's over. 

 

One of the top gainers on the Nasdaq is Lendingtree Inc (NASDAQ:TREE), which has jumped 34.4% to $111.00, and earlier notched an all-time high of $116.95. The surge was prompted by an impressive showing in the earnings booth last evening. The online loaning concern has now more than tripled during the past 12 months. 

 

Conversely, Cognex Corporation (NASDAQ:CGNX) is one of the Nasdaq's biggest losers, dropping 19.5% to trade at $36.18, after hitting an annual low of $32.35 earlier. The barcode reader manufacturer is now in the red on a year-over-year basis, after lowering its current-quarter revenue outlook. 

 

 

The CBOE Volatility Index (VIX) is up 0.1 point, or 1%, but again met resistance near the 13 level. 

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.1, with put volume and call volume relatively even. The SPY was last seen 0.3 point, or 0.2%, lower at $209.49. 

The Dow Jones Industrial Average (DJIA) flirted with early gains before reversing lower for its fourth straight loss. Leading the Dow south was blue chip Apple Inc. (NASDAQ:AAPL), which dropped below its 200-day moving average yesterday, and shows no signs of bouncing back. On the commodities front, a rally in China was a boon to crude oil, while rate-hike chatter limited gold's gains. Finally, while the economic calendar was relatively bare today (with just factory orders in focus), there was plenty to digest on the corporate front -- including M&A rallies for these 2 stocks and a post-earnings swoon for this insurance name.

 

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

 

• Will FitBit Inc (NYSE:FIT) make a big post-earnings move following its first quarterly report? The options market thinks so.
• Inside major management shake-ups at these 2 retailers.
• In case you missed it, the bullish S&P pattern that (almost) no one's talking about.
• Plus ... A Fed official weighs in on interest rates, factory orders bounce, and Netflix, Inc.'s (NASDAQ:NFLX) newest milestone.

The Dow Jones Industrial Average (DJIA - 17,550.69) spent most of the day in the red, but bounced from the round 17,500 level to close on a modest loss of 47.5 points, or 0.3%. Ten of the Dow's 30 components settled higher, led by a 1.6% advance at Microsoft Corporation (NASDAQ:MSFT). AAPL paced the 20 blue-chip laggards, sliding 3.2%.

The S&P 500 Index (SPX - 2,093.32) gave back 4.7 points, or 0.2%, for its third consecutive loss. The Nasdaq Composite (COMP - 5,105.55) dipped 9.8 points, or 0.2%, but managed to close above the 5,100 century mark.

The CBOE Volatility Index (VIX - 13.00) edged up 0.4 point, or 3.5%, for its second straight daily win.

 

 

 

 

5 Items on Our Radar Today:

 

1. Atlanta Fed President Dennis Lockhart said he thinks the current economic backdrop makes a September interest-rate hike "appropriate." "I think there is a high bar right now to not acting, speaking for myself," he added. (CNBC)
2. U.S. factory orders rebounded in June, jumping 1.8% -- boosted by a surge in aircraft bookings -- the Commerce Department reported. One month prior, new orders slid 1.1%, raising concerns about the manufacturing sector. Meanwhile, orders for nonmilitary capital goods (excluding aircraft) edged 0.7% higher in June. (The New York Times)
3. The catalyst that sent NFLX to its latest record high.
4. The stock halted after a murder rap?
5. Tesla Motors Inc (NASDAQ:TSLA) reports earnings tomorrow, and expectations are sky-high.

 

 

 

 

Commodities:

 

Crude futures bounced back from Monday's drubbing, thanks to a weaker dollar and a recovery in Chinese markets. At the close, the September-dated contract was up 57 cents, or 1.3%, at $45.74 per barrel.

 

Gold also got a lift from the softer dollar, but pared its gains after Lockhart's comments. By day's end, gold for December delivery had added $1.30, or 0.1%, to settle at $1,090.70 per ounce.