Stock Futures Sizzling After Tech Earnings, Upbeat GDP Report
Dow Jones Industrial Average (DJIA) futures are higher this morning, as the Dow eyes its seventh straight weekly win and markets react to another round of excellent earnings reports. Most notably, the Nasdaq-100 Index (NDX) is set to outperform, thanks to outstanding results from tech all-stars Intel (INTC), Microsoft (MSFT), Amazon (AMZN), and Alphabet (GOOGL). Elsewhere, stocks are reacting to the third-quarter reading on gross domestic product (GDP), which increased at an annual rate of 3%, higher than the 2.5% estimate.
Continue reading for more on today's market, including:
The FAANG stock that could be flashing "buy" before earnings.This retail stock could have room to run.Options traders won big on this software stock.Plus, Tesla's production issues; Gilead Sciences' drug concerns; and J C Penney's ugly outlook. 
5 Things You Need to Know TodayThe Chicago Board Options Exchange (CBOE) saw 1,077,235 call contracts traded on Thursday, compared to 660,915 put contracts. The single-session equity put/call ratio fell to 0.61, while the 21-day moving average rose slightly to 0.647. Tesla Inc (NASDAQ:TSLA) will reportedly slash orders for Model 3 parts from a Taiwanese supplier. Meanwhile, a downgrade to "in line" from "outperform" at Evercore ISI -- which cited a "cautious view on Model 3 production -- has the equity down 1.2% before the bell. Tesla stock has still managed to tack on 52% for the year. The electric vehicle maker will report earnings on Wednesday, Nov. 1.Gilead Sciences, Inc. (NASDAQ:GILD) stock is down 2.1% in electronic trading, despite the drugmaker reporting earnings and revenue above Wall Street forecasts. Investors are apparently concerned about Gilead's weak sales outlook for its hepatitis C treatment. Retail stock J C Penney Company Inc (NYSE:JCP) is down over 25% in electronic trading, after the firm slashed its full-year forecast. JCP stock is now headed for record-low territory, with several other retailers also pointed lower in sympathy.Merck (MRK), Chevron (CVX), Exxon Mobil (XOM), Goodyear Tire (GT), and Phillips 66 (PSX) will round out the earnings plate today.
Overseas Trading
Asian stocks closed broadly higher, as buyers hit the market following what was seen as a dovish decision by the European Central Bank (ECB) yesterday. Japan's Nikkei led the way once again, rising 1.2% for its highest close in 21 years, thanks to strong earnings from large-cap tech firms. Earnings were in focus in China, too, and the results were mostly well-received. Hong Kong's Hang Seng added 0.8%, while the Shanghai Composite managed a 0.3% win. In South Korea, the Kospi settled up 0.6%.
The bullish backdrop can be found in Europe, as well. The French CAC 40, German DAX, and FTSE 100 are all higher, sporting respective gains of 0.8%, 0.7%, and 0.2%. Traders continue to react to yesterday's ECB update, while digesting positive earnings from the technology sector. Exporters, meanwhile, benefitted from ongoing weakness from the euro.