Dow Jones Industrial Average (DJI) futures are pointed sharply lower this morning, after Wednesday's Fed announcement sparked concern over a slowing global economy. U.S.-China trade uncertainty is also keeping markets on edge, after President Donald Trump said yesterday tariffs on Chinese goods could remain in place for a "substantial period of time." Elsewhere, oil prices are booming, with April-dated crude futures up 1.9% at $60.12 per barrel. 

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

• 2 pharma stocks flashing buy.
• Short seller: This stock is "running on fumes."
• This biotech stock just won its 10th straight.
• Plus, another bull note for Apple; Micron hot after earnings beat; and Biogen sinks after pulling Alzheimer's drug.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.03 million call contracts traded on Wednesday, compared to 604,610 put contracts. The single-session equity put/call ratio stayed at 0.58, and the 21-day moving average remained at 0.62.
2. Apple Inc. (NASDAQ:AAPL) stock is up 1.2% in electronic trading, after Needham upgraded the FAANG name to "strong buy" from "buy" while boosting its price target to $225 from $180. The new target is just below AAPL's Oct. 3 record high of $233.47. Wedbush also lifted its AAPL price target to $215 from $200. Apple stock is no stranger to bullish analyst attention lately, and has turned in only one daily loss in the past nine sessions.
3. Micron Technology, Inc. (NASDAQ:MU) stock is up 3.6% ahead of the bell, after the chipmaker's fiscal second-quarter earnings and revenue beat analyst estimates. Analysts have already chimed in, with three brokerages boosting their price targets, including J.P. Morgan Securities to $64 from $55. However, Citigroup downgraded Micron stock to "sell" from "neutral," despite its 26.4% year-to-date gain. 
4. Shares of Biogen Inc (NASDAQ:BIIB) are down a whopping 27% in electronic trading, after the drugmaker discontinued late-stage trials of its Alzheimer's treatment. Biogen stock had been churning in the $300-$345 range for most of the year, but now is in danger of opening at its lowest level since mid-2016. 

5. Jobless claims, the Philadelphia Fed business outlook survey, and the Fed balance sheet make up the economic calendar today. Earnings releases out of Nike (NKE) and Canadian Solar (CSIQ) are also due.

Europe Stocks Mixed After BoE Decision

Wednesday’s Fed decision out of the U.S. helped prop up Chinese stocks over night. By the close, the Shanghai Composite was sporting a 0.4% lead. Hong Kong’s Hang Seng, however, settled down 0.9% due to a slump in tech shares. South Korea’s Kospi closed up 0.4%, while Japan’s Nikkei was closed for holiday. 

Outside of central bank news from the U.S., traders in Europe today are considering the Bank of England’s (BoE) decision to stand pat on rates, as well. Against this backdrop, and amid the ongoing Brexit drama, stocks were last seen mixed. The FTSE 100 in London is up 0.4%, with retail sales for the U.K. coming in above expectations for February. However, the French CAC 40 is down 0.4%, and Germany’s DAX is off 0.8%, as financial giants Deutsche Bank and Commerzbank sink due to questions surrounding a potential merger between the firms. 

Stocks are moving higher this afternoon, with Apple (AAPL) leading the Dow Jones Industrial Average (DJI) thanks to a shower of bull notes. In addition, the tech-heavy Nasdaq Composite (IXIC) and the S&P 500 Index (SPX) are higher, with Micron (MU) pacing a chip rally. Traders are also digesting newly released jobs data, with weekly jobless claims falling by more than expected last week. Against this backdrop, the major market indexes are on pace to bounce back from yesterday's dovish Fed news.

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

• Analyst: This stock's "puzzling" sell-off presents an opportunity for bulls.
• Olive Garden parent pops after earnings win. 
• Plus, one retailer's unusual post-earnings options surge; Biogen's big hit; and the food name at the top of the NYSE.

Retail giant Williams-Sonoma, Inc. (NYSE:WSM) is sporting unusual options volume today, with 3,000 calls and 8,600 puts across the tape so far -- seven times the usual volume. Most popular has been the April 57.50 put, where 5,500 contracts have exchanged hands. Today's surge in attention comes after the company's fourth-quarter profit beat, which has WSM shares up 3.1% at $58.67, at last check.

The bottom stock on the Nasdaq today by a long shot is pharmaceutical concern Biogen Inc (NASDAQ:BIIB), last seen down 27% at $233, after halting its late-stage trial for Alzheimer's drug aducanumab. BIIB earlier hit a more than two-year low of $226.61, and is now down 24% year-to-date. No fewer than four bearish analyst notes have been handed to the security, including a downgrade to "market perform" at William Blair, and a price-target cut to $257 from $400 at BofA-Merrill Lynch. 

Packaged foods name Conagra Brands Inc (NYSE:CAG) is at the top of the New York Stock Exchange (NYSE), after the company earlier reported an impressive fiscal third-quarter profit beat. The shares are now up 10.4% at $25.35, at last glance, set to mark CAG's highest close of 2019. CAG is now up 19% year-to-date, with today's success briefly pushing the shares back above the $26 mark for the first time since a post-earnings slide on Dec. 20.

The Dow bounced back after Wednesday's Fed-inspired drubbing, surging more than 200 points as Apple (AAPL) stock extended its red-hot price action. Tech sector strength was underscored by a positive earnings reaction for Micron (MU), which helped boost blue-chip semiconductor stock Intel (INTC) nearly 2% higher on the day. Against this backdrop, the S&P 500 and Nasdaq sailed to big wins, as well, with all three major market indexes heading into Friday sporting strong week-to-date gains.

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

• Caterpillar just flashed a reliable bull signal.
• Why this solar stock could be volatile tomorrow.
• This upgraded Apple supplier saw heavy options activity.
• Plus, Darden Restaurants pops post-earnings; a bruising day for Biogen; and Evercore targets major upside for PTE.

The Dow Jones Industrial Average (DJI - 25,962.51) was down 87 points at its session low, before swinging to a 216.8-point, or 0.8%, gain. Apple (AAPL) outpaced 26 Dow advancers with its 3.7% gain, while JPMorgan Chase (JPM) led the four decliners with its 1.6% drop.

The S&P 500 Index (SPX - 2,854.88) tacked on 30.7 points, or 1.1%, while the Nasdaq Composite (IXIC - 7,838.96) added 109.9 points, or 1.4%.

The Cboe Volatility Index (VIX - 13.63) shed 0.3 point, or 2%.

5 Items on our Radar Today

1. The Philadelphia Fed's six-month business outlook index for future activity slumped to a three-year low of 21.8 in March, pressured by lowered expectations for shipments and new orders. "Respondents continue to expect growth over the next six months, but most readings have been trending lower," the report noted. (Bloomberg)
2. Facebook today confirmed that it stored 200 million to 600 million user passwords to the social media site in plain text, going back to 2012. The data was accessible to Facebook employees, though the company said in a blog post it had "found no evidence to date that anyone internally abused or improperly accessed them." (CNBC)
3. Darden Restaurants stock cleared a key technical hurdle after earnings.
4. Behind Biogen stock's plunge to new lows.
5. Evercore set a lofty price target for PTE shares.

Data courtesy of Trade-Alert

Oil Dips Back Below $60 Per Barrel

Oil prices pulled back from yesterday's multi-month high, surrendering a short-term foothold above the key $60 per barrel mark. The new front-month May contract settled down 25 cents, or 0.4%, at $59.98 per barrel.

Gold gained today in reaction to a dovish Fed forecast. At the close, April-dated gold was up $5.60, or 0.4%, to settle at $1,307.30 an ounce.

Dow Jones Industrial Average (DJI) futures are sharply below fair value this morning, under pressure after retail giant Nike (NKE) reported weaker-than-expected North American sales for its fiscal third quarter. Plus, concerns about slowing global economic growth raised after the Fed meeting earlier this week are being exacerbated today after dismal manufacturing data out of the eurozone. Now, a weekly win for the blue-chip index could be in jeopardy, though the S&P 500 Index (SPX) is likely to just pare its impressive week-to-date gain.

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

• Wall Street is a fan of Ford's new CFO choice.
• How options traders doubled their money with YUM stock.
• Analyst: This healthcare stock could double.
• Plus, GameStop gets a new boss; Apple supplier gets a big upgrade; and holiday sales miss buries Tiffany stock.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.29 million call contracts traded on Thursday, compared to 658,201 put contracts. The single-session equity put/call ratio fell to 0.51, and the 21-day moving average remained at 0.62.
2. GameStop Corp. (NYSE:GME) stock is up 1% in electronic trading, after the video game retailer named George Sherman its new CEO, effective April 15. Loop Capital called the hire "impressive ... but no reason to get off the sidelines," while Jefferies trimmed its price target to $12 from $13. GME fell to a 14-year low of $10.35 yesterday.
3. Lumentum Holdings Inc (NASDAQ:LITE) stock is up 4.8% ahead of the bell, after J.P. Morgan Securities raised its rating on the Apple supplier to "overweight" from "neutral," while boosting its price target to $65 from $50. LITE has added 41% since its Nov. 12 bottom of $37, but the overhead 200-day moving average has emerged as a ceiling.  
4. Shares of Tiffany & Co. (NYSE:TIF) are down 3.9% in electronic trading, after the luxury retailer's fourth-quarter earnings beat estimates, but same-store sales and total revenue fell short of forecasts. Tiffany stock had added 37% from its Christmas Eve bottom near $73 through last night's close at $100.06, but now is in danger of surrendering a short-term foothold atop its 120-day moving average.

5. Rounding out the week will be Markit's flash composite purchasing managers index (PMI), existing home sales, the Treasury budget, and speeches from Atlanta Fed President Raphael Bostic and Chicago Fed President Charles Evans. The earnings schedule features Hibbett Sporting Goods (HIBB) and JinkoSolar (JKS). 

PMI Data Spooks European Stocks

There was cautious trading in Asian markets overnight, as traders look ahead to another round of trade talks next week between the U.S. and China. China's Shanghai Composite rose 0.09% and the Hang Seng added 0.1% in Hong Kong, as Tencent shares provided strength. In Japan, the Nikkei picked up 0.09% on the back of sharp gains out of Softbank, while investors also considered softer-than-expected inflation data. South Korea's Kospi closed with a 0.09% win, too. 

In Europe, the attention is on a round of frighteningly weak economic data. Namely, the eurozone's purchasing managers index (PMI) came in below expectations in March, and specific readings for Germany and France were also weak, with the former country’s manufacturing sector contracting for a third consecutive month. As such, London's FTSE 100 is down 1.4%, France's CAC 40 has shed 1.3%, and the German DAX was last seen 0.7% lower. 

Stocks are tanking this afternoon, with the Dow Jones Industrial Average (DJI) more than 350 points lower following Nike's (NKE) surprising earnings disappointment. In addition, traders are jeering lackluster manufacturing data in both the U.S. and in Europe, as well as the first inverted yield curve since 2007 -- often seen as a precursor to a recession. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are also deep in the red, with the former the only index still on pace for a weekly win. The Cboe Volatility Index (VIX) -- or the stock market's "fear gauge" -- is set for its first close above 17 since late January.

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

• The retailer slammed with rare pre-earnings bear note.
• 3 reasons to like this Apple supplier, according to analysts.
• Plus, the tanking telecom stock; Twitter's Trump buzz; and one of today's worst NYSE stocks.

Telecommunications stock Nokia Oyj (NYSE:NOK) is sporting unusual options volume today, with 26,000 calls and 20,000 puts crossing the tape so far -- 14 times the average daily pace. The April 5.50 put is seeing the most action, with over 9,100 contracts already having changed hands. Nokia stock has gapped 5% lower to $5.95, after the company outlined a compliance issue at its Alcatel-Lucent business. NOK earlier fell as low as $5.76, but found support atop its 200-day moving average.

Tech giant Twitter Inc (NYSE:TWTR) was last seen 2.5% higher at $33.85. The surge comes after President Donald Trump was quoted in his Fox Business Network interview as saying he doesn't "like the concept" of breaking up tech companies like Facebook (FB), Twitter, and Google (GOOGL). In response, TWTR briefly pushed above the 200-day moving average, and is pacing toward its first close above $33 since an early February bear gap.

Situated at the bottom of the NYSE is renewable energy name JinkoSolar Holding Co., Ltd. (NYSE:JKS), after the company reported disappointing fourth-quarter results. JinkoSolar is down 13% at $17.06 -- right on par with options traders' volatility predictions. Longer-term, however, the shares have more than doubled in the past three months.

Stocks fell into the red at the open, as troubling eurozone manufacturing data amplified concerns of a slowing global economy. The selling pressure only intensified by midday, as disappointing U.S. factory data and a rare inverted yield curve -- typically seen as a pre-recession signal -- spooked an already-shaky Wall Street. By the time the dust settled, the Dow, S&P 500, and Nasdaq had all erased their weekly gains, and were staring at their biggest daily losses since Jan. 3.

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

• This Nasdaq alarm is sounding for the first time in 10 years.
• This retail stock just flashed a technical warning sign.
• Plus, another upgraded Apple supplier; why bears blasted this Turkey ETF; and more bull notes for Chipotle.

The Dow Jones Industrial Average (DJI - 25,502.32) closed near its session lows, down 460.2 points, or 1.8%. Nike (NKE) led 26 Dow decliners with its 6.6% post-earnings slump, while Verizon (VZ) paced the four advancers with its 2.5% gain. For the week, the Dow gave back 1.3%.

The S&P 500 Index (SPX - 2,800.71) shed 54.2 points, or 1.9%, to land right at the key 2,800 level, while the Nasdaq Composite (IXIC - 7,642.67) surrendered 196.3 points, or 2.5%. Week-over-week, the SPX and IXIC slipped 0.8% and 0.5%, respectively.

The Cboe Volatility Index (VIX - 16.48) popped 2.9 points, or 20.9% -- its biggest daily advance since Dec. 4. The market's "fear gauge" surged 27.9% on the week.

5 Items on our Radar Today

1. The U.S. racked up its biggest monthly budget deficit to date in February, logging a record $234 billion shortfall. According to the Treasury Department, total spending reached $401 billion last month, while the U.S. brought in just $167 billion. Year-over-year, the budget deficit surged 39%. (MarketWatch)
2. Existing home sales were a bright spot on the economic radar, surging 11.8% in February -- its swiftest pace since 2015 -- to a seasonally adjusted annual rate of 5.51 million. This was more than analysts were expecting, and was due in part to low mortgage rates and strong single-family home sales in the South and West. (Bloomberg)
3. This Apple supplier was the latest to get an analyst upgrade.
4. Why options bears blasted this Turkey ETF.
5. Chipotle stock received its third bullish brokerage note of the week earlier.

Data courtesy of Trade-Alert

Gold Nabs Third Straight Weekly Win

Oil lost ground today, as disappointing economic data at home and abroad sparked concerns of easing global crude demand. By the close, May-dated crude was down 94 cents, or 1.6%, at $59.04 per barrel. Comparing front-month contracts, oil prices added 0.9% this week.

Gold benefited from its safe-haven status, with the April contract climbing $5, or 0.4%, to settle at $1,312.30 an ounce. For the week, the gold prices rose 0.7% -- marking their third straight weekly win.

Dow Jones Industrial Average (DJI) futures are pointed slightly higher this morning, after Special Counsel Robert Mueller's investigation into Russian interference in the 2016 U.S. presidential election found no evidence of collusion on the part of President Donald Trump's campaign. This is helping offset fears of a global recession that were sparked last Friday by a rare yield curve inversion. The focus now shifts to U.S.-China trade talks as Treasury Secretary Steven Mnuchin and top trade negotiator Robert Lighthizer head to China to resume negotiations. 

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

• Options traders think Shaq is a slam dunk for Papa John's.
• Put volume soared after this Turkish ETF got crushed.
• Chipotle stock landed three bull notes last week.
• Plus, Fiat eyes Peugeot merger; more bad news for Tesla; and HIBB upgraded after earnings beat.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.14 million call contracts traded on Friday, compared to 775,827 put contracts. The single-session equity put/call ratio jumped to 0.68, and the 21-day moving average remained at 0.62.
2. Fiat Chrysler Automobiles NV (NYSE:FCAU) stock is up 2.1% in electronic trading, after the Wall Street Journal reported the company was exploring a potential merger with fellow carmaker Peugeot. FCAU has consolidated below the $15 level since the company's weak forecast in early February, but is clinging to its year-to-date breakeven level. 
3. Tesla Inc (NASDAQ:TSLA) stock is down 2.7% ahead of the bell, after a New York Times report suggested registration data indicated vehicle sales have slumped to start 2019. In addition, RBC issued a price-target cut to $210 from $245, and lowered its first-quarter Model 3 delivery forecast. Tesla stock has shed 20% in 2019 thanks to a slew of recent bear notes. 
4. Shares of Hibbett Sports, Inc. (NASDAQ:HIBB) are up 2% in electronic trading, after Susquehanna upgraded the sports retailer to "positive" from "neutral," while hiking its price target to $27 from $20. On Friday, HIBB bucked historical trends and gapped higher in the wake of an upbeat quarterly report.

5. Speeches from Chicago Fed President Charles Evans and Philadelphia Fed President Patrick Harker kick off the week. Traders will also be met with the Chicago Fed National Activity Index and Dallas Fed manufacturing survey. For earnings, Cheetah Mobile (CMCM), Red Hat (RHT), and Winnebago (WGO) will report.

Asian Stocks Slump as Tech Sells Off

Stocks in Asia were hit hard due to growing concerns about the health of the global economy, stemming from Friday's weakness out of U.S. markets. China's Shanghai Composite and Hong Kong's Hang Seng both shed 2%, and South Korea's Kospi fell 1.9%. The losses were worse in Japan, where the Nikkei gave back 3%. Tech shares were some of the biggest losers all around, while financial giant Softbank also suffered notable losses.

In Europe the selling is less severe, though the major indexes remain in the red amid ongoing Brexit uncertainty. Helping offset the losses was Germany's Ifo business climate survey, which topped analysts' expectations for March. Still, London's FTSE 100 is down 0.6% so far, France's CAC 40 is off 0.2%, and Germany's DAX has dipped 0.1%.

U.S. stocks are cautiously higher at midday. Trade-sensitive Caterpillar (CAT) is the top stock on the Dow Jones Industrial Average (DJI), as Wall Street awaits news from the latest round of U.S.-China trade talks. Speculators are also optimistic after Robert Mueller found no evidence that President Donald Trump colluded with Russia. On the other hand, Apple (AAPL) is lower ahead of a highly anticipated streaming event this afternoon. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also slightly higher, attempting to recover from Friday's recession fears that triggered a sell-off. Meanwhile, former Fed Chair Janet Yellen weighed in on the inverted yield curve, saying she doesn't see it as a sign of recession.

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

• Cloud stock sinking on a rare downgrade.
• Analyst: This biopharma stock is "underappreciated."
• Plus, TROX attracts option bulls; and 2 stocks at the top and bottom of the NYSE.

Specialty chemical name Tronox Ltd (NYSE:TROX) is sporting unusual call volume today, with just over 5,300 calls on the tape so far -- seven times the average intraday amount. The April 14 and May 14 calls account for nearly all of today's activity, and it looks like a position has been rolled from the April series to May. TROX has been moving higher since its early December lows, last seen up 2.8% at $12.68, after the Federal Trade Commission (FTC) withdrew the Tronox-Cristal transaction from adjudication.

Chinese education name New Oriental Education & Technology Group (NYSE:EDU) is one of the top stocks on the New York Stock Exchange (NYSE), after Morgan Stanley upgraded EDU to "overweight" from "equal weight" and hiked its price target to $95 from $65. Last seen up 4.9% at $83.37, today's bull note doesn't come as much of a surprise for the shares, as more than 50% of following analysts offer up "strong buy" recommendations. EDU is up more than 50% year-to-date, and is now testing its 40-day moving average -- a former line of resistance for the shares.

Oil concern Key Energy Services Inc (NYSE:KEG) is in the bottom spot on the NYSE, though the catalyst is unclear. Key Energy Services shares are down 11.3% at last check, to trade at $4.25. KEG has pulled back from its recent three-month peak, touched March 15, though its remains up 131% year-to-date. 

It was a volatile start to the final trading week of the first quarter, with stocks reacting to news out of D.C., namely President Donald Trump's tweets of "Total EXONERATION" following Attorney General William Barr's summary of Special Counsel Robert Mueller's report. The latest round of U.S.-China trade talks were also in focus, while last week's yield curve inversion stayed fresh on traders' minds. While the Dow explored a 231-point trading range, the S&P 500 continued to dance around 2,800. The former managed to muscle higher at the close, while the latter joined the Nasdaq in the red, as overbought Apple (AAPL) stock sold off after the tech giant detailed its new streaming services at today's big event.

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

• The best stocks to buy in April.
• The news that sent Nike on a wild ride today.
• How options traders reacted to Tesla's new low.
• Plus, more on today's Apple event; Citigroup extends its losing streak; and a Street-low AKAM price target.

The Dow Jones Industrial Average (DJI - 25,516.83) eked out a 14.5-point, or 0.06% win. Boeing (BA) outpaced 12 Dow advancers with its 2.3% gain, while Apple (AAPL), DowDuPont (DWDP), and Walgreens Boots Alliance (WBA) led the 18 decliners, sinking 1.2% apiece.

The S&P 500 Index (SPX - 2,798.36) shed 2.4 points, or 0.08%, while the Nasdaq Composite (IXIC - 7,637.54) slipped 5.1 points, or 0.07%.

The Cboe Volatility Index (VIX - 16.33) fell 0.1 point, or 0.9%.

5 Items on our Radar Today

1. In addition to the details surrounding its video and news streaming services -- to be called AppleTV+ and Apple News+, respectively -- Apple unveiled a credit card, the Apple Card, which is backed by Goldman Sachs and MasterCard, as well as updates to Apple Pay. Plus, the tech titan revealed a new gaming subscription service, Apple Arcade. (Reuters)
2. New Jersey State Senate President Steve Sweeney delayed a vote over the legalization of recreational marijuana, after the Democratic leader failed to garner enough support to pass the measure. Currently 10 U.S. states and the District of Columbia have legalized recreational weed. (CNBC)
3. Citigroup stock brought its daily losing streak to five.
4. Deutsche Bank set a Street-low price target for Akamai Technologies.
5. Cantor Fitzgerald thinks this biopharma is "underappreciated."

There were no major earnings reports today.

Data courtesy of Trade-Alert

Gold Gains on Safe-Haven Status

Concerns over a weakening global economy weighed on oil prices today. By the close, May-dated crude was down 22 cents, or 0.4% at $58.82 per barrel.

Gold benefited from its safe-haven status today. Gold for April delivery added $10.30, or 0.8%, to settle at $1,322.60 an ounce -- its highest close since Feb. 26.

Dow Jones Industrial Average (DJI) futures are trading above fair value today, following Monday's hard-fought win for the blue-chip barometer. A double-dose of news has investors optimistic today. First, the yield on the 10-year Treasury note has stabilized near 2.4%, after the yield curve inversion last week incited panic selling. Second, high-level trade talks between the U.S. and China are set to resume on Thursday, lending hope that a deal can be struck next month. This is offsetting a dismal reading on housing starts, which fell 8.7% in February to a seasonally adjusted annual rate of 1.16 million units. 

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

• The S&P level that just emerged as resistance, courtesy of Schaeffer's Senior Market Strategist Matthew Timpane.
• History says this big bank stock could bounce.
• How options traders are positioning for KB Home earnings.
• Plus, bull notes for Apple after its big event; a potential proxy fight for Bed Bath & Beyond; and Piper Jaffray's bullish on Nvidia.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 901,765 call contracts traded on Monday, compared to 560,325 put contracts. The single-session equity put/call ratio slipped to 0.62, and the 21-day moving average remained at 0.62.
2. Apple Inc. (NASDAQ:AAPL) stock is up 1.5% in electronic trading, after at least four brokerages raised their price targets, including BTIG to $220 from $189, in the wake of the tech titan's streaming event yesterday. The FAANG name has gained 20% in 2019, guided by its ascending 10-day and 20-day moving averages.  
3. Bed Bath & Beyond Inc. (NASDAQ:BBBY) stock is up a whopping 22.8% ahead of the bell, after the Wall Street Journal reported several activist investors are preparing a proxy fight to overhaul the company's entire board. An upgrade to "strong buy" from "market perform" from Raymond James is only stoking the bullish flames. Thanks to a skeptical brokerage bunch, BBBY had been streaking lower since a rejection at the $17 level last month.
4. Shares of Nvidia Corporation (NASDAQ:NVDA) are up 3.1% in electronic trading, after Piper Jaffray initiated coverage on the chipmaker with an "overweight" rating and $200 price target. The analyst in coverage likes the company's market positioning and exposure level. NVDA stock is already up almost 13% this month, thanks in part to recent well-received M&A news. 

5. Philadelphia Fed President Harker will talk today, as will Boston Fed President Eric Rosengren. The economic schedule also features the S&P CoreLogic Case-Shiller home price index and consumer confidence. Earnings from Carnival (CCL), Cronos (CRON), Ollie's Bargain Outlet (OLLI), and Shoe Carnival (SCVL) are due.

Tokyo Stocks Surge, Europe Pushes Past Brexit Drama

Tokyo-listed stocks bounced back today, recovering from Monday's slide with a 2.2% jump for the Nikkei. Nintendo was one of the session's top gainers, up 4.8% amid reports the company will debut two new iterations of its Switch gaming console this summer. Elsewhere, downbeat earnings guidance from Samsung Electronics kept a lid on gains in South Korea, where the Kospi edged up just 0.2% by the close. Likewise, Hong Kong's Hang Seng tacked on 0.2% to outperform its mainland counterpart, with China's Shanghai Composite dropping 1.5% on the day.

European markets are modestly higher at midday, led by energy stocks as Brent crude futures rally. In London, traders are eyeing Monday's late-breaking Brexit developments, after lawmakers passed the "Letwin amendment" to seize control of the process from Prime Minister Theresa May's government. Members of parliament are now expected to hold a series of non-binding votes on various Brexit outcomes this Wednesday.  At last check, the French CAC 40 is up 0.7%, the German DAX has gained 0.4%, and the U.K.'s FTSE 100 is 0.3% higher.

Stocks are comfortably higher in afternoon trading, as bond yields continue to stabilize, and optimism grows surrounding the upcoming U.S.-China trade talks set for Thursday in Beijing. What's more, a big jump from the tech sector has the Nasdaq Composite (IXIC) pushing 0.8% higher, while the Dow Jones Industrial Average (DJI) is not far behind, up 197 points at midday.

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

• Red-hot NVDA lands another bull note.
• Founder and CEO Bernie Schaeffer explains why tech stocks are facing round-number "double jeopardy."
• Plus, BBBY's options volume surges, and 2 stocks at the top and bottom of the NYSE today.

Retail giant Bed Bath & Beyond Inc. (NASDAQ:BBBY) is sporting unusual options volume today, with roughly 23,000 calls and 22,000 puts across the tape so far. Most active has been the May 15 put and weekly 3/29 19-strike call, where nearly 10,000 total contracts have changed hands. 

BBBY shares gapped higher today, up 27% to $17.66, on news that a proxy fight may break out among three activist investors and the company's board of directors. Myriad analysts have also upgraded the retailer, with today's gains pushing BBBY to its best day in years. Bed Bath & Beyond stock is now up 56% year-to-date.

Cheetah Mobile Inc (NYSE:CMCM) is near the bottom of the New York Stock Exchange (NYSE) this afternoon, down 8.6% at $6.41 after yesterday morning reporting a dismal current-quarter outlook alongside its fourth-quarter beat. CMCM is now back below its 50-day moving average -- a trendline that had only recently emerged as support for the shares. Longer-term, the security has shed 47% over the past 12 months.

Chinese software name LAIX Inc (NYSE:LAIX) is near the top of the NYSE today, last seen 4.3% higher at $9.10 as its post-initial public offering (IPO) lock-up period expires. LAIX is down 27% from its initial public offering (IPO) price of $12.50 back in late September, but has managed to tack on 20% so far this year. 

The Dow jumped to a 279-point lead in early trading, as Wall Street cheered stabilizing bond yields following last week's post-Fed recession scare. Optimism ahead of high-level U.S.-China trade talks and a bouncing bank sector also buoyed stocks. The Dow, S&P 500, and Nasdaq all settled well off their intraday highs, though, on a batch of relatively weak economic data -- including a dreary reading on housing starts -- and a bearish reversal from Apple (AAPL), which swung lower after a U.S. trade judge suggested an import ban on certain iPhone models in a patent infringement case with Qualcomm (QCOM).

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

• The FAANG stock for short-term bears.
• Lululemon options price in a big earnings move.
• Plus, more on today's economic reports; red-hot Nvidia rises again; and behind Bed Bath & Beyond's best day in years.

The Dow Jones Industrial Average (DJI - 25,657.73) closed up 140.9 points, or 0.6%. Walt Disney (DIS) paced the 25 Dow advancers with its 2.2% gain, while UnitedHealth (UNH) led the five decliners with its 1.4% drop.

The S&P 500 Index (SPX - 2,818.46) added 20.1 points, or 0.7%, but stopped just shy of the 2,820 level. The Nasdaq Composite (IXIC - 7,691.52) rose 53.9 points, or 0.7%.

The Cboe Volatility Index (VIX - 14.68) slipped 1.7 points, or 10.1%.

5 Items on our Radar Today

1. Following this morning's dismal reading on housing starts, data showed home prices rose at a seasonally adjusted 3.6% in January -- the slowest year-over-year growth in six years. Elsewhere on the economic front, the Conference Board said consumer confidence unexpectedly fell in February to 124.1, marking its fourth decline in five months. (MarketWatch; Bloomberg)
2. Lyft is reportedly planning to set the range for its initial public offering between $62 and $68 per share, which would value the ride-hailing service at more than $23 billion. Lyft is expected to price its shares late Thursday, and begin trading on the Nasdaq on Friday under the ticker LYFT. (MarketWatch)
3. This pharma stock was the target of a bullish options trade.
4. Red-hot Nvidia notched another win on the back of a fresh bull note.
5. The buzz that sent Bed Bath & Beyond to its best day in years.

Data courtesy of Trade-Alert

Gold Drops as Stocks Climb

Oil prices gained on optimism this week's inventories updates will show declines in domestic crude supplies. By the close, May-dated crude was up $1.12, or 1.9%, to settle at $59.94 per barrel.

Gold gave back some of its recent gains as investors' appetite for riskier assets grew and the U.S. dollar strengthened. Gold for April delivery fell $7.60, or 0.6%, to close at $1,315 an ounce.