Stock Futures Struggling Amid Tax Plan Concerns
Dow Jones Industrial Average (DJIA) futures are slumping again this morning, after the index snapped its seven-day win streakyesterday. Concerns over the Senate's proposed plan to delay corporate tax cuts until 2019 -- different from the bill making its way through the House -- is spooking both S&P 500 Index (SPX)and Nasdaq-100 Index (NDX) futures as well, setting all three indexes up for weekly losses. A weekly loss for the Dow and S&P would be the first in nine weeks.
Elsewhere, President Trump continues to rebuke China on his tour of Asia, stating, "We can no longer tolerate these chronic trade abuses." Trump is visiting Vietnam today. On the earnings front, J C Penney (JCP) and Hertz Global (HTZ) were big winners, wrapping up a busy week of reports.
Continue reading for more on today's market, including:
This retail stock could rocket higher by Black Friday, if history repeats.Options traders are blitzing the red-hot tech sector.The biotech stock that got a halo lift from Sage Therapeutics.Plus, Nvidia's earnings beat; Kohl's scores an upgrade; and Third Point cozies up to Alibaba. 
5 Things You Need to Know TodayThe Chicago Board Options Exchange (CBOE) saw 1.03 million call contracts traded on Thursday, compared to 658,122 put contracts. The single-session equity put/call ratio fell to 0.64, while the 21-day moving average stayed at 0.65.NVIDIA Corporation (NASDAQ:NVDA) stock is up 4.7% in electronic trading, on pace for a new all-time high, after the chipmaker reported third-quarter earnings and revenue that exceeded Wall Street's expectations. NVDA stock has already added 193% year-over-year, but could face stiff competition from sector peers in the coming year.Kohl's Corporation (NYSE:KSS) stock is up 0.8% ahead of the bell this morning, after receiving an upgrade to "outperform," and a $1 price-target hike to $47, at Baird. The upgrade comes despite the department store reporting disappointing earnings yesterday. KSS stock has shed 16% year-to-date, but recovered from yesterday's initial swoon to end higher.Alibaba Group Holding Ltd (NYSE:BABA), ahead of its vaunted Singles Day tomorrow, is getting a boost, after Third Point increased its stake in the Chinese e-commerce giant by 2.1 million shares. BABA stock is pointed 0.7% higher in pre-market trading, and touched an all-time high of $191.22 on Nov. 2.
The University of Michigan's consumer sentiment survey and the Treasury budget will be released today.
Overseas Trading
It was a mostly lower finish in Asia today, as traders digested the details in U.S. Senate Republicans' tax reform proposal and President Donald Trump's comments on trade with the region. Japan's Nikkei shed 0.8% as the yen strengthened and Toshiba tumbled on speculation of a new share offering. South Korea's Kospi and Hong Kong's Hang Seng also closed lower, shedding 0.3% and 0.05%, respectively. China's Shanghai Composite, however, added 0.2%, following reports the government is going to relax regulations on foreign stock ownership for the financial sector.
European stocks are lower at midday, with another round of dismal earnings reports driving the bearish price action. Among the stocks plummeting post-earnings are Italian aerospace name Leonardo and German industrial giant Siemens. At last check, London's FTSE 100 was off 0.5%, the French CAC 40 was down 0.2%, and the German DAX was 0.03% lower.