China Trade Comments Boost Stock Futures

Dow Jones Industrial Average (DJI) futures are roaring this morning -- putting the blue-chip index on track to build on yesterday's retail-fueled rally -- amid upbeat U.S.-China trade headlines. With President Donald Trump's latest round of tariffs on Chinese goods set to go into effect this Sunday, Sept. 1, Gao Feng of China’s Commerce Ministry said that while Beijing has "ample means for retaliation ... the question that should be discussed now is about removing new tariffs to prevent escalation of the trade war." Elsewhere, weekly jobless claims climbed modestly last week, while the latest reading on second-quarter gross domestic product (GDP) was revised down to 2% from 2.1%, on par with estimates. 

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

• This China stock is expected to surge 50%. 
• 2 mining stocks with cheap options.
• Monster Beverage stock just gained "Top Pick" status.
• Plus, Dollar General jumps after earnings; tariff troubles weigh on Best Buy; and Disney+ projections looking good.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 773,692 call contracts traded on Wednesday, compared to 492,053 put contracts. The single-session equity put/call ratio remained at 0.64, while the 21-day moving average remained at 0.73.
2. Dollar General Corp (NYSE:DG) stock is up 7.8% in electronic trading, after the discount retailer reported second-quarter earnings, revenue, and same-store estimates that topped expectations. The company also upped its full-year guidance. DG is poised to topple its July 17 record high of $145.06 this morning.
3. On the other end of the spectrum is Best Buy Co Inc (NYSE:BBY) stock, down 5.8% ahead of the bell. The electronics retailer reported second-quarter earnings above estimates, but revenue, same-store sales, and full-year comparable sales guidance missed their mark thanks to rising U.S. tariffs on Chinese goods on tech products. BBY was up 30% year-to-date through last night's close at $69, but is down 10% so far in August.
4. The shares of Walt Disney Co (NYSE:DIS) are up 1.3% in electronic trading today, after a UBS survey indicated projections for the company's Disney+ streaming service may have been underestimated. Around 43% of households plan to subscribe, much higher than Disney's anticipated 20%-30%. DIS stock is up 24.5% year-to-date through Wednesday's close at $136.55, with recent support emerging at the 120-day moving average.

5. International trade data, pending home sales, and the Fed's balance sheet will be released today. On the earnings front, Abercrombie & Fitch (ANF), Ambarella (AMBA), Dell (DELL), Marvell (MRVL), and Workday (WDAY) will all report. 

Samsung Stocks Weigh on Kospi; Europe Eyes Italian Politics

It was a mostly lower finish in Asia today. South Korea's Kospi was the biggest laggard, shedding 0.4% as Samsung stocks fell on reports a top court ruled against heir Lee Jae-yong in a bribery case. Elsewhere in the region, China's Shanghai Composite and Japan's Nikkei slipped 0.1% apiece, while Hong Kong's Hang Seng managed a 0.3% gain.

European stocks are higher at midday, amid easing U.S.-China trade tensions and a stabilizing political backdrop in Italy, where President Sergio Mattarella has given the go-ahead for the 5-Star Movement and Democratic Party to form a new coalition. At last check, the French CAC 40 is up 1.4%, the German DAX is 1.1% higher, and London's FTSE 100 is flirting with a 1% gain.