Dow Futures Up After Inflation Data
Wall Street is watching Trump's Twitter feed this morning, too
Dow Jones Industrial Average (DJI) futures are modestly above fair value this morning, after the blue-chip index muscled to a fifth straight win on Tuesday. This comes after China's Finance Ministry unveiled a list of U.S. goods exempt from retaliatory tariffs, including cancer drugs and pesticides. Traders are also eyeing the latest producer price index (PPI), which edged up 0.1% in August, while wholesale inflation rose 0.4%, as well as President Donald Trump's Twitter feed. In addition to tweeting about "Fake News" this morning, the president has also suggested the Fed bring "interest rates down to ZERO, or less."
Continue reading for more on today's market, including:
How to play a growth/value ratio reversal, courtesy of Schaeffer's Senior Quantitative Analyst Rocky White.Breaking down the six-figure Chesapeake Energy options bet.Why Cboe Global Markets stock looks ripe for a bullish trade.Plus, more bull notes for Micron; the retail stock set to soar; and a devastating quarter for GameStop. 
5 Things You Need to Know Today
The Cboe Options Exchange (CBOE) saw 1.15 million call contracts traded on Tuesday, compared to 747,046 put contracts. The single-session equity put/call ratio rose to 0.65, while the 21-day moving average stayed at 0.83.Longbow Research upgraded Micron Technology, Inc. (NASDAQ:MU) to "buy" from "neutral," citing improving trends in memory fundamentals. Wells Fargo also chimed in, raising its MU price target to $60 from $50. This brings the number of bull notes Micron has received this week to three, and has the chip stock up 1.8% ahead of the bell -- eyeing its first trek above the round $50 mark since last September.Furniture retailer Lovesac Co (NASDAQ:LOVE) reported a slimmer-than-anticipated second-quarter loss of 31 cents per share, while revenue of $48.1 million -- up 44.8% year-over-year -- also beat the consensus estimate. After closing last night at $18.41, down 19.8% year-to-date, LOVE stock is poised to jump 20% out of the gate.The shares of GameStop Corp. (NYSE:GME) are down 16.5% in electronic trading, after the video game retailer said new hardware sales plunged 41% in the second quarter. As such, GME's second-quarter loss of 32 cents per share missed the consensus estimate, while quarterly revenue sank 14.3%, and same-store sales slumped 11.6%. The stock had been rebounding off its Aug. 15 bottom at $3.15, but recently ran into resistance at its 80-day moving average.Crude inventories data is due. Aurora Cannabis (ACB) and Tailored Brands (TLRD) will report earnings.
Stimulus Hopes Boost Hong Kong, European Stocks
Markets in Asia were mostly higher today, with China's Shanghai Composite being the exception, down 0.4% following news that the country's Ministry of Finance will leave 16 American products exempt from more tariffs. Stimulus expectations buoyed stocks in Hong Kong, specifically in the financial and property sectors, with the Hang Seng up 1.8% to a new six-week high. South Korea's Kospi got a lift, too, tacking on 0.8%. Elsewhere, Japan's Nikkei collected a 1% win as the yen continues to weaken.
European stocks are up at midday, as investors eye Thursday's European Central Bank (ECB) decision with hopes of a new government stimulus package. The French CAC 40 is up 0.6%, while the DAX in Germany has added 0.9%. Meanwhile, London's FTSE 100 is up nearly 1% on merger developments, with London Stock Exchange Group (LSE) trading more than 5% higher after Hong Kong Exchanges and Clearing Limited (HKEX) proposed an unsolicited $36.6 billion takeover.