The Dow Jones Industrial Average (DJIA) is on track for another triple-digit loss, as China's second currency move in as many days is shaking investor confidence and sparking fears of a currency war. While Beijing did step in to stop the yuan's free-fall against the dollar, it's done little to stop the bleeding stateside, with the broader S&P 500 Index (SPX) struggling to stay in the black year-to-date.

Elsewhere, oil is on the mend after an encouraging demand forecast from the International Energy Agency and word that stockpiles fell for the third straight week, while job openings dipped more than expected in June. On a related note, New York Fed President William Dudley spoke to the central bank's role in the labor market, noting, "Monetary policy can help labor markets recover by providing incentives for firms to invest and grow (but it) cannot by itself solve skill mismatches that may exist in the economy."

 

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

 

• How speculators are paying up to ease their nerves, per Schaeffer's contributor Adam Warner.
• The China-based e-tailer -- and its newest partner -- swimming in red ink.
• 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 lighting expert Cree, Inc. (NASDAQ:CREE), with the contracts running at seven times the intraday norm. Digging deeper, buy-to-open activity may be transpiring at the weekly 8/14 26-strike call, which is CREE's most active option by far. At last check, the stock was up 5% at $26.47, but not before touching a three-year, post-earnings low of $23.36.

 

One of the top gainers on the Nasdaq is healthcare concern Myriad Genetics, Inc. (NASDAQ:MYGN), despite a guidance-induced round of negative analyst attention. At last check, the stock was up 7.8% at $33.51, attempting to climb into positive year-to-date territory.

 

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One of the leading advancers on the Big Board is home furnishings specialist Wayfair Inc (NYSE:W), which has rocketed 21% higher to $46.19 -- and to a record peak of $48.47. Boosting the shares are better-than-expected second-quarter results.

 

The CBOE Volatility Index (VIX) is up 1.9 points, or 13.8%, at 15.60.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.76, with puts nearly tripling calls, and running at twice the average intraday clip. At last check, the SPY was down 3 points, or 1.4%, at $205.71.

What looked like another tough day for the Dow Jones Industrial Average (DJIA)​ -- due to another currency decision out of China -- took an unexpected turn. The blue-chip index was down more than 275 points at its session low, but staged a severe comeback in the second half of trading. What's more, the S&P 500 Index (SPX) and Nasdaq Composite (COMP) fared even better. The recovery was driven by the energy sector, as crude bounced from six-year lows, as well as chatter that the yuan devaluation could stall a Fed rate hike. On the data front, the Labor Department's Job Openings and Labor Turnover Survey (JOLTS) for June indicated that job openings fell, even as hiring picked up. Looking ahead, retail figures will be in focus tomorrow morning. 

 

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

 

• 7 stocks with notable Chinese exposure. 
• Which sentiment indicators hold the most weight, and which should be taken with a grain of salt? 
• With July retail figures due out tomorrow, 3 prominent retailers are also set to release earnings this week. Can they avoid the fate of Macy's, Inc. (NYSE:M)?
• Plus ... Obama speaks (writes), GoPro eyes a comeback, and a tech rivalry heats up. 

 

The Dow Jones Industrial Average (DJIA - 17,402.51) ended just short of breakeven on the heels of a major comeback, closing just 0.3 point lower. Seventeen of the 30 Dow components closed higher, led by Exxon Mobil Corporation's (NYSE:XOM) and Intel Corporation's (NASDAQ:INTC) 1.7% jumps. JPMorgan Chase & Co. (NYSE:JPM) was the biggest loser, giving back 1.5%, while Home Depot (NYSE:HD) finished flat. 

 

The S&P 500 Index (SPX - 2,086.05) managed to find its footing for a 2-point, or 0.1%, gain, avoiding negative year-to-date territory. The Nasdaq Composite (COMP - 5,044.39) followed suit, picking up 7.6 points, or 0.2%, after breaching 5,000 on an intraday basis. 

 

The CBOE Volatility Index (VIX - 13.61) gave back early gains to end 0.1 point, or 0.7%, lower, after getting as high as 16.28. 

 

 

 

 

5 Items on Our Radar Today:

 

1. President Obama today wrote a letter to the editor in The New York Times calling on Congress to restore the Voting Rights Act. The president was responding to a Times story that highlighted a history of efforts made to repeal the act. (The New York Times) 
2. The Treasury Department revealed a 58% increase in the government's budget deficit, compared to last July. The U.S. recorded a $149 billion deficit for July, outdoing economists' expectations of $132 billion. (Reuters) 
3. GoPro Inc (NASDAQ:GPRO) hit a rough patch -- but can it bounce back? 
4. Want more bad news? The Dow isn't the only index with a "death cross." 
5. Facebook Inc (NASDAQ:FB) and Twitter Inc (NYSE:TWTR) were always rivals, but one of the tech giants just took things to another level. 

 

 

 

 

Commodities:

 

Crude oil moved higher off its lowest close in six years, thanks to a better-than-expected demand forecast from the International Energy Agency. At the close, crude for September was up 22 cents, or 0.5%, at $43.30 per barrel. 

 

Once again, gold closed higher, marking the fifth day in row the precious metal has done so. Continued uncertainty surrounding global markets helped lift gold again. For December delivery, gold ended $15.90, or 1.4%, higher at $1,123.60 per ounce. 

After the Dow Jones Industrial Average's (DJIA) impressive comeback yesterday, futures are following overseas benchmarks higher, helped by an earnings beat from blue chip Cisco Systems, Inc. (NASDAQ:CSCO). Meanwhile, traders are gearing up for a busy day on the economic front, with jobless claims, retail sales, and other reports in focus.

 

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

 

• Should traders sweat yesterday's bearish signal on the Russell 2000 Index (RUT)?
• Why Facebook Inc (NASDAQ:FB) and Twitter Inc (NYSE:TWTR) may be on a collision course.
• The solar stock that took traders on a wild ride.
• 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 43 points above fair value.

 

5 Things You Need to Know Today

 

1. Stocks in China jumped as a high-ranking official went to bat for the nation's recent string of currency decisions.
2. The CBOE Volatility Index (VIX) popped out of the gate yesterday, but reversed lower to end on a small loss. Meanwhile, VIX option volume ran at nearly triple the expected amount, as one trader closed out a massive three-legged bullish spread at the August 16 and 18 call strikes and August 12.50 put strike.
3. Tesla Motors Inc (NASDAQ:TSLA), which recently slashed its full-year delivery forecast, announced plans to raise roughly $500 million by selling 2.1 million shares.
4. Blue chip CSCO's first earnings report under new CEO Chuck Robbins went well, with quarterly profit and sales numbers topping estimates -- sending the shares up 3.4% pre-market.
5. While IAC/InterActiveCorp's (NASDAQ:IACI) hook-up app Tinder has managed to avoid getting hacked (unlike one more controversial rival), CEO Christopher Payne is stepping down after only five months, to be replaced by founder Sean Rad.

 

 

 

Market Statistics

• Macy's, Inc. (NYSE:M), J C Penney Company Inc (NYSE:JCP), and Yahoo! Inc. (NASDAQ:YHOO) were among the equities with unusual call and put activity on Wednesday. For the entire list, read Unusual Options Activity: M, JCP, YHOO, INGN.
• The Chicago Board Options Exchange (CBOE) saw 887,955 call contracts traded on Wednesday, compared to 736,374 put contracts. The resultant single-session equity put/call ratio rose to 0.83, while the 21-day moving average inched up to 0.71.
• For info on currencies, commodities, trading volume, market breadth, and more, read Stock Market Stats for August 12, 2015.

 Earnings and Economic Data

 

Today's economic lineup features weekly jobless claims, retail sales, import and export prices, and business inventories. Advance Auto Parts, Inc. (AAP), Applied Materials, Inc. (AMAT), CafePress Inc (PRSS), El Pollo LoCo Holdings Inc (LOCO), Kohl's Corporation (KSS), Nordstrom, Inc. (JWN), Pan American Silver (PAAS), Tribune Media Co. (TRCO), and YY Inc (YY) will announce quarterly earnings. To see what else is on this week's docket, click here.

After 17 straight days of triple-digit trading ranges, the Dow Jones Industrial Average (DJIA) may be on the verge of snapping that streak. The blue-chip barometer has traded on both sides of breakeven -- but in a span of less than 90 points -- as traders weigh encouraging big-cap earnings and a global stock rally against tumbling crude and gold prices. In addition, Wall Street is digesting a bigger-than-expected uptick in weekly jobless claims, which is fueling more rate-hike-timing chatter.

 

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

 

• 3 stocks that could be ripe for a short squeeze, and the drug stock that's up 75% in August.
• The indicator suggesting fear hasn't been this palpable in years.
• 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 China-based e-commerce concern Alibaba Group Holding Ltd (NYSE:BABA). After sinking to an all-time low of $71.03 on yesterday's earnings miss, oversold BABA is on the mend -- up 2.4% at $75.14, despite another round of negative analyst notes. BABA options are trading at 1.6 times the average intraday clip, with some traders seemingly buying to open weekly 8/14 75-strike calls. These contracts will move deeper into the money the higher the stock rebounds north of $75 through tomorrow's close, when the contracts expire.

 

One of the top gainers on the Nasdaq is biotech Ocular Therapeutix Inc (NASDAQ:OCUL). After exploring year-to-date lows yesterday, the security has surged 20.6% to trade at $21.71, after Morgan Stanley initiated coverage with an "overweight" rating and a $24 price target. The stock is now on pace to end atop its 10-day moving average for the first time since July 23.

 

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One of the top losers on the Big Board is restaurant chain Shake Shack Inc (NYSE:SHAK), which has surrendered 8.6% to sit at $59.19. The company priced a secondary offering at $60 per share -- south of yesterday's close at $64.79.

 

The CBOE Volatility Index (VIX) is down 0.3 point, or 1.8%, at 13.36.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.42, with puts outpacing calls. At last check, the SPY was down 0.2 point, or 0.1%, at $208.76.

The Dow Jones Industrial Average (DJIA) struggled for direction today, as traders weighed strong blue-chip earnings and cooling yuan concerns against a sell-off in energy. Specifically, crude oil fell to its lowest close since 2009, pressured by a strengthening dollar. In addition, speculators digested the latest economic data -- including a rise in both weekly jobless claims and monthly retail sales -- and the inevitable round of subsequent rate-hike speculation. 

 

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

 

• How to trade this key SDPR S&P 500 ETF Trust (SPY) trendline, courtesy of Schaeffer's contributor Adam Warner.
• Shake Shack Inc (NYSE:SHAK) and Tesla Motors Inc (NASDAQ:TSLA) received starkly different reactions to their stock offerings. 
• Is now the time to scoop up these 3 financial stocks? 
• Plus ... Big Bird's on the move, the coffee stock getting destroyed, and 3 stocks possibly on the verge of a big move.

 

The Dow Jones Industrial Average (DJIA - 17,408.25) traded in a triple-digit range for the 18th straight session, but ultimately landed 5.7 points, or 0.03%, higher. Just 10 of the Dow's 30 components closed higher, with Cisco Systems, Inc.'s (NASDAQ:CSCO) 2.9% post-earnings gain leading the way. Intel Corporation's (NASDAQ:INTC) 2% loss paced the losers.

 

The S&P 500 Index (SPX - 2,083.39) wasn't able to turn positive, closing 2.7 points, or 0.1%, lower. The Nasdaq Composite (COMP - 5,033.56) also ended a seesaw session in the red, giving back 10.8 points, or 0.2%. 

 

The CBOE Volatility Index (VIX - 13.49) settled 0.1 point, or 0.9%, lower, but remained above its 10- and 20-day moving averages. 

 

 

 

 

5 Items on Our Radar Today:

 

1. At least 50 people are dead after a pair of giant explosions in China yesterday. The incident occurred when a chemical plant caught fire, thought no one is sure what caused the blasts.  (Reuters) 
2. "Sesame Street" has signed a deal with HBO that gives the cable network -- owned by Time Warner Inc (NYSE:TWX) -- the exclusive rights to the TV series' new episodes. After a nine-month waiting period, though, the episodes will air on PBS, where they've aired for years. (​The New York Times​) 
3. The coffee concern that has plummeted nearly 70% since November. 
4. Traders were not amused by the reports of this smartphone maker's new partnership. 
5. These 3 popular stocks could be on the verge of a short-covering rally. 

 

Commodities:

 

A strengthening dollar and ongoing supply concerns pushed crude lower. By the close, oil for September slid $1.07, or 2.5%, to $42.23 per barrel -- its lowest close in more than six years. 

 

In similar fashion, gold moved lower as the greenback gained ground, and after the World Gold Council said demand hit a six-year low in the second quarter. Gold for December delivery settled $8, or 0.7%, lower at $1,115.60 per ounce, snapping its five-session winning streak.

After fighting to keep its head above water yesterday, the Dow Jones Industrial Average (DJIA) is headed south ahead of the bell -- and at risk of erasing its weekly gains. Currently, traders are digesting an earnings beat from J C Penney Company Inc (NYSE:JCP), and looking ahead to a number of economic reports, including the latest consumer sentiment data. In fact, the producer price index (PPI) just hit the Street, revealing wholesale inflation rose for a third straight month. Overseas, Greece's parliament approved a third bailout pact with international lenders, putting the onus on a group of eurozone finance ministers -- gathered today in Brussels -- to rubber-stamp the deal.

 

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

 

• Following a tough session on Wednesday, find out the catalyst that helped GoPro Inc (NASDAQ:GPRO) bounce back yesterday.
• Want to get paid to buy stocks? Consider this options strategy.
• Why Transocean LTD (NYSE:RIG) and Keryx Biopharmaceuticals (NASDAQ:KERX) dropped 6% yesterday.
• 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 roughly 27 points below fair value.

 

5 Things You Need to Know Today

 

1. Chinese stocks closed with a modest gain as the yuan stabilized, while markets in Europe are lower after a round of unimpressive growth data.
2. The CBOE Volatility Index (VIX) gave up a little ground yesterday, but found a foothold atop its 10- and 20-day moving averages. Call volume roughly tripled put volume, with the day's biggest trades taking place at the deep out-of-the-money September 25 and 30 calls. 
3. After announcing a $500 million stock offering yesterday, Tesla Motors Inc (NASDAQ:TSLA) said today it has raised the total to $642.5 million, which will help the company expand its auto and energy storage businesses.
4. General Motors Company (NYSE:GM) recently took a China-related hit, and more downside could be in store, after the automaker announced a recall of more than 73,000 Chevy Cobalts in the U.S. and Canada.
   
5. Days after General Electric Company (NYSE:GE) sold its healthcare financial services unit, subsidiary GE Capital announced the sale of its U.S. online deposits business to Goldman Sachs Group Inc (NYSE:GS).

 

 

 

Market Statistics

 

• Nordstrom, Inc. (NYSE:JWN), Cisco Systems, Inc. (NASDAQ:CSCO), and Foot Locker, Inc. (NYSE:FL) were among the equities with unusual call and put activity on Thursday. For the entire list, read Unusual Options Activity: SEDG, JWN, CSCO, and FL.
• The Chicago Board Options Exchange (CBOE) saw 640,879 call contracts traded on Thursday, compared to 473,653 put contracts. The resultant single-session equity put/call ratio dropped to 0.74, 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 13, 2015.

 

Earnings and Economic Data

 

Rounding out the week are industrial production and capacity utilization stats, and the Thomson Reuters/University of Michigan consumer sentiment index. In addition, Secretary of State John Kerry is expected to make a historic trip to Havana, Cuba, to raise the flag over the U.S. embassy. No notable earnings are on tap.

It's been a choppy morning for the Dow Jones Industrial Average (DJIA), which has been seen on both sides of breakeven. At last check, the blue-chip barometer was struggling to hold on to earlier gains -- as well as its weekly advance. In spite of this push-and-pull action, though, the DJIA has only explored a 67-point path -- and could be on track to break its impressive triple-digit trading streak.

Traders have been digesting the latest round of economic reports -- not to mention relatively lackluster gross domestic product (GDP) readings from overseas -- which includes increases in the producer price index and industrial production, as well as a slight drop in consumer sentiment. Elsewhere, crude oil appears to have stabilized after hitting a more than six-year low earlier, with the September-dated contract up 0.1% at $42.28 per barrel.

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

 

• Is the Dow on track for its most volatile year since the recession?
• What's sending this retailer soaring, and this semiconductor stock tumbling to 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 call volume is WuXi PharmaTech (Cayman) Inc. (ADR) (NYSE:WX), with the contracts changing hands at 15 times the average intraday pace. The pharmaceutical firm has popped 5.4% to trade at $43.55, on reports of a $3.3 billion merger, and option bulls appear to be selling to close their now in-the-money August 40 calls ahead of next Friday's expiration.

 

One of the top gainers on the Big Board is Nordstrom, Inc. (NYSE:JWN), which is up 5.9% at $79.38 post-earnings -- more than the options market was expecting. Unlike fellow retailer Macy's, Inc. (NYSE:M), JWN's second-quarter earnings beat analysts' estimates -- news that was met with price-target hikes at Baird (to $82) and J.P. Morgan Securities (to $87).

 

One of the biggest losers on the Nasdaq is El Pollo Loco Holdings Inc (NASDAQ:LOCO), with the shares down 18.3% at $15.01 -- and fresh off a record low of $14.62. The fast-food firm last night reported lower-than-expected second-quarter revenue and projected dreary full-year same-store sales, and today's sell-off has LOCO on track for its worst day ever.

 

The CBOE Volatility Index (VIX) is down 0.03 point, or 0.2%, at 13.46.

 

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 is up 0.2 point, or 0.1%, at $208.88.

The Dow Jones Industrial Average (DJIA) ended its staggering run of triple-digit ranges -- albeit barely -- even as stocks enjoyed an eleventh-hour push on word of a Greek bailout deal. Specifically, the European Commission confirmed an 86-billion-euro, three-year loan to Greece. With the gains, the Dow closed the week comfortably higher, and even oil bounced from a six-year low. Looking ahead, Wall Street next week will pore over the latest Fed meeting minutes for rate-hike-timing clues, while blue chips Wal-Mart Stores, Inc. (NYSE:WMT) and Home Depot Inc (NYSE:HD) will headline a plethora of retail names reporting.

 

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

 

• Why these 3 biotechs exploded for insane gains while this rival took a nosedive. 
• How Shake Shack Inc (NYSE:SHAK) traders played brand-new options, and why this sector peer landed on the short-sale restricted list. 
• Has Wall Street been ignoring a "massive opportunity" in this sector? One CEO thinks so. 
• Plus ... The Stars and Stripes in Cuba, factory production ramps up, and Elon Musk ups the ante. 

 

The Dow Jones Industrial Average (DJIA - 17,477.40) spent most of the day dancing right above breakeven, but ended 69.2 points, or 0.4%, higher after a late-day swell. Of the 30 Dow components, 24 closed higher, with DuPont (NYSE:DD) leading the way with a 1.6% gain. Verizon Communications Inc. (NYSE:VZ) and Exxon Mobil Corporation (NYSE:XOM) paced the losers, each dropping 0.4%. The DJIA ended the week 0.6% higher. 

 

The S&P 500 Index (SPX - 2,091.54) also managed a modest gain, picking up 8.2 points, or 0.4%, to end near a session high. The Nasdaq Composite (COMP - 5,048.24) clawed its way out of the red in afternoon trading, ending 14.7 points, or 0.3%, higher. The SPX closed the week with a 0.7% lead, while the COMP added 0.1%. 

 

The CBOE Volatility Index (VIX - 12.83) dropped 0.7 point, or 4.9%, to near a session low, settling just below its 10- and 20-day moving averages. The "fear gauge" lost 4.2% on the week. 

 

 

 

 

5 Items on Our Radar Today:

 

1. For the first time in 54 years, a U.S. embassy is open in Cuba. The three Marines who took down the flag when the last embassy closed in 1961 were on hand for the ceremony, during which Secretary of State John Kerry said, "The time has come for us to move in a more promising direction," and called for "a genuine democracy" in Cuba. (The Washington Post) 
2. Industrial production for July beat out economists' expectations, thanks to particularly strong numbers from the auto market. Overall, factory production's month-over-month advance was its largest since November. (​Bloomberg​)
3. Disappointing earnings sunk this chipmaker to new lows. 
4. Tesla Motors Inc (NASDAQ:TSLA) unveiled a $500 million stock offering on Thursday -- but apparently that wasn't enough. 
5. Schaeffer's contributor Adam Warner discusses why the recent insider trading bust was quite interesting. 

 

 

 

 

Commodities:

 

Crude oil fought back from its lowest close in six years, on news the U.S. will soon sell crude to Mexico. For September delivery, crude added 27 cents, or 0.6%, to settle at $42.50 per barrel. Crude oil ended the week 3.1% lower, marking its seventh straight weekly drop. 

 

Conversely, gold took a hit as the U.S. dollar strengthened. Gold for December slipped $2.90, or 0.3%, closing at $1,112.70 an ounce. The precious metal still managed to close the week 1.6% higher, however, marking its best week in almost two months.

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.