The Dow Jones Industrial Average (DJIA) is signaling a lower start, following last week's volatile price action. The Federal Reserve -- and the possibility of a September interest-rate hike -- will dominate headlines this week, with the minutes from July's Federal Open Market Committee (FOMC) meeting due on Wednesday. Ahead of the highly anticipated event, traders will get to mull over updates on manufacturing and housing, hoping to gain further insight into the strength of the economy. Additionally, the energy sector will remain in focus, with crude headed toward new six-year lows after the world's third-biggest economy showed signs of contracting.

 

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

 

• A pair of technical "lowlights" had bears piling on Micron Technology, Inc. (NASDAQ:MU).
• How this small-cap ended up among the biggest losers on the Russell 2000 Index (RUT).
• Labor unrest sent this metal maker to a multi-year low, while this biotech exploded to record highs on drug data.
• 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 47 points below fair value.

 

5 Things You Need to Know Today

 

1. Stocks in China got a lift from a boost from the airline sector, while German Chancellor Angela Merkel weighed in on Greece's pending aid package.
2. The CBOE Volatility Index (VIX) settled lower on Friday, dropping below its 10- and 20-day moving averages. Meanwhile, Schaeffer's contributor Adam Warner pointed out that realized volatility continues to churn -- despite the Dow seeing an unusually high number of 200-point intraday swings.
3. After making headlines last week following the $9 billion sale of its healthcare loan business, General Electric Company (NYSE:GE) is reportedly on the cusp of gaining approval from the European Union (EU) for its nearly $14 bid for Alstom SA's energy unit. The EU has previously expressed concern about the lack of competition the merger would leave. GE is down 0.1% ahead of the bell.
4. Mega-retailer Amazon.com, Inc. (NASDAQ:AMZN) has been in the bullish limelight since a breakout earnings report last month, but the company is generating some negative buzz this morning in the wake of a scathing New York Times report on working conditions for Amazon's white-collar ranks. AMZN is off 0.2% ahead of the bell.
5. Hedge funds have begun revealing their second-quarter stakes in Apple Inc. (NASDAQ:AAPL) amid the stock's recent technical troubles. David Einhorn's Greenlight Capital, for example, lowered its stake in the iPhone purveyor, while David Tepper's Appaloosa Management LP and Cliff Asness' AQR Capital Management each increased their exposure. AAPL is up 0.1% in electronic trading.

 

 

Market Statistics

• El Pollo Loco Holdings (NASDAQ:LOCO), King Digital Entertainment PLC (NYSE:KING), and Target Corporation (NYSE:TGT) were among the equities with unusual call and put activity on Friday. For the entire list, read Unusual Options Activity: LOCO, KING, TGT, and WX.
• The Chicago Board Options Exchange (CBOE) saw 647,314 call contracts traded on Friday, compared to 436,409 put contracts. The resultant single-session equity put/call ratio dropped to 0.67, while the 21-day moving average remained at 0.71.
• For info on currencies, commodities, trading volume, market breadth, and more, read Stock Market Stats for August 14, 2015.

Earnings and Economic Data

 

The week begins with the Empire State manufacturing survey and the National Association of Home Builders (NAHB) housing market index data. Meanwhile, several energy names could be in focus, as the EnerCom Oil & Gas Conference kicks off. Turning to earnings, Agilent (A), Estee Lauder (EL), MasTec (MTZ), Real Industry (RELY), and Urban Outfitters (URBN) will report. To see what else is on this week's docket, click here.

The Dow Jones Industrial Average (DJIA) has battled back from an early triple-digit deficit and into positive territory, attempting to build on last week's momentum. It looks like the reversal is primarily data-driven, as a near-decade high in homebuilder confidence overshadows a six-year, post-recession low in the Empire State manufacturing survey -- not to mention crude's continued sell-off. Meanwhile, Wall Street is already getting amped up for this Wednesday, when the Fed will release its latest meeting minutes -- which could offer rate-hike timing clues.

 

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

 

• What to expect from these 3 stocks as earnings loom.
• Why Micron Technology, Inc. (NASDAQ:MU) and Hewlett-Packard Company (NYSE:HPQ) are flirting with fresh 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 option volume is drugmaker AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO), as the contracts are running at 125 times the usual midday rate.The company made waves earlier when it announced a global license agreement with Novartis AG (ADR) (NYSE:NVS). Currently, AVEO is up almost 55% at $1.81, and its October 2.50 call is seeing a mix of buy-to-open and sell-to-close activity, per the International Securities Exchange (ISE).

 

One of the top gainers on the Nasdaq is e-tailer Zulily Inc (NASDAQ:ZU), thanks to a buyout agreement with QVC parent Liberty Interactive Group (NASDAQ:QVCA). At last check, ZU has soared 46.7% to trade at $18.44.

 

One of the notable winners on the Big Board is Imprivata Inc (NYSE:IMPR), up 7.4% at $20.11 -- and fresh off a record high of $20.17. Sparking the sharp move north is a round of positive analyst attention for the healthcare firm.

 

 

The CBOE Volatility Index (VIX) is up 0.4 point, or 3%, at 13.22.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.12, with puts more than doubling calls. SPY was last seen 0.5 point, or 0.2%, higher at $209.87.

Similar to last Wednesday, the Dow Jones Industrial Average (DJIA) came back swingin' to climb out of an early triple-digit hole. Wall Street viewed the latest economic data with rose-colored glasses, shrugging off another crude sell-off and ugly manufacturing data out of New York in favor of upbeat housing stats. Now, traders await the next pair of blue-chip earnings, as well as the highly anticipated Federal Open Market Committee (FOMC) meeting minutes. 

 

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

 

• The Apple Inc. (NASDAQ:AAPL) partnership that sent this stock soaring, and the secret project that had AAPL fanboys aflutter.
• How skeptics are playing this pair of energy names, and why analysts predict new lows for this duo.  
• Will the "fear gauge" wake up in September? Schaeffer's contributor Adam Warner weighs in.
• Plus ... Scary IRS stats, Big Ben's two cents, and one fired-up Amazon CEO. 

 

The Dow Jones Industrial Average (DJIA - 17,545.18) was down nearly 136 points at its intraday low, but battled back to a 67.8-point, or 0.4%, win. Twenty-three of the Dow's 30 components ended higher, led by UnitedHealth Group Inc's (NYSE:UNH) 2.3% gain. Oil issue Chevron Corporation (NYSE:CVX) paced the six losers, giving up 2%, while Travelers Companies (NYSE:TRV) finished flat.

 

The S&P 500 Index (SPX - 2,102.44) also recovered from an early swoon, tacking on 10.9 points, or 0.5%, to end back atop the 2,100 level. The Nasdaq Composite (COMP - 5,091.70) fared the best of its peers, with help from a few biotech names, gaining 43.5 points, or 0.9%. 

 

The CBOE Volatility Index (VIX - 13.02) started strong -- hitting 14.52 out of the gate -- only to settle near a session low, up 0.2 point, or 1.5%.

 

 

 

 

5 Items on Our Radar Today:

 

1. Homebuilder sentiment hit its highest level in nearly a decade in August, while New York-area manufacturing fell to a six-year low. The IRS, meanwhile, said the number of taxpayer identities stolen by hackers earlier this year is more than twice the original estimate.  (Reuters; Business Insider; CNBC) 
2. The Pentagon will increase the number of daily drone flights by 50% over the next four years, according to inside sources, marking the first significant increase since 2011. In related news, former Fed Chair Ben Bernanke opined that military spending cuts could have a long-term negative impact on the economy. (MarketWatch​)
3. Speaking of the Fed, this former Goldman Sachs Group Inc (NYSE:GS) exec is about to take power. 
4. Why Amazon.com, Inc. (NASDAQ:AMZN) CEO Jeff Bezos threw the gauntlet at New York Times Co (NYSE:NYT). 
5. The online retailer that skyrocketed on M&A news.

 

 

 

 

Commodities:

 

Crude oil slumped amid lingering concerns about global demand, with the September contract giving up 63 cents, or 1.5%, to dock at $41.87 per barrel -- its lowest close since March 2009.

 

Gold futures bounced back from a two-day skid, thanks to a softer dollar. By the close, December-dated gold added $5.70, or 0.5%, to sit at $1,118.40 an ounce.

The Dow Jones Industrial Average (DJIA) is on pace to erase most of yesterday's hard-won gains, as traders digest a mixed round of blue-chip earnings and another currency-related drop for China's Shanghai Composite. Specifically, Wal-Mart Stores, Inc. (NYSE:WMT) and Home Depot Inc (NYSE:HD) are headed in different directions after earnings, with WMT pointed 2.6% lower in electronic trading, and HD up 1.3%. Meanwhile, Wall Street will also chew on a strong reading on housing starts -- which rose to a pre-recession high in July.
​

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

 

• Why a small-cap breakdown could put the broader market at risk.
• While bears cheered this commodity concern's latest cost-cutting efforts, one telecom stock's bulls got a boost from its new, high-profile partner.
• Wall Street weighed in on Micron Technology, Inc. (NASDAQ:MU) and Mobileye NV (NYSE:MBLY) -- sending one to fresh lows and one to all-time highs.
• 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 60 points below fair value.

 

5 Things You Need to Know Today

 

1. Stocks in China sold off as the yuan took a fresh tumble, while traders in Europe are taking a cautious approach ahead of tomorrow's big bailout vote.
2. The CBOE Volatility Index (VIX) settled at 13.02 on Monday -- right near the middle of its recent range. VIX calls crossed at 1.7 times the average daily rate, and outpaced puts by a nearly 3-to-1 margin. With front-month VIX expiration tomorrow, traders honed in on a number of September-dated options -- including the 20-strike call, where 148,629 contracts changed hands.
3. Following yesterday's big M&A news in the retail sector, financial firm BB&T Corporation (NYSE:BBT) said last night it is buying Pennsylvania-based National Penn Bancshares (NASDAQ:NPBC) for $1.8 billion in cash and stock, or $13 per share. BBT is down 2.7% in electronic trading, while NPBC has popped 14%.
4. With crude prices panning six-year lows, the Bureau of Safety and Environmental Enforcement approved Royal Dutch Shell plc's (ADR) (NYSE:RDS.A) request to drill for oil off Alaska's northwest coast. This is the first time a company has been granted permission to drill in that area since 1991.
5. Esperion Therapeutics Inc (NASDAQ:ESPR) is eyeing an 11% jump out of the gate after the Food and Drug Administration (FDA) said it does not need an extra heart risk trial for its lead drug, ETC-1002. If approved, this could add to the highly competitive cholesterol-lowering drug market.
   

 

 

Market Statistics

 

• Twitter Inc (NYSE:TWTR), Sprint Corp (NYSE:S), and Urban Outfitters, Inc. (NASDAQ:URBN) were among the equities with unusual call and put activity on Monday. For the entire list, read Unusual Options Activity: TWTR, S, MBLY, and URBN.
• The Chicago Board Options Exchange (CBOE) saw 850,654 call contracts traded on Monday, compared to 590,599 put contracts. The resultant single-session equity put/call ratio rose to 0.69, while the 21-day moving average edged up to 0.62.
• For info on currencies, commodities, trading volume, market breadth, and more, read Stock Market Stats for August 17, 2015.

Earnings and Economic Data

 

Housing starts and building permits for July are on the docket for today. In addition to HD and WMT, earnings are also due out from Canadian Solar (CSIQ), Trina Solar (TSL), Analog Devices (ADI), Cheetah Mobile (CMCM), Dick's Sporting Goods (DKS), Hain Celestial (HAIN), La-Z-Boy (LZB), TJX (TJX), SINA (SINA), and Weibo (WB). To see what else is on this week's calendar, click here.

 

 

The Dow Jones Industrial Average (DJIA) has explored a relatively narrow range on both sides of the flatline, but was last seen lower. The bellwether is struggling to pick a direction following a mixed round of blue-chip earnings. Also, traders are mulling another batch of upbeat housing data against another yuan-induced drop in China, while gearing up for tomorrow's Fed minutes release.

 

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

 

• 6 U.S.-listed stocks following Chinese markets into the red.
• Notes from MKM Partners are propping up Facebook Inc (NASDAQ:FB) and pressuring Twitter Inc (NYSE:TWTR).
• 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 Wal-Mart Stores, Inc. (NYSE:WMT), with the contracts crossing at five times the usual midday rate. The shares are 3.1% lower at $69.68, and fresh off a two-year bottom of $69.55, on lackluster earnings and guidance. Digging deeper on the options front, one speculator may have rolled his bet down and out, possibly selling to close a block of 1,751 August 73 calls and buying to open a matching lot of September 72.50 calls.

 

The top gainer on the Nasdaq is drugmaker Omeros Corporation (NASDAQ:OMER), up 90% at $27.66 -- and fresh off a record high of $30.23. Providing a lift to the stock is another round of upbeat drug data.

 

​

One of the leading winners on the Big Board is Hovnanian Enterprises, Inc. (NYSE:HOV), which has soared 18.4% to trade at $1.87. The shares are rising in concert with other homebuilders, thanks to the aforementioned housing data.

 

The CBOE Volatility Index (VIX) is up 0.6 point, or 4.5%, at 13.60.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.49, with puts outstripping calls. At last check, the SPY is off 0.5 point, or 0.3%, at $210.07.

 

It was another bittersweet day on the news front, with Wal-Mart Stores, Inc. (NYSE:WMT) and China providing the "bitter," and Home Depot Inc (NYSE:HD) and housing the "sweet." By the time the dust settled, though, the Dow Jones Industrial Average (DJIA) was modestly lower, as traders opted for caution ahead of tomorrow's closely watched Federal Open Market Committee (FOMC) meeting minutes. 

 

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

 

• Toll Brothers Inc (NYSE:TOL) was just one homebuilder hitting post-recession highs. Are these 4 peers ripe for even more upside? 
• Why Abercrombie & Fitch Co. (NYSE:ANF) sank to six-year lows while this fellow retailer notched new highs on Earnings Eve.  
• The biotech du jour that skyrocketed more than 70%.
• Plus ... BuzzFeed banks, Merkel makes a case, and Target settles with Visa. 

 

The Dow Jones Industrial Average (DJIA - 17,511.34) explored a relatively narrow range -- mostly south of breakeven -- settling with a loss of 33.8 points, or 0.2%. Thirteen of the Dow's 30 components ended higher, led by a post-earnings pop of 2.6% for HD. On the flip side, WMT paced the losing majority, surrendering 3.4% after plumbing post-earnings lows.

 

The S&P 500 Index (SPX - 2,096.92) ended 5.5 points, or 0.3%, lower, falling back beneath the 2,100 level.The Nasdaq Composite (COMP - 5,059.35) suffered the worst of its peers, giving back 32.4 points, or 0.6%, after running into a wall at its 20-day trendline.

 

The CBOE Volatility Index (VIX - 13.79) tacked on 0.8 point, or 5.9%, but upside was limited by its 40-day moving average.

 

 

 

5 Items on Our Radar Today:

 

1. Housing starts hit their fastest pace since October 2007 in July, according to the Commerce Department. Building permits, meanwhile, fell 16.3%. (MarketWatch) 
2. Popular site BuzzFeed just got a $200 million injection from NBCUniversal, owned by Comcast Corporation (NASDAQ:CMCSA). Separately, BuzzFeed said it's working with Yahoo! Inc. (NASDAQ:YHOO) to create a Japanese version of the site. (CNN Money​)
3. Why German Chancellor Angela Merkel is facing a rebellion ahead of a key vote.
4. Ahead of earnings, Target Corporation (NYSE:TGT) announced a settlement with Visa Inc (NYSE:V). 
5. Sunedison Inc (NYSE:SUNE), meanwhile, unveiled a new venture with Goldman Sachs Group Inc (NYSE:GS). 

 

 

 

 

Commodities:

 

Crude oil bounced back from a six-year low, as solid U.S. housing stats stoked expectations for demand. By the close, September-dated crude was up 75 cents, or 1.8%, at $42.62 per barrel.

 

A stronger dollar pushed December gold $1.50, or 0.1%, lower, to end at $1,116.90 per ounce. Elsewhere, a sell-off in Shanghai sparked concerns about copper demand in China, pushing the September contract to a six-year low of $2.287 a pound.

Futures on the Dow Jones Industrial Average (DJIA) are tumbling, as anxiety sets in ahead of this afternoon's release of the minutes from the latest Federal Open Market Committee (FOMC) meeting. Traders will be going over the minutes with a fine-toothed comb, looking for any hints as to whether a September rate hike is in the cards. Additionally, investors will be keeping a close eye on the volatile market action in China, amid speculation the global uncertainty could impact the timing of the Fed's interest rate lift-off.

 

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

 

• Schaeffer's Senior Quantitative Analyst Rocky White takes a look at what the Fed minutes could mean for the S&P 500 Index (SPX).
• The FDA decision that sent this drugmaker jumping more than 10%.
• Ready to trade Donald Trump futures? Schaeffer's contributor Adam Warner investigates a new wagering platform.
• 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 61 points below fair value.

 

5 Things You Need to Know Today

 

1. Bargain hunters helped boost the Shanghai Composite to a win, while European markets aren't responding well to Germany's Greek bailout vote.
2. Ahead of today's options expiration, the CBOE Volatility Index (VIX) popped 5.9% Tuesday, but ran out of steam near the 14 mark -- home to its 40-day moving average. Looking ahead to the September series, peak call open interest of 294,780 contracts is located at the 20 strike, while peak put open interest of 162,033 contracts resides at the 14 strike.
3. Following last week's shocking move by the People's Bank of China (PBOC), both Vietnam and Kazakhstan devalued their currencies. The dong dropped 1.2% today -- widening its month-to-date deficit to 2.4% -- while the tenge fell 4.4%, its largest one-day decline since February 2014.
4. Unlike its sector peer Home Depot Inc (NYSE:HD), Lowe's Companies, Inc. (NYSE:LOW) is pointed south following the firm's turn in the earnings confessional. While LOW beat on the top line, it fell short on the bottom line. Ahead of the bell, the stock is down 1.3% -- a much more modest move than what options traders were pricing in.
5. It's been a big week on the M&A front -- with news from both the retail and the financial sectors snagging the Street's attention. Today, data storage specialist Seagate Technology PLC (NASDAQ:STX) said it will purchase Dot Hill Systems Corp. (NASDAQ:HILL) in an all-cash deal valued at roughly $694 million, or $9.75 per share. After closing last night at $5.18, shares of HILL are up 87.3% in electronic trading. STX, meanwhile, has edged up 0.9%.

 

 

Market Statistics

 

• Target Corporation (NYSE:TGT), Omeros Corporation (NASDAQ:OMER), and LOW were among the equities with unusual call and put activity on Tuesday. For the entire list, read Unusual Options Activity: AEO, TGT, LOW, LEN, and OMER.
• The Chicago Board Options Exchange (CBOE) saw 576,344 call contracts traded on Tuesday -- the fewest in a full session since July 3, 2013 -- compared to 378,749 put contracts. The resultant single-session equity put/call ratio fell to 0.66, while the 21-day moving average remained at 0.72.
• For info on currencies, commodities, trading volume, market breadth, and more, read Stock Market Stats for August 18, 2015.

 

Earnings and Economic Data

 

The consumer price index (CPI) and core CPI, as well as the weekly crude inventories report are slated for release today. Most notably, though, the FOMC will release the minutes from its July meeting.  Additionally, retail earnings continue to roll in, with American Eagle (AEO), L Brands (LB), LOW, Staples (SPLS), and Target (TGT) set to report. Other companies reporting include Youku Tudou (YOKU), Eaton Vance (EV), Hormel Foods (HRL), ARC Group (ARCW), Momo (MOMO), NetApp (NTAP), Popeyes Louisiana Kitchen (PLKI),  and Synopsis (SNPS). Caterpillar (CAT), meanwhile, will hold a teleconference with investors and analysts. To see what else is on this week's docket, click here.

The Dow Jones Industrial Average (DJIA) is getting shelled ahead of this afternoon's Fed meeting minutes, down triple digits -- though the event could be a boon a little down the road. Also pressuring U.S. equities lower was some rough action overseas, and a brutal morning for crude oil, which hit another six-year low on a surprise pop in inventories. On the economic front, consumer prices rose for a sixth consecutive month -- though by less than expected -- despite a surge in housing costs. Meanwhile, the Nasdaq Composite (COMP) is testing the 5,000 millennium level, the broader S&P 500 Index (SPX) is drifting further below 2,100, and the Russell 2000 Index (RUT) is about to breach key support.

 

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

 

• A number of catalysts have sent this solar stock into free-fall.
• Are hedge funds all they're cracked up to be? Schaeffer's contributor Adam Warner takes a look.
• 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 Target Corporation (NYSE:TGT), where calls are running at eight times the usual midday clip. The shares gapped up at the open on strong earnings and an upbeat full-year profit outlook, but are currently 0.9% lower at $79.60. Short-term options traders anticipate TGT will resume its rally, buying to open the weekly 9/4 85-strike call.

 

One of the biggest decliners on the Nasdaq is Web.com Group Inc (NASDAQ:WWWW), which has plunged almost 11% to trade at $21.18. Pressuring shares of the domain name registry are a recent data breach and some negative analyst attention.

​

The top gainer on the Big Board is Arch Coal Inc (NYSE:ACI), on reports the commodity concern is looking to compromise with lenders opposed to a debt-swap -- which could allow ACI to avoid bankruptcy. At last check, the stock has jumped 41.3% to hover near $2.08, but is still 88% lower year-to-date.

 

The CBOE Volatility Index (VIX) is up 2.2 points, or 15.7%, at 15.95.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.14, with puts more than doubling calls. At last check, SPY is down 2.3 points, or 1.1%, at $207.63.

Despite a valiant attempt to claw its way into the black, the Dow Jones Industrial Average (DJIA) ended in the red -- though well off its intraday low. The blue-chip barometer was down roughly 230 points at one point -- pressured by a global stock rout and crude oil's demise -- but pared its losses after the premature release of the Federal Open Market Committee (FOMC) July meeting minutes. The report showed that most central bankers think the environment suitable to a rate hike -- the first in almost a decade -- is "approaching," underscoring expectations for a September lift. Against this backdrop, other major indexes trimmed their deficits by the close, and if history is any guide, the S&P 500 Index (SPX) could be volatile tomorrow.

 

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

 

• Ashley Madison wasn't the only site battling a high-profile hack. 
• The FDA has been busy -- and not just with "female Viagra."  
• Are more losses in store for these 3 energy stocks? And why did Eldorado Gold Corp (USA) (NYSE:EGO) sit out the gold rally?
• Plus ... The Fed's latest "oops," July inflation data, and why Google flew in the face of broad-market headwinds. 

 

The Dow Jones Industrial Average (DJIA - 17,348.73) was down about 229 points at its intraday low, and peeked above breakeven after the Fed release, but settled on a loss of 162.6 points, or 0.9%. Just three Dow components avoided the red -- McDonald's Corporation (NYSE:MCD) added 0.3%, Nike Inc (NYSE:NKE) edged 0.1% higher, and Merck & Co., Inc. (NYSE:MRK) finished flat. Oil issue Chevron Corporation (NYSE:CVX) paced the losing majority with a 3% drop.

 

The S&P 500 Index (SPX - 2,079.61) also inched closer to breakeven in post-Fed action, but couldn't break into the black, ending 17.3 points, or 0.8%, lower. The Nasdaq Composite (COMP - 5,019.05) dipped beneath the key 5,000 level around midday -- and spent a minute in positive territory after the Fed minutes -- before ending on a loss of 40.3 points, or 0.8%.

 

The CBOE Volatility Index (VIX - 15.25) pared its lead after the Fed release, but added 1.5 points, or 10.6%, by the close -- marking its highest settlement and first close above its 200-day trendline since July 27.

 

 

 

5 Items on Our Radar Today:

 

1. The Fed's highly anticipated meeting minutes were released around 1:45 p.m. ET (15 minutes early), after Bloomberg inadvertently broke the embargo. Last month, the central bank accidentally published confidential staff forecasts, usually withheld five years.  (MarketWatch) 
2. Consumer prices rose by less than expected in July, but still edged higher for a sixth straight month. The Labor Department's consumer price index (CPI) and core CPI -- which excludes volatile food and energy -- both ticked 0.1% higher. (Reuters​)
3. This solar name was one of the biggest SPX-listed losers of the day.
4. Why GoPro Inc (NASDAQ:GPRO) bears were out in full force.
5. What helped Google Inc (NASDAQ:GOOGL) buck the trend lower.

 

 

 

Commodities:

 

Crude oil plummeted to a new six-year low, due to a surprise increase in domestic inventories. By the close, September-dated oil -- which expires tomorrow -- was down $1.82, or 4.3%, at $40.80 per barrel, marking its lowest settlement since March 2009.

 

On the other hand, the stars aligned for gold today. A cooling dollar and a stock sell-off helped December-dated gold to a gain of $11, or 1%, to finish at $1,127.90 an ounce. What's more, gold extended its lead in after-hours trading, following the Fed minutes. 

The Dow Jones Industrial Average (DJIA) is bracing for a third straight day of losses, as a steep sell-off in global markets and an ongoing rout in crude oil weigh on investor sentiment. Additionally, traders will carefully weigh the latest economic reports -- which include weekly jobless claims and existing home sales -- after Wednesday's Fed minutes failed to give a clear indication on the possibility of a September rate hike. Against this unstable backdrop, futures on the blue-chip barometer are down triple digits at last check.

 

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

 

• Canadian Solar Inc.'s (NASDAQ:CSIQ) post-earnings beating shook the solar sector -- and put First Solar, Inc. (NASDAQ:FSLR) in the bearish crosshairs.
• GoPro Inc's (NASDAQ:GPRO) down day had eleventh-hour option traders targeting this critical level.
• A $675 million buyout bid sent one tech issue skyrocketing.
• 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 nearly 133 points below fair value.

 

5 Things You Need to Know Today

 

1. Asian markets plunged, after the International Monetary Fund (IMF) took a pass on the yuan.
2. The CBOE Volatility Index (VIX) jumped 10.6% yesterday to settle north of 15 -- and its 200-day moving average -- for the first time since July 27. In the options pits, it looks as if one speculator sold 22,600 September 16 straddles to fund the purchase of a same-sized lot of September 24 calls.
3. Valeant Pharmaceuticals Intl Inc (NYSE:VRX) has agreed to buy privately owned Sprout Pharmaceuticals -- maker of the recently approved "female Viagra" -- for roughly $1 billion plus milestone payments. This is the latest high-profile M&A move for VRX this year, and the shares are up 0.4% in electronic trading.
4. Just one day after announcing it is dipping its toes in the renewable energy field, Goldman Sachs Group Inc (NYSE:GS) could be teaming up with a number of its fellow financial firms to construct a data-referencing company, according to a Wall Street Journal report. The initiative -- which has GS partnering with JPMorgan Chase & Co. (NYSE:JPM) and Morgan Stanley (NYSE:MS) -- will help to cut costs at each firm.
5. Kazakhstan -- which yesterday devalued its currency -- today abandoned its fixed exchange rate, moving instead to a free float system. The switch prompted a 23% plunge in the tenge.

 

 

Market Statistics

 

• Exxon Mobil Corporation (NYSE:XOM), Rayonier Advanced Materials Inc (NYSE:RYAM), and Qihoo 360 Technology Co Ltd (NYSE:QIHU) were among the equities with unusual call and put activity on Wednesday. For the entire list, read Unusual Options Activity: HPQ, XOM, RYAM, and QIHU.
• The Chicago Board Options Exchange (CBOE) saw 707,568 call contracts traded on Wednesday, compared to 573,359 put contracts. The resultant single-session equity put/call ratio jumped to 0.81, while the 21-day moving average edged up to 0.73.
• For info on currencies, commodities, trading volume, market breadth, and more, read Stock Market Stats for August 19, 2015.

 

Earnings and Economic Data

 

Weekly jobless claims, existing home sales, the Philadelphia Fed business outlook survey, and the Conference Board's index of leading economic indicators make up today's economic calendar. Additionally, speaking in Jakarta earlier, San Francisco Fed President John Williams said a "reduction in house prices comes at significant costs in terms of reductions in real gross domestic product and inflation."

Stepping into the earnings fray are Hewlett-Packard (HPQ), Marvell Technology Group (MRVL), Cyberonics (CYBX), JinkoSolar Holding (JKS), Intuit (INTU), Madison Square Garden (MSG), Mentor Graphics (MENT), and Salesforce.com (CRM). Meanwhile, retail earnings continue with Bon-Ton Stores (BONT), Buckle (BKE), Kirklands (KIRK), Perry Ellis (PERY), Sears Holding (SHLD), Stage Stores (SSI), Stein Mart (SMRT), Gap (GPS), New York & Co (NWY), Ross Stores (ROST), The Fresh Market (TFM), and Tuesday Morning (TUES) reporting. To see what's on tomorrow's docket, click here.

The Dow Jones Industrial Average (DJIA) is staring at the prospect of a second straight triple-digit loss -- not to mention its lowest close of the year -- as crude oil pans fresh six-year lows, China's rout accelerates, and Fed speculation continues. Leading the bellwether south is blue chip Walt Disney Co (NYSE:DIS), down nearly 5% on bearish brokerage attention. Elsewhere, the Nasdaq Composite (COMP) has dropped firmly below the 5,000 millennium mark, which hasn't been breached on a daily closing basis since July 10.

Meanwhile, it's been a busy day on the economic front, with existing home sales hitting an eight-year high and Philadelphia manufacturing activity topping expectations. However, weekly jobless claims came in above projections, and the Conference Board's index of leading economic indicators surprisingly dipped.

 

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

 

• Despite being in the M&A spotlight, these 2 drugmakers are getting roughed up.
• While crude stocks tank, gold is picking up steam.
• 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 NetApp Inc. (NASDAQ:NTAP), with the contracts running at six times the normal intraday pace. The data storage issue is up 4.6% at $31.18, thanks to the company's strong showing in the earnings confessional and a subsequent series of price-target hikes. NTAP's most active option is the weekly 8/28 30-strike put, which appears to be seeing sell-to-open activity.

 

One of the notable losers on the Nasdaq is Micron Technology, Inc. (NASDAQ:MU), down 5.2% at $15.08 -- and fresh off an annual low of $14.88. Weighing on shares of the chipmaker is yet another round of bearish brokerage attention.

 

One of the top gainers on the Big Board is Lumber Liquidators Holdings Inc (NYSE:LL), thanks to a bullish nod from Cantor Fitzgerald. At last check, shares of the flooring firm have soared over 11% to trade at $15.78, and test their 20-day moving average.

 

 

The CBOE Volatility Index (VIX) is up 1.9 points, or 12.7%, at 17.18.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.13, with puts more than doubling calls -- and running at twice the normal intraday pace. SPY was last seen down 2.5 points, or 1.2%, at $205.84.

 

The Dow Jones Industrial Average (DJIA) plummeted out of the gate and never looked back. A continued slump for energy and another down day around the globe -- not to mention an extended rate-hike-timing debate -- pushed stocks lower, with seemingly no sector left unscathed. Media stocks and technology fared the worst, though, with the tech-heavy Nasdaq Composite (COMP) taking the biggest beating among major market indexes. By the time the closing bell mercifully rang, the COMP was sitting south of its 200-day moving average and the round-number 5,000 level, while the Dow was at a 2015 closing low.

 

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

 

• Is the "death cross" an omen ... or an opportunity? We crunch the numbers on Apple Inc. (NASDAQ:AAPL) and 4 more blue chips on the verge of a signal. 
• While Twitter Inc (NYSE:TWTR) explored sub-IPO territory, puts could provide short-term support for this social peer.  
• How bears played this Greek bank after a political shake-up.
• Plus ... Encouraging housing data, a somber note from a former president, and how to protect your portfolio with options "insurance." 

 

The Dow Jones Industrial Average (DJIA - 16,990.69) ended at a session -- and year-to-date -- low, down 358 points, or 2.1%. It was the Dow's first finish south of 17,000 since late October. Not one of the Dow's 30 components eked out a win, with Walt Disney Co (NYSE:DIS) leading a media-sector swoon, down more than 6%. 

 

The S&P 500 Index (SPX - 2,035.73) settled at its lowest close since early February -- and breached its 200-day trendline in the process -- giving up nearly 44 points, or 2.1%. The SPX is now in the red for 2015, down 1.1%. In its worst session in more than a year, the Nasdaq Composite (COMP - 4,877.49) ended at its lowest point since late March, dropping 141.6 points, or 2.8%.

 

The CBOE Volatility Index (VIX - 19.14) skyrocketed to a new one-month high, surging 3.9 points, or 25.5%. The "fear gauge" has advanced close to 58% in August.

 

 

 

5 Items on Our Radar Today:

 

1. Jobless claims rose for a fourth straight week, to the highest level in more than a month. Meanwhile, the Street shrugged off another upbeat round of housing stats, with existing home sales rising to an eight-year peak in July. (MarketWatch) 
2. Former President Jimmy Carter, 90, said his fate is "in the hands of God" now, admitting that cancer has spread to his brain. (Reuters​)
3. How this toymaker bucked the bearish bias today.
4. Worried about your portfolio? Try hedging with put options. 
5. 3 energy stocks that could be staring at more downside.

 

 

 

Commodities:

 

After hitting another six-year low in early trading, crude turned higher as Hurricane Danny -- the first of 2015 -- approached, lifting expectations for demand. October-dated crude -- now the front-month contract -- ended a nickel higher at $41.32 per barrel.

 

Gold surged to a five-week high, capitalizing on post-Fed momentum. By the close, December-dated gold added $25.30, or 2.2%, to sit at $1,153.20 an ounce.