Stock Futures Higher Ahead of Fed Symposium
Weekly jobless claims fell more than expected last week
Dow Jones Industrial Average (DJI) futures are trading modestly above fair value, with the blue-chip index set to build on yesterday's retail-focused rally. The Fed's annual symposium in Jackson Hole, Wyoming, will kick off later today, whereFed presidents will comment on the global economy. Investors will be eager for any details about U.S. monetary policy, especially after the Fed's July meeting minutes reiterated Fed Chair Jerome Powell's stance that the recent rate cut was not part of a "pre-set course." Elsewhere, weekly jobless claims declined more than expected last week.
Continue reading for more on today's market, including:
Signal says Burlington stock could join retail rally.Analyst: This biotech stock could double.CyberArk stock just locked up its fourth straight win.Plus, Dick's is the latest retail winner; bull notes galore for Target; and post-earnings bear notes pour in for Pure Storage. 
5 Things You Need to Know Today
The Cboe Options Exchange (CBOE) saw 939,289 call contracts traded on Wednesday,compared to 567,470 put contracts. The single-session equity put/call ratio fell to 0.60, while the 21-day moving average remained at 0.71.The latest retail winner is Dick's Sporting Goods Inc (NYSE:DKS), up 6.7% in electronic trading, after the company reported second-quarter earnings, revenue, and same-store sales all above expectations. Dick's also raised its full-year guidance. Prior to today, DKS was only up 5.6% year-to-date, closing last night at $32.97.One day removed from its blowout quarterly report, Target Corporation (NYSE:TGT) stock is up 1.6% ahead of the bell, thanks to an upgrade to "buy" from "neutral" at Citi, which called the company a "winner in the retail landscape." Citi also upped its price-target to $130 from $80, joining five other brokerages issuing price-target hikes this morning. This has TGT set to open at fresh record highs.The shares of Pure Storage Inc (NYSE:PSTG) are up 7.8% in electronic trading, after the flash drive storage specialist reported a second-quarter earnings and revenue win. The company did reduce its full-year outlook, though, prompting four price-target cuts this morning. PSTG traded at a two-year bottom of $12.68 as recently as Aug. 5.The Fed's balance sheet is due today. Wall Street will also comb through earnings from Children's Place (PLCE), Gap (GPS), Hormel Foods (HRL), HP (HPQ), Intuit (INTU), Ross Stores (ROST), and VMware (VMW).
European Markets React to PMI Data
It was a mixed finish in Asia today, after preliminary data showed manufacturing in Japan contracted for a fourth straight month in August. Japan's Nikkei eked out a 0.05% gain on a strong day for cosmetics stock Shiseido, while China's Shanghai Composite also finished higher, adding 0.1%. On the flip side, Hong Kong's Hang Seng gave back 0.8% as real estate stocks slipped on political protest worries, and South Korea's Kospi fell 0.7%.
European markets are mostly lower at midday, as traders weigh a round of regional flash composite PMI data from IHS Markit. While manufacturing activity in German, France, and the broader eurozone all beat estimates in August, data from the former showed factory orders fell at their quickest clip in six years. At last check, the German DAX is up 0.2%, while the French CAC 40 is down 0.2%, and London's FTSE 100 is off 0.4%.