Stocks had a strong showing today, rallying out of the gate for a convincing start to the second quarter. Traders cheered signs of improving economic conditions in China and the U.S., with tech shares leading the S&P 500 and Nasdaq higher. Still, strength was seen across the board, as the financial sector, including Dow components JPMorgan Chase, Goldman Sachs, and American Express, also posted impressive gains.

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

• The Apple news that sank this semiconductor stock.
• Why near-term call traders were bullish on WYNN.
• One analyst thinks this biopharma could barrel higher. 
• Plus, bullish attention for one blue chip; FAANG stock gets praised; and how UPS got a boost.

The Dow Jones Industrial Average (DJI - 26,258.42) rallied 329.7 points, or 1.3%, today. Caterpillar (CAT) paced the 24 advancing blue chips for the second day in a row, adding 3.5%, while McDonald's (MCD) was the biggest loser, falling 0.8%.

The S&P 500 Index (SPX - 2,867.19) closed up 32.8 points, or 1.2%, while the Nasdaq Composite (IXIC - 7,828.91) picked up 99.6 points, or 1.3%.

The Cboe Volatility Index (VIX - 13.40), on the other hand, shed 0.3 point, or 2.3%.

5 Items on our Radar Today

1. Food giant Kellogg (K) announced today it is selling its Keebler, Mother’s, and Famous Amos businesses to Ferrero Group for $1.3 billion. Ferrero -- maker of Nutella -- will also purchase five production facilities. (MarketWatch) 
2. Ride-hailing service Lyft Inc (LYFT) fell below its initial public offering (IPO) price of $72 in its second day on the charts, dropping as low as $68.50 during intraday trading. The stock hit a peak of $88.60 during its public debut last Friday, March 29. (CNBC)
3. Blue chip reacts to fresh "overweight" rating.
4. One analyst can't shake this FAANG stock.
5. UPS lands a Berenberg bull note.

Data courtesy of Trade-Alert

Crude Follows Stocks Higher

Signs of extended declines in supplies from major crude producers helped lift oil prices today. May-dated crude futures finished up $1.45, or 2.4%, at $61.59 per barrel.

Gold prices, meanwhile, fell today during the risk-on session for equities. June gold futures closed down $4.30, or 0.3%, at $1,294.20 an ounce.

Dow Jones Industrial Average (DJI) futures are struggling for direction today, after the big-cap index logged major gains in Monday's trading. There's plenty for traders to digest today, including March auto sales data and a slimmer-than-expected 1.6% drop in durable goods orders from February -- marking their first decline in four months. Additionally, oil prices remain in focus, with May-dated crude futures eyeing a third straight gain, up 0.4% at $61.86 per barrel. While Dow futures were last seen lower on a negative earnings reaction for Walgreens Boots Alliance (WBA), the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are signaling positive opens.

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

• Why bulls must watch the VIX 18 level, according to Schaeffer's Senior V.P. of Research Todd Salamone.
• A C-suite shake-up sent this stock to the bottom of the Nasdaq.
• Options volume spiked as Puma Biotechnology stock sold off.
• Plus, the Netflix pullback is a "good buying opportunity"; Whole Foods slashes prices; and a drug stock set to sink.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 931,739 call contracts traded on Monday, compared to 568,565 put contracts. The single-session equity put/call ratio fell to 0.61, and the 21-day moving average remained at 0.63.
2. J.P. Morgan Chase reiterated its "overweight" rating on Netflix, Inc. (NASDAQ:NFLX), saying the FAANG stock's recent weakness represents a "good buying opportunity." The brokerage firm also said it recently added NFLX as a top pick, and underscored its $435 price target -- an 18.5% premium to last night's close at $366.96. NFLX shares are up 0.4% in electronic trading, extending a bounce from this bullish trendline.
3. Amazon.com, Inc. (NASDAQ:AMZN) said it will lower prices at Whole Foods, starting Wednesday, April 3. The discounts will focus mostly on produce and meats, with an average savings of 20%. Amazon -- which is one of the best stocks to own in the second quarter -- closed last night at $1,814.19, up 20.8% year-to-date, and is 0.1% higher ahead of the bell.
4. Evoke Pharma Inc (NASDAQ:EVOK) said its Gimoti nasal spray -- used to treat symptoms sparked by acute and recurrent diabetic gastroparesis -- was rejected by the U.S. Food and Drug Administration on clinical pharmacology and product/device quality concerns. After closing last night at $1.70, EVOK stock is down 41.2% in pre-market trading, set to open at a record low near $1.

5. Dave & Busters (PLAY) and GameStop (GME) report earnings today.

Bank Stocks Boost European Markets

Most Asian markets finished slightly higher today, extending Monday's gains after upbeat economic data out of the U.S. and China. By the close, South Korea's Kospi rose 0.4%, while China's Shanghai Composite and Hong Kong's Hang Seng both added 0.2%. Japan's Nikkei lagged its regional peers, giving up 0.02%.

Europe is also trading higher at midday, led by bank stocks after Sweden's Economic Crime Authority opted against pursuing money laundering allegations against Swedbank due to a statute of limitations. U.K. stocks are among the top gainers as the pound plummets following the latest Brexit deadlock in parliament, despite dismal construction data. At last check, London's FTSE 100 is up 1%, the German DAX has advanced 0.6%, and the French CAC 40 is 0.5% higher.

Blue chip Walgreens Boots Alliance's (WBA) negative earnings reaction continues to drag down the Dow Jones Industrial Average (DJI), with the index down more than 100 points at midday. In addition, the latest durable goods data took some of the wind out of the bulls' sails. Elsewhere, the S&P 500 Index (SPX) is also lower due to an underperforming consumer staples sector, though energy stocks are up with oil prices. At last check, May-dated crude futures were 1.2% higher at $62.29 per barrel. 

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

• Why this analyst is already bearish on Lyft stock. 
• Seasonal tailwinds could boost this medical equipment stock.
• Plus, EXPE bears emerge; the biotech at the top of the Nasdaq, and the medical stock eyeing its worst day ever. 

Expedia Group Inc (NASDAQ: EXPE) is sporting unusual options volume today, with roughly 7,500 puts across the tape so far -- about five times the average intraday volume. Much of activity is transpiring around the June 125 put, where it looks like traders are buying the puts to open. Meanwhile, EXPE shares are up slightly today, at $120.66 -- but recent upside momentum has stalled at their 20-day moving average.

Biotech stock Sangamo Therapeutics Inc (NASDAQ:SGMO) is at the top of the Nasdaq today, after releasing positive early-stage data on its gene therapy treatment for severe hemophilia A. SGMO is up 40.6% at $13.40, as a result. The stock is now pacing for its best day in nearly two years, and is trading well atop its 200-day moving average for the first time since August.

Apyx Medical Inc (NASDAQ:APYX) is far and away the worst performer on the Nasdaq  today, after the medical equipment concern retracted its marketing application for Renuvion. At last check, the stock was down 43.8% at $3.90, pacing for its worst day ever.

U.S. stocks finished the day mixed following Monday's strong performance. An earnings disappointment from Walgreens Boots Alliance (WBA) put pressure on the Dow, while the S&P and Nasdaq managed to end with modest gains, as investors continued to digest the earlier bulk of economic and manufacturing data that hit the Street. Nevertheless, the blue-chip index remained above the notable 26,000 mark, while the latter two each marked a fourth straight win.

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

• This Apple supplier flashed a hot bull signal.
• Why Facebook is a top pick at Deutsche Bank.
• This biotech just had its best day ever on the back of FDA buzz.
• Plus, Lyft's first bear note; a popping penny stock; and Shopify stock could be ready to bounce.

The Dow Jones Industrial Average (DJI - 26,179.13) fell 79.3 points, or 0.3%, today. Apple (AAPL) paced the nine advancing blue chips and added 1.4%, while WBA was the biggest loser, shedding 12.8%.

The S&P 500 Index (SPX - 2,867.24) closed fractionally higher, as the Nasdaq Composite (IXIC - 7,848.69) added 19.8 points, or 0.3%.

The Cboe Volatility Index (VIX - 13.36) shed 0.04 point, or 0.3%.

5 Items on our Radar Today

1.  According to a report from the Commerce Department, online sales have made history by narrowly surpassing those of brick-and-mortar stores for the first time ever in February. Online shopping is now the fourth-largest sector overall, bringing in just under $60 billion in adjusted sales for February. (CNBC)
2. Energy giant Chevron (CVX) was ordered to pay $21 million to the family of two brothers who died of cancer after working as spray booth operators for multiple decades in its factories. Gary and Randy Eaves each died at the age of 61 of varying cancers, after both having worked directly with a toxic benzene solvent in the Arkansas-based factory without proper safety training. (MarketWatch) 
3.  Lyft stock landed its first bear note.
4.  One penny stock just spiked on a positive headline.
5.  History says Shopify stock may be ready to bounce.

There are no earnings of note.

Data courtesy of Trade-Alert

Crude Brings Its Win Streak to 3

Easing economic growth worries and news of tightening global supply pushed oil futures higher. The May-dated contract finished up 99 cents, or 1.6%, at $62.58 per barrel -- its third straight win.

Gold eked out a modest gain, even as the dollar strengthened. June gold futures closed up $1.20 at $1,295.40 per ounce.

Dow Jones Industrial Average (DJI) futures are trading well above fair value this morning, with traders upbeat ahead of the latest round of U.S.-China trade talks. With Chinese Vice Premier Liu He in Washington D.C. today, the Financial Times is reporting the two sides have made significant progress in negotiations. Traders are also watching rising oil prices -- with the May-dated crude up 0.1% at $62.63 per barrel -- and shrugging off weak ADP private payrolls data, which showed U.S. businesses added a lower-than-expected 129,000 new jobs in March.

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

• This emerging analyst trend could be positive for stocks, according to Schaeffer's Senior Quantitative Analyst Rocky White.
• History says to buy cheap calls on Shopify stock.
• Options traders blasted this booming biotech.
• Plus, GameStop set for single digits; Blue Apron's C-suite shakeup; and a downgraded Dow stock.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 881,986 call contracts traded on Tuesday, compared to 499,054 put contracts. The single-session equity put/call ratio fell to 0.57, and the 21-day moving average remained at 0.63.
2. The shares of GameStop Corp. (NYSE:GME) are down 12.3% in electronic trading, after the video game retailer's fourth-quarter revenue miss and lower-than-expected current-quarter forecast overshadows a quarterly profit beat. Analysts have been quick to chime in, with GME price-target cuts coming from Credit Suisse (to $10) and Wedbush (to $12). After closing last night at $10.10, GME stock is set for its first trip into single-digit territory since March 2005.
3. Blue Apron Holdings Inc (NYSE:APRN) stock is trading up 17.7% ahead of the bell, after the meal delivery service said CEO Brad Dickerson will be replaced by former Etsy Chief Operating Officer Linda Findley Kozlowski. Co-founder Ilia Papas is also leaving. APRN also reaffirmed its current-quarter and full-year forecasts.
4. Deutsche Bank downgraded Caterpillar Inc. (NYSE:CAT) to "hold" from "buy," and slashed its price target to $128 from $152, citing expectations for a weakening demand from China and Europe, and saying the "U.S. is over-saturated with equipment." After settling last night at $140.19, the construction stock is down 0.7% in pre-market trading.
5. The ISM non-manufacturing index, and the weekly crude inventories update are due, while Atlantic Fed President Raphael Bostic and Minneapolis Fed President Neel Kashkari will speak. Acuity Brands (AYI) and Signet Jewelers (SIG) report earnings.

Asian Stocks Advanced With Oil Prices

Asian stocks finished firmly higher, after the Financial Times report. Energy also remains in focus as Brent crude futures extended their climb. By the close, China's Shanghai Composite, Hong Kong's Hang Seng, and South Korea's Kospi were up 1.2% apiece, while Japan's Nikkei brought up the rear with a 1% advance.

Once again today, basic resources are leading the charge in Europe, this time over optimism on U.S.-China trade. As a result, traders are shrugging off a mild downturn in the IHS Markit Eurozone composite purchasing managers index (PMI), which backpedaled to 51.6 in March. At last look, the German DAX has rallied 1.2%, the French CAC 40 is 0.7% higher, and London's FTSE 100 has edged up 0.2%.

The Dow Jones Industrial Average (DJI) has pared its earlier gains, as traders turn their attention to a weakening U.S. services sector, which saw growth slow last month to a pace not seen since August 2017. In addition, Wall Street continues to weigh worse-than-expected private payrolls data, which precedes Friday's highly anticipated March jobs report. However, lingering optimism over a trade deal between the U.S. and China has helped keep the index afloat, while strength in chip stocks has the Nasdaq Composite (IXIC) outperforming.

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

• Why GameStop stock just dropped to single digits.  
• The Ford partnership pushing this China stock higher. 
• Plus, options traders are piling on WDC stock; the penny stock soaring on the weed craze; and ADXS stock continues to stumble. 

Western Digital Corp (NASDAQ:WDC) is seeing unusual options volume today, with roughly 20,000 calls and 9,000 puts exchanging hands so far -- about two times the average intraday volume. The weekly 4/5 53-strike call looks to be the most popular, where it looks like traders are buying the contracts to open. Western Digital shares are up 5% at $52.93 today, thanks to a semiconductor halo lift. 

Farming concern Evogene Ltd (NASDAQ:EVGN) is near the top of the Nasdaq today, after announcing its new subsidiary, Canonic Ltd, will develop medical cannabis products. EVGN is up 23.3% at $2.22 at midday, after hitting an all-time low of $1.67 this Monday. After peaking at $2.43 in intraday trading, the stock is back on pace to end beneath its 80-day moving average, which hasn't been toppled on a daily closing basis since November. 

Advaxis, Inc. (NASDAQ:ADXS) is one of the worst performers on the Nasdaq today, after the medical researcher offered its common stock at a deep discount to yesterday's close. The shares are trading 30.3% lower at $4.11, at last glance -- down roughly 87% off last year's high of $30.60 in mid-May.

U.S. stocks finished a choppy trading day higher, with Wall Street optimistic a U.S.-China trade deal is within reach. This, alongside strength in the tech sector, had stocks brushing off a dreary update on private payrolls. By the close, the Dow had muscled higher, while the S&P 500 and Nasdaq brought their daily win streak to five.

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

• 3 trading ideas out of this underloved sector. 
• The Tesla bull signal flashing ahead of tomorrow's SEC showdown. 
• Biotech blasted with analyst bear note.
• Plus, why this metal stock surged; one retailer extended its lengthy win streak; and Nasdaq's top stock today.

The Dow Jones Industrial Average (DJI - 26,218.13) added 39 points, or 0.2%. DowDuPont (DWDP) paced the 16 advancing blue chips with a 2.3% gain, while Boeing (BA) took the biggest hit, shedding 1.5%. McDonald's (MCD) ended the day flat.

The S&P 500 Index (SPX - 2,873.40) closed up 6.2 points, or 0.2%, and the Nasdaq Composite (IXIC - 7,895.55) added 46.8 points, or 0.6%.

The Cboe Volatility Index (VIX - 13.74) picked up 0.4 point, or 2.8%.

5 Items on our Radar Today

1. Amid increased scrutiny of tech companies, Amazon.com (AMZN) said it has eased back on promoting its private-label products, while also relocating promotions to less-prominent areas of its website. This follows recent criticisms from Democratic Senator Elizabeth Warren of Massachusetts, who called AMZN's advertising tactics for its own products a "conflict of interest." (CNBC)
2. Investigators for the late-October Lion Air Boeing 737 MAX 8 crash have linked a faulty sensor repair to a Florida shop prior the incident. While there's no evidence the same repair shop worked on the Ethiopian Airlines 737 MAX 8 that crashed last month, maintenance and pilot actions are being investigated. (Bloomberg)
3. This metals stock surged after the company hiked its forecast.
4. Urban Outfitters stock eyes 8th straight win.
5. This energy stock sailed to the top of the Nasdaq today.

Data courtesy of Trade-Alert

Gold Finishes Flat, Oil Snaps Win Streak

A surprise rise in domestic crude inventories sent oil lower, to snap its three-day win streak. The May-dated contract closed 12 cents, or 0.2%, lower, at $62.46 per barrel.

Optimism around U.S.-China trade negotiations kept a lid on gold futures. The June-dated contract closed down 10 cents at $1,295.30 per ounce.

Stock futures are choppy this morning, as traders eye U.S.-China trade negotiations. Ahead of today's meeting with Chinese Vice Premier Liu He, U.S. President Donald Trump tweeted negotiations with Beijing are "moving along nicely." However, a Wall Street Journal report hinted at several remaining hurdles, including Washington's request to maintain punitive tariffs. The bulls had the edge at last check, though, with futures on the Dow Jones Industrial Average (DJI) most recently seen signaling a higher start.

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

• Options traders bet on bigger gains for Verizon stock.
• One signal says to take profits on this video game stock.
• Analyst targeted major upside for this "cheap" stock.
• Plus, Tesla and Office Depot brace for big drops; and upgraded Facebook pops.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 1.08 million call contracts traded on Wednesday, compared to 566,160 put contracts. The single-session equity put/call ratio fell to 0.52, and the 21-day moving average slipped to 0.62.
2. The shares of Tesla Inc (NASDAQ:TSLA) are down 10.1% in electronic trading, after the electric car concern reported a larger-than-expected drop in first-quarter deliveries. TSLA stock has been blasted with bear notes, too, including a price-target cut to $170 from $180 at Cowen and Company. After closing last night at $291.81, the equity is set to open near its late-March lows.
3. Office Depot Inc (NASDAQ:ODP) said it expects first-quarter revenue to arrive at $2.76 billion, less than analysts were expecting, due to a weak operating performance at its CompuCom division. ODP stock is down 10.3% ahead of the bell, on track to open near its 40-day moving average, which caught a mid-March pullback.
4. The bull notes keep coming for Facebook, Inc. (NASDAQ:FB), with the FAANG stock upgraded to "buy" from "neutral" at Guggenheim earlier. The brokerage firm also boosted its FB price target to $200 from $175 -- a 15.2% premium to last night's close at $173.54. The equity is 1.8% higher in pre-market trading.
5. Weekly jobless claims unexpectedly fell to a 49-year low of 202,000 last week. The Fed's balance sheet and speeches from Cleveland Fed President Loretta Mester and New York Fed President John Williams are also expected. Duluth Holdings (DLTH) will report earnings.

Airline Stocks Outperformed in China

Most Asian markets ended modestly higher today, led by mainland China stocks on reports that the U.S. and Beijing are making progress on the topic of intellectual property. Airlines were also a pocket of strength, after the State Council vowed to cut infrastructure levies beginning July 1. China's Shanghai Composite closed up 0.9%, while South Korea's Kospi edged up 0.2% and Japan's Nikkei eked out a 0.05% gain. Hong Kong's Hang Seng diverged from the pack, closing down 0.2% as traders took a cautious approach ahead of a long holiday weekend.

European equity benchmarks are wobbling around breakeven this morning. Basic resources stocks are giving back some of their recent gains driven by U.S.-China trade optimism as traders await new developments between the two countries. Meanwhile, Commerzbank is on the upswing in Frankfurt, up 3.2% after the Financial Times reported that Italy's UniCredit could be prepared to make a bid for the German lender if its talks with Deutsche Bank fall apart. At last check, Germany's DAX is up 0.2%, the French CAC 40 is off 0.3%, and London's FTSE 100 is 0.6% lower.

The Dow Jones Industrial Average (DJI) has tacked on more than 140 points at midday, with all eyes on trade talks between the U.S. and China. President Donald Trump is meeting with Chinese Vice Premier Liu He today, and reports indicate he will announce the date of trade talks with Chinese President Xi Jinping this afternoon. However, while the Dow is eyeing its highest close since October, the S&P 500 Index (SPX) is sticking close to breakeven, and the Nasdaq Composite (IXIC) is in the red, dampened by Tesla's (TSLA) disappointing first-quarter Model 3 deliveries. 

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

• FDA seizure warning can't knock down this tobacco giant.  
• 3 FAANG stocks one analyst loves right now. 
• Plus, Lyft options debut; Recro Pharma rallies; and Office Depot shares slide. 

Ride-share concern Lyft Inc (NASDAQ:LYFT) began trading options today. So far, the equity has seen about 12,000 calls change hands, compared to just over 5,000 puts. Most active is the May 100 call, where more than 5,500 contracts have traded. The option has seen a mix of buyer- and seller-driven activity, with buyers expecting the Wall Street freshman to topple $100 by May options expiration, and sellers expecting a century-mark ceiling for LYFT. At last check, the equity has added 3.1% to trade at $72.17 -- back above its initial public offering (IPO) price.

Specialty pharmaceutical concern Recro Pharma Inc (NASDAQ:REPH) is one of the best performers on the Nasdaq, after cutting 50 jobs in order to cut costs, and lifting its 2019 revenue forecast. The stock is up 20.2% at $7.83 in response. REPH has a ways to go before filling its March 25 bear gap, but is attempting to close atop its 20-day moving average for the first time since then.

Office supply chain Office Depot Inc (NASDAQ:ODP) is near the bottom of the Nasdaq today, after issuing a disappointing first-quarter forecast, due in part to weak performance from its CompuCom IT services unit. The security is pacing for its worst day since August 2017, down 20.6% at $2.99. 

The Dow rose convincingly today on hopes for a U.S.-China trade deal. The S&P 500 also managed to settle in positive territory -- bringing its daily win streak to six, the longest since February 2018 -- though the Nasdaq failed to mimic that strength, ending in the red as tech and Tesla shares weighed. While trade talks will likely continue to grab Wall Street's attention, tomorrow morning's nonfarm payrolls report will also receive plenty of focus, especially following Wednesday's weak jobs data.

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

• Analysts, options traders circled this Tesla rival.
• Weed stock Canopy Growth could be set to rally.
• Stock indexes flashed a rare bullish signal.
• Plus, Roku dinged by Apple fears; traders target oilfield services stock; and another Etsy bull note.

The Dow Jones Industrial Average (DJI - 26,384.63) added 166.5 points, or 0.6%, with 19 of 30 Dow components closing higher. The best performance was a 5% gain in Dow (DOW), while Merck (MRK) had the worst day, losing 1.6%.

The S&P 500 Index (SPX - 2,879.39) tacked on 6 points, or 0.2%, while the Nasdaq Composite (IXIC - 7,891.78) lost 3.8 points, or 0.05%.

The Cboe Volatility Index (VIX - 13.58) shed 0.2 point, or 1.2%.

5 Items on our Radar Today

1. In the latest twist between the U.S. and China's Huawei, prosecutors revealed that the U.S. obtained information on the company through secret surveillance that it plans on using in court. No details were given, but the U.S. told Huawei it retrieved the information through "electronic surveillance and physical search." (Reuters)
2. Snapchat will begin including games in its app as it tries to gain access in the growing space of multiplayer gaming. The first game will be called "Bitmoji Party," with other games due out in the future. (MarketWatch)
3. Roku stock was downgraded on Apple concerns.
4. Why this price point is so crucial for one oilfield services stock.
5. Inside the latest Etsy bull note.

Data courtesy of Trade-Alert

Oil Prices Fall for Second Straight Day

Domestic supply concerns kept pressure on oil prices for a second straight day. May crude futures finished down 36 cents, or 0.6%, at $62.10 per barrel.

Gold prices pared much of their intraday decline, but still closed below breakeven. June gold futures dropped $1 to settle at $1,294.30 an ounce.

Stock futures are signaling a higher open, after a report from China's Xinhua News Agency indicated Chinese President Xi Jinping communicated to U.S. President Donald Trump through Vice Premier Liu He that significant headway had been made in trade negotiations between the two countries, and a deal should made as quickly as possible. Traders are also digesting a stronger-than-expected nonfarm payrolls report, which showed the U.S. added 196,000 new jobs in March. Against this backdrop, Dow Jones Industrial Average (DJI) futures are trading above fair value, with the blue-chip index set for a big weekly gain.

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

• This bank stock sent up a bear alarm ahead of earnings.
• Citigroup said "sell" this U.K. software stock.
• Analysts target new highs for Etsy, Twitter stocks.
• Plus, Morgan Stanley upgrades Bed Bath & Beyond; Duluth earnings disappoint; and the drug stock selling off on a halted cancer study.

5 Things You Need to Know Today

1. The Chicago Board Options Exchange (CBOE) saw 846,444 call contracts traded on Thursday, compared to 496,533 put contracts. The single-session equity put/call ratio rose to 0.59, and the 21-day moving average remained at 0.62.
2. Morgan Stanley upgraded Bed Bath & Beyond Inc. (NASDAQ:BBBY) to "equal weight" from "overweight," and lifted its price target by $7 to $20, saying news of a potential proxy fight between a group of activitist investors and the retailer's board of directors will likely dictate stock performance until the company's annual shareholder meeting" -- expected in June. BBBY stock is up 3.8% in electronic trading, and could attempt to close a late-September bear gap near $18.80.
3. Duluth Holdings Inc (NASDAQ:DLTH) reported fourth-quarter earnings of 64 cents per share on $250.5 million in revenue -- well below consensus estimates. The Wisconsin-based retailer also gave weaker-than-anticipated 2019 guidance. Price-target cuts from D.A. Davidson (to $19) and Stifel (to $21) are ramping up pressure, with DLTH stock down 21% ahead of the bell, set to trade at levels not seen since last June.
4. The shares of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) are bracing for a 15.7% drop out of the gate, after the drugmaker said it has suspended an early stage study for its MM-310 therapy to treat solid tumors following a review of safety data, and will no longer develop the treatment. After closing last night at $7.19, MACK stock is on track to trade below its 40-day moving average for the first time since early 2019.
5. Ahead of next week's release of the minutes from the latest Fed meeting, Atlanta Fed President Raphael Bostic will speak.

Trade Optimism Fuels Upside for Most Global Stocks

Asian markets closed higher following a statement from Liu that a "new consensus" had been reached between the U.S. and China. While China’s Shanghai Composite and Hong Kong’s Heng Seng were closed for holiday, Japan’s Nikkei closed 0.4% higher, led by exporters, and South Korea’s Kospi closed 0.1% higher.

European markets are mixed at midday, afteTrump said a U.S.-China trade pact may still be "four weeks" away. At last check, London’s FTSE 100 is 0.2% above breakeven, the German DAX is 0.08% lower, and the French CAC 40 is 0.3% higher.

The Dow Jones Industrial Average (DJI) is headed for another day of gains, after the March jobs report helped to quell investor anxiety over the health of the economy. All eyes are still on U.S.-China trade talks, too, with President Donald Trump saying "we'll know over the next four weeks" if the two countries can reach a consensus. Against this backdrop, the S&P 500 Index (SPX) is eyeing a seventh straight win, and the Dow, SPX, and Nasdaq Composite (IXIC) are all pacing for healthy weekly gains. 

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

• This restaurant giant could see more upside ahead. 
• The red-hot pot stock burning up shorts. 
• Plus, options bears pile on DISH; TROV's leukemia trial looks promising; and LIVN stock sees sales drop. 

DISH Network Corp (NASDAQ:DISH) is seeing an unusual amount of options trade today. So far, the equity has seen about 1,800 puts change hands, nearly three times the average intraday volume. Most active is the June 32.50 put, where it looks like the options are being bought to open, with traders expecting shares of the broadcasting concern to slip in the short term. At last check, DISH was trading up 1.1% at $34.18, set for its highest close since October. 

Pharma stock Trovagene Inc (NASDAQ:TROV) is near the top of the Nasdaq today, after a positive update on its early-stage leukemia treatment trial. The company also said that Lincoln Park Capital Fund plans to invest $1.5 million in the cancer drug developer. As a result, the shares are up $15.6% at $4.16, but struggling to climb atop their 200-day trendline. 

LivaNova PLC (NASDAQ:LIVN) is near the bottom of the Nasdaq today, after unveiling disappointing preliminary first-quarter earnings. LIVN stock is down 27.1% at $70.41 in response. The equity just bottomed out at an 18-month low, and dropped well below its 40-day moving average -- a recent area of support for LIVN.