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.

Dow Jones Industrial Average (DJI) futures are struggling for direction, under pressure once more from the 10-year Treasury yield, which earlier fell to 2.35% -- its lowest point since December 2017. Following yesterday's weak economic data, Wall Street is also eyeing the latest trade data, which saw the U.S. trade deficit shrink to $51.1 billion in January, compared to an estimated $57 billion, due in part to a sharp rise in soybean exports to China. This comes ahead of high-level talks between the U.S. and China, which are set to begin tomorrow.

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

• This signal says now's the time to buy stocks, courtesy of Schaeffer's Senior Senior Quantitative Analyst Rocky White.
• This drug stock squeezed shorts on its way up the Nasdaq. 
• One Chinese stock that just flashed a trusty bull signal. 
• Plus, Fiat Chrysler's a takeover target; Papa John's earns an upgrade; and Lennar rises despite earnings miss.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 742,805 call contracts traded on Tuesday, compared to 486,417 put contracts. The single-session equity put/call ratio rose to 0.65, and the 21-day moving average stayed at 0.62.
2. Fiat Chrysler Automobiles NV (NYSE:FCAU) stock is up 3.1% in electronic trading, amid reports that French automaker Renault is preparing to restart merger talks with Nissan, and preparing a bid to buy Fiat Chrysler. Since an early February bear gap triggered by a downbeat 2019 forecast, FCAU has consolidated below the $15.50 level, an area that coincides with its 50-day and 80-day moving averages.  
3. Papa John's International, Inc. (NASDAQ:PZZA) stock is up 0.9% ahead of the bell, after Stifel raised its rating on the pizza maker to "hold" from "sell," while boosting its price target to $45 from $35. The brokerage believes the worst is behind the embattled pizza chain, and likes the investor optimism surrounding its new spokesperson. Despite adding 23.6% year-to-date, the overhead 320-day moving average looms.
4. Shares of Lennar Corporation (NYSE:LEN) are up 3% in electronic trading, despite the homebuilding name reporting fiscal first-quarter earnings and revenue that missed estimates. Instead, investors are instead cheering a bigger-than-expected jump in new orders. LEN has a chance to break past resistance at the $50 level, but then faces a stiff test at its 320-day moving average, a trendline that kept a lid on breakouts in the second quarter of last year.

5. The weekly crude inventories report is due. Meanwhile, Five Below (FIVE), Lululemon Athletica (LULU), Paychex (PAYX), and PVH (PVH) will report earnings.

Draghi Comments Drag Down European Stocks

There was mixed trading over night in Asia, as traders continue to await another round of U.S.-China trade talks on Thursday, while also monitoring concerns about a slowdown in the global economy. In China, data showed that profits from the nation’s industrial sector for the first two months of the year declined the most since 2011. Still, the Shanghai Composite rose 0.9%, and Hong Kong’s Hang Seng added 0.6%, with investors expecting more help from the Chinese government to prop up the economy. Japan’s Nikkei settled in the red, however, down 0.2%, as did South Korea’s Kospi. 

In Europe, the major benchmarks are uniformly in the red at the halfway mark. Traders are considering comments from European Central Bank (ECB) President Mario Draghi, who attempted to downplay the possibility of an upcoming recession, while lawmakers in Britain will again take a vote on Brexit plans. London’s FTSE 100 was last seen trading down 0.3%, while the French CAC 40 and Germany’s DAX are each down 0.1%. 

U.S. stocks have retreated as Treasury yields fall once again, reigniting concerns about the health of the global economy. Echoing that, China's industrial profit suffered its biggest drop since 2011, though the U.S. trade deficit shrank in January. Currently, the Dow Jones Industrial Average (DJI) is down more than 150 points at midday, with Microsoft (MSFT) pacing the declining stocks. Meanwhile, a broader tech downturn also has the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) notably lower.

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

• Which hot stock one analyst is calling a "unicorn."
• The drug stock soaring on an FDA nod.
• Plus, Masco's unusual options volume; and 2 stocks eyeing top spots on the NYSE and Nasdaq today.

Home improvement product manufacturer Masco Corp (NYSE:MAS) is sporting unusual options volume today, with roughly 6,000 calls and 2,000 puts across the tape so far -- 16 times the expected volume. Most active have been the April 38 and 41 calls, as well as the April 28 put, where it appears one trader is opening a spread. MAS is down 0.6% at $38.59, at last check. Masco stock has added 42.8% since its late-December lows, but this week is pulling back to its historically supportive 30-day moving average.

Pitney Bowes Inc. (NYSE:PBI) is up 4.2% at $6.65, at last glance, situated comfortably near the top of the New York Stock Exchange (NYSE). The surge comes on the announcement that PBI will be added to the S&P SmallCap 600. Pitney Bowes stock has dropped 39% in the past year, but is now up 12% year-to-date.

One of the best performers on the Nasdaq today has been shoe wear concern Shoe Carnival, Inc. (NASDAQ:SCVL), after the company reported impressive fourth-quarter earnings. SCVL is now up 21.25% at $36.96, at last check, on pace for its best daily percentage gain since August 2017.

The Dow explored a 332-point range on both sides of breakeven. The bulk of the action occurred to the downside as a cooling 10-year Treasury yield and disappointing data out of China reignited concerns over a slowing global economy, while sinking crude futures weighed on oil major Exxon Mobil (XOM). Strong sessions for Apple (AAPL) and Boeing (BA) briefly helped the blue-chip barometer turn higher in the final hour of trading, though the gains failed to hold. Likewise, the S&P 500 and Nasdaq ended lower for the third time in four sessions.

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

• History says to bet on an April win for this ETF.
• Acacia shorts cheered a rare "sell" rating.
• Buyout buzz fueled hot Centene options volume.
• Plus, retail stock flashes pre-earnings buy signal; Square earns a fresh bull note; and one of the best stocks on Wall Street today.

The Dow Jones Industrial Average (DJI - 25,625.59) closed down 32.1 points, or 0.1%. Walmart (WMT) and Chevron (CVX) paced the 21 Dow decliners, shedding 1.1% each, while Boeing (BA) and Travelers (TRV) led the nine advancers, adding 1% apiece.

The S&P 500 Index (SPX - 2,805.37) gave back 13.1 points, or 0.5%, while the Nasdaq Composite (IXIC - 7,643.38) surrendered 48.2 points, or 0.6%.

The Cboe Volatility Index (VIX - 15.15) added 0.5 point, or 3.2%.

5 Items on our Radar Today

1. Turkish stocks plunged as investors fled and the lira fell ahead of a key March 31 vote to determine authority over Turkey's cities. The BIST 100 Index plunged 5.7% for its worst day since July 2016. The benchmark has now shed more than 13% from a failed test of the 16,000 mark on March 19. (Bloomberg)
2. U.K. Prime Minister Theresa May said she would step down from her top position if parliament passes her Brexit deal -- a measure that's already failed two times. "I know there is a desire for a new approach -- and new leadership -- in the second phase of the Brexit negotiations -- and I won’t stand in the way of that," said May ahead of an extended April 12 Brexit deadline. (Reuters)
3. This retail stock flashed a buy signal ahead of earnings.
4. Square earned a fresh "outperform" rating.
5. This retailer was one of the best stocks on Wall Street today.

Data courtesy of Trade-Alert

Oil Prices Drop on Unexpected Supplies Build

Oil prices fell after the Energy Information Administration (EIA) said domestic crude inventories rose for the first time in three weeks -- compared to consensus estimates for a weekly drop in supplies. Crude for May delivery dropped 53 cents, or 0.9%, to settle at $59.41 per barrel.

Gold prices fell for a second straight day as the U.S. dollar strengthened. At the close, April-dated gold was down $4.60, or 0.4%, at $1,310.40 an ounce.

Dow Jones Industrial Average (DJI) futures are perched just below fair value this morning. Investors are digesting a 2.2% rise in fourth-quarter gross domestic product (GDP) -- on par with estimates, but downwardly revised from the previous reading of 2.6%. Trade talks between the U.S. and China are also in focus, after a Reuters report indicated the two sides had reached "unprecedented" progress in areas such as intellectual property theft.

Elsewhere, oil prices are set to pull back again, with May-dated crude futures down 1.7% at $58.41 per barrel. President Donald Trump lashed out at the Organization of the Petroleum Exporting Countries (OPEC) again this morning, tweeting that the cartel should "increase the flow of Oil" as prices are "getting too high." 

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

• Weed stock tanks on analyst "sell" rating.
• CVS puts were active before next week's Congress hearing.
• Retail stock flashes buy signal before tonight's earnings. 
• Plus, LULU eyes a new post-earnings high; FedEx downgraded; and Nielsen suitors getting cold feet.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 848,465 call contracts traded on Wednesday, compared to 585,373 put contracts. The single-session equity put/call ratio rose to 0.69, and the 21-day moving average stayed at 0.62.
2. Lululemon Athletica inc. (NASDAQ:LULU) stock is up an impressive 13.7% in electronic trading, after the athleisure retailer reported fourth-quarter earnings and revenue that blew past expectations. No fewer than 11 brokerages have issued price-target hikes this morning, including a boost to $197 from $182 at J.P. Morgan Securities. LULU is set to open north of its Oct. 1 record high at $164.79. 
3. FedEx Corporation (NYSE:FDX) was downgraded at Susquehanna to "neutral" from "positive" on macroeconomic concerns. The brokerage firm also cut its price target on FDX to $192 from $211, with the new target implying expected upside of about 9% to last night's close at $176.09. The shares are set to extend a recent pullback from resistance at their 80-day moving average.
4. Shares of Nielsen N.V. (NYSE:NLSN) are down 9.5% in electronic trading, after the New York Post reported that Blackstone has dropped out of the auction to acquire the ratings agency. Suitors are said to be wary of NLSN's hefty $8 billion debt load, which nearly matches its $9.5 billion market cap. Nielsen stock is set to gap below its 50-day and 80-day moving averages, which haven't been breached on a daily closing basis since late January.

5. Today's economic calendar also includes jobless claims and pending home sales. Further, the Fed's balance sheet and speeches from Atlanta Fed President Raphael Bostic and St. Louis Fed President James Bullard are also expected. Earnings releases are due from Accenture (ACN). 

Asian Stocks Mixed; Brexit Weighs on Europe

Stocks in Asia closed mostly in the red ahead of the next round of U.S.-China trade talks. China’s Shanghai Composite dropped 0.9%, while Hong Kong’s Hang Seng managed a 0.2% gain, as telecommunications giant ZTE posted a huge rally. In Japan, the Nikkei struggled, losing 1.6% on the day, and South Korea’s Kospi joined the losers with a 0.8% decline. 

So far in Europe, the trading has been mixed. Attention remains on the uncertain path forward for Brexit, with British Prime Minister Theresa May offering to step down should lawmakers accept her Brexit terms. London’s FTSE 100 is managing to push higher, last seen up 0.5%, as the questions around Brexit put pressure on the pound. Germany’s DAX is also testing positive territory, up 0.1%, and France’s CAC 40 is slightly below breakeven, down 0.08%.

Stocks are lower at midday, as investors continue to digest gross domestic product (GDP) data that showed growth of 2.2% for the fourth quarter -- slower than initial estimates. Echoing that, mortgage rates fell at the fastest pace since June 2009 last week. In addition, traders are exercising caution amid U.S.-China trade talks, as Wall Street awaits word from Beijing. May-dated crude is also suffering -- last seen down 0.6% at $59.05 per barrel -- after President Donald Trump tweeted to the Organization of the Petroleum Exporting Countries (OPEC) that oil prices are "getting too high." In response, the Dow Jones Industrial Average (DJI), Nasdaq Composite (IXIC), and S&P 500 Index (SPX) are all modestly lower.

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

• This penny stock could double, analysts say.
• Wall Street was quick to react to Five Below earnings.
• Plus, GOOS' put options turn red-hot; and 2 of today's top stocks on the NYSE.

Winter clothing manufacturer Canada Goose Holdings Inc (NYSE:GOOS) is sporting unusual put options volume today, with roughly 12,000 puts across the tape so far. This surge is 33 times the expected intraday rate, and most active is the front-month April 40 put, where over 11,700 contracts have exchanged hands. Trade-Alert indicates most of the puts were sold to open, with the investor expecting GOOS to stay above $40 in the near term. The shares are up 3.3% at $47.39, at last check, just off a bounce from the rising 360-day moving average. Over the past 12 months, GOOS has added 44%.

Car name Ford Motor Company (NYSE:F) is near the top of the New York Stock Exchange (NYSE), after announcing plans to work with sector peer Volkswagen on a pick-up truck. After falling to new lows in late December, Ford shares are up more than 14% year-to-date. However, a ceiling for the stock has been the $9 mark, which has stifled rally attempts in 2019. Today, F is up 2% at $8.80.

Another outperformer on the NYSE today is Movado Group, Inc (NYSE:MOV), after the company reported impressive fourth-quarter earnings. The shares are up 17.4% at $38.32, pacing toward their best daily percentage gain since August 2017.

U.S. stocks traded on both sides of breakeven today, as traders considered economic data and headlines around U.S.-China trade relations. A downwardly revised reading on fourth-quarter GDP and a round of lackluster housing data set stocks back early on, but some positive buzz around trade talks and a huge earnings reaction from today's top S&P 500 performer PVH Corp helped offset the losses. While the Dow managed to end the day in positive territory, crude futures fell following President Donald Trump's tweet claiming oil prices were too high.

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

• 2 stocks that could make big earnings moves tomorrow.
• The best FAANG stock for the second quarter.
• Inside the drug data the prompted one of Tricida's biggest moves ever.
• Plus, a telecom stock for bears; analyst hits FedEx; and Five Below gets bulls behind it.

The Dow Jones Industrial Average (DJI - 25,717.46) closed near session highs, up 91.9 points, or 0.4%. Twenty-six of the 30 Dow components finished with gains, led by 1.1% wins from Nike (NKE) and JPMorgan Chase (JPM). Verizon (VZ) had the worst session, shedding 3%.

The S&P 500 Index (SPX - 2,815.44) closed up 10.1 points, or 0.4%, while the Nasdaq Composite (IXIC - 7,669.17) picked up 25.8 points, or 0.3%.

The Cboe Volatility Index (VIX - 14.43) ended with a 0.7-point, or 4.8%, loss.

5 Items on our Radar Today

1. The U.S. Supreme Court rejected a request from a gun rights activist group looking to stop the Trump administration's plan to ban bump stocks for guns. The new regulation was implemented by the Justice Department on Tuesday, and follows the lead of several states that already imposed rules on bump stock sales. (Reuters)
2. One of today's oddest stories came out of Iceland, where airline Wow Air suddenly canceled all flights and said it has ceased operation. Some passengers may be entitled to compensation depending on how and when they booked their flights. (CNBC)
3. Why option bears should pay attention to Qualcomm.
4. An analyst explained his decision to downgrade FedEx stock.
5. How retailer Five Below is attracting bullish attention on Wall Street.

Data courtesy of Trade-Alert

Oil Dips on Trump Tweet; Gold Suffers Biggest Drop Since August

Oil prices ended in the red after President Trump tweeted that the Organization of the Petroleum Exporting Countries (OPEC) should increase supply to lower prices. May crude futures finished down 11 cents, or 0.2%, at $59.30 per barrel.

Gold prices took a tumble today amid a strengthening dollar. April-dated gold closed with a $20.60, or 1.6%, loss to end at $1,289.80 per ounce, below the key $1,300 level. It was gold's biggest single-session drop since August.

Dow Jones Industrial Average (DJI) futures are signaling a strong push higher, on renewed U.S.-China trade optimism. More specifically, U.S. Treasury Secretary Steven Mnuchin tweeted about "constructive trade talks in Beijing," with the two sides set to meet in Washington next week. Investors are also digesting a 0.1% monthly drop in the personal consumption expenditures (PCE) index for January, bringing the year-over-year reading to 1.4% -- the lowest level since late 2016. Elsewhere, despite President Donald Trump's tweets yesterday about oil prices, May-dated crude futures are up 1.9% at $60.45 per barrel.

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

• History says drop this tech stock before April.
• Troubled FedEx stock just flashed a sell signal.
• Bullish bias grows on this drug stock.
• Plus, BlackBerry toasts earnings beat; GM sells Korean plant; and Credit Suisse pumps the brakes on Spotify.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 709,462 call contracts traded on Thursday, compared to 501,508 put contracts. The single-session equity put/call ratio rose to 0.71, and the 21-day moving average climbed to 0.63.
2. BlackBerry Ltd (NYSE:BB) stock is up 11.2% in electronic trading, after the tech concern reported fourth-quarter earnings and revenue that exceeded analyst expectations. Options traders had been bracing for a big post-earnings move, and BB is now set to topple their 200-day moving average once more.
3. General Motors Company (NYSE:GM) stock is up 0.9% ahead of the bell, after the automaker sold a South Korean plant to a Tesla supplier for $99 million. GM has recently consolidated below the $37.50 area, home to its post-bull gap levels from late January.
4. The shares of Spotify Technology SA (NYSE:SPOT) are down 1.2% in electronic trading, after Credit Suisse initiated coverage with an "underperform" rating and $120 price target. The analyst in coverage believes long-term expectations are unrealistic despite strong subscriber growth. SPOT has added 21.2% in 2019, but has encountered a stiff ceiling at its 160-day trendline. 

5. The Chicago purchasing managers manufacturing index (PMI), new home sales, and consumer sentiment all come out today. CarMax (KMX) will round out the earnings reports.

Asia Boosted by Trade Talks, Europe Cheers Economic Data

Stocks in Asia got a boost on the heels of another day of trade talks between the U.S. and China, with news reports quoting officials from the countries describing the meetings as "constructive" and "productive." What’s more, China said it would expand access for foreign entities for a number of markets, most notably the financial services space. As such, the Shanghai Composite jumped to a 3.2% win. Meanwhile, Hong Kong's Hang Sang added 1%, Japan's Nikkei rose 0.8%, and South Korea’s Kospi closed up 0.6%. 

Turning to Europe, buyers are also in control, with the major benchmarks holding positive territory halfway through the day. On top of apparent optimism around trade, investors are considering a raft of economic data out of the U.K., including a slightly better-than-expected gross domestic product (GDP) number for the fourth quarter. Meanwhile in Germany, retail sales for February topped expectations. All this comes as British lawmakers continue to work out a Brexit deal, with another vote taking place today. London’s FTSE 100 is up 0.4%,  while the German DAX and French CAC 40 are up 0.9% each.  

U.S. stocks are higher in afternoon trading, with the Dow Jones Industrial Average (DJI) boasting a 129-point lead, and the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) also in the black. Optimism over U.S.-China trade talks is lifting stocks, following U.S. Treasury Secretary Steven Mnuchin's tweet, with trade-sensitive Caterpillar (CAT) and Boeing (BA) at the top of the Dow. Walgreens Boots Alliance (WBA) is also notably higher ahead of earnings next week. Elsewhere, U.K. Prime Minister Theresa May's latest Brexit proposal has been voted down for the third time, prompting European Council President Donald Tusk to call for an emergency meeting on April 10, ahead of the April 12 deadline to leave the European Union.

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

• 3 pharma stocks that could soar 100%, according to analysts.
• Baird is bullish on this Chinese tech giant.
• Plus, BlackBerry stock's post-earnings options surge; car stock topping the NYSE; and the buzzing biotech.

Tech concern BlackBerry Ltd (NYSE:BB) is sporting unusual options volume today, with roughly 69,000 calls and 12,000 puts across the tape so far. This surge is 13 times the expected intraday rate, and most active by a long shot is the expiring weekly 3/29 10-strike call, where over 12,000 contracts have changed hands. BB is seeing an increase in attention after the company posted a quarterly profit beat this morning, bringing the shares up 13.7% to $10.10, at last check. The equity is set to close atop its 200-day moving average for the first time since September.

CarMax, Inc (NYSE:KMX) is one of the top stocks on the New York Stock Exchange (NYSE) today, after the car resale company reported better-than-expected fourth-quarter profit and revenue. In response, KMX is up 8.7% at $69.22, at last glance, eyeing its first close above the 160-day moving average since Oct. 29. Today's surge has pushed the stock's year-to-date lead to nearly 10%.

Biotech Zymeworks Inc (NYSE:ZYME) is also at the top of the NYSE this afternoon, adding to its already impressive 33% year-over-year gains. While the catalyst behind today's surge is unknown, the stock was last seen up 3.4% at $16.06, attempting another breakout above the $16 ceiling.