JPMorgan, Goldman Keep Dow Higher at Midday

The Dow Jones Industrial Average (DJI) is trading higher today, as big-cap bank stocks JPMorgan Chase (JPM) and Goldman Sachs (GS) pop after the Fed's annual stress tests opened the door for dividend hikes. However, the upside is modest as caution sets in ahead of this weekend's highly anticipated meeting between U.S. President Donald Trump and Chinese leader Xi Jinping. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are gaining ground, too, and even as all three indexes are set to snap their weekly win streaks, they are boasting impressive June returns.

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

• Analyst: This Dow stock has double-digit return potential.
• The bull note calling for AutoZone record highs.
• Plus, options bull targets emerging markets ETF; a big day for Constellation Brands; and the spice stock near the bottom of the S&P.

The iShares MSCI Emerging Markets ETF (EEM) is seeing accelerated options trading ahead of this weekend's Trump-Xi meeting. Nearly 72,000 calls have traded, 1.3 times what's typically seen. It looks like one speculator bought to open 20,000 August 44 calls for $0.67 each, betting on the emerging market exchange-traded fund to break out above $44 over the next seven weeks. EEM shares are down 0.35 today at $42.84, and haven't closed a week above $44 since early May.

Constellation Brands, Inc. (NYSE:STZ) is the best S&P stock at midday, after the beer maker reported strong first-quarter earnings and revenue. STZ shares are up 5.2% at $198.10, set to close above their 40-day moving average for the first time since late May, but running out of steam near the round $200 mark.

McCormick & Company (NYSE:MKC) is near the bottom of the SPX today, after the seasoning specialist reported second-quarter revenue that fell short of expectations. Despite a round of price-target hikes -- including one to $166 from $155 at Citigroup -- MKC stock is down 2.8% at $151.56, but finding support at its rising 80-day moving average.