Dow Jones Industrial Average Set to Spike

The Dow Jones Industrial Average (DJIA) looks ready to run following Wednesday's push-and-pull session. While disappointing retail sales drove yesterday's action, today's focus will be on weekly jobless claims, inflation numbers, and earnings from a handful of notable names -- including Shake Shack Inc (NYSE:SHAK), which is up 7% in electronic trading. Additionally, Wall Street will keep one eye trained overseas, where European Central Bank President Mario Draghi is slated to speak at 11 a.m. ET.

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

• The M&A buzz surrounding Cisco Systems, Inc. (NASDAQ:CSCO), WhiteWave Foods Co (NYSE:WWAV), and Owens-Illinois Inc (NYSE:OI). 
• Zebra Technologies Corp. (NASDAQ:ZBRA) saw a double-digit percentage gain following its first-quarter results -- while this aerospace name just zapped its year-to-date lead.
• How option bears have been hammering this stumbling luxury accessories designer.   

Futures on the Dow Jones Industrial Average (DJIA) are more than 111 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 796,087 call contracts traded on Wednesday, compared to 449,568 put contracts. The resultant single-session equity put/call ratio fell to 0.56, while the 21-day moving average edged up to 0.64.

Currencies and Commodities

• The U.S. dollar index is down 0.3% at 93.31.
• Crude oil is poised to bounce back from yesterday's slip, up 0.2% at $61.59 per barrel.
• Gold, meanwhile, is off 0.1% at $1,216.60 per ounce.

 Earnings and Economic Data

Weekly jobless claims and the producer price index (PPI) will come out today. Stepping up to the earnings mic are Applied Materials (AMAT), El Pollo Loco (LOCO), King Digital Entertainment (KING), Kohl's (KSS), Nordstrom (JWN), Qiwi (QIWI), and Symantec (SYMC). To see what else is on this week's agenda, click here.

Overseas Trading

It was a mixed finish in Asia, as traders digested lackluster economic data out of the U.S. South Korea's Kospi outpaced its regional peers with a 0.3% gain, while China's Shanghai Composite and Hong Kong's Hang Seng each tacked on 0.1%. Japan's Nikkei, meanwhile, shed 1% amid a plunge in railroad names and a strengthening yen.

European benchmarks are higher at midday, with the German DAX up 0.6% and the French CAC 40 0.5% higher. London's FTSE 100, however, is struggling to gain steam due to pressure from the mining sector, and was last seen flirting with a 0.05% lead.