Stock Futures Rise Before Start of 2020
Stocks are set to start 2020 with strong gains
U.S. stock futures are pointing to a strong first day of 2020. The Dow Jones Industrial Average (DJI) is set to jump more than 100 points, and the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are on pace to follow suit, as traders monitor strong gains for Chinese equities and weekly jobless claims that came in slightly lower than expected. This comes after upbeat trade buzz helped guide stocks higher ahead of the New Year's holiday.
Continue reading for more on today's market, including:
This Dow stock we're watching this new year.How new NDX stocks could perform, according to Schaeffer's Senior Quantitative Analyst Rocky White.Plus, Tesla shares upgraded; a penny stock to watch; and Ford rating lowered. 
5 Things You Need to Know Today
The Cboe Options Exchange (CBOE) saw 760,187 call contracts traded on Tuesday, compared to 422,179 put contracts. The single-session equity put/call ratio slipped to 0.56, while the 21-day moving average stayed at 0.57. Tesla Inc (NASDAQ:TSLA) is looking to stay hot going into the new year, after Canaccord Genuity raised its price target to $515 from $375. The shares hit an all-time high of $435.31 last week, and Canaccord believes demand for the company's electric vehicles will remain strong. The company also just announced it'll deliver the latest batch of its China-made Model 3s on Jan. 7. One penny stock making moves this morning is Trillium Therapeutics Inc. (NASDAQ:TRIL), up 18.5% before the open on news Morgan Stanley has upped its stake in the immuno-oncology expert. The stock had an impressive December, rising from the $0.30 area to a Dec. 26 high of $1.17. Ford Motor Company (NYSE:F) is on the receiving end of bearish analyst attention to start the year, with Evercore ISI lowering its outlook on the shares to "underperform" from "in-line." The auto stock is currently sitting right below its 200-day moving average.Weekly jobless claims, weekly crude inventories, and the Markit manufacturing PMI will roll in today. There are no earnings on the docket.
Stocks in Asia Have Strong Day
Markets in Asia tacked on mostly big gains today thanks to some encouraging economic data out of China. China's Shanghai Composite added 1.2%, after the Markit/Caixin Purchasing Managers' Index (PMI) fell to 51.5 in December, by a margin that was below the analyst expectations of 51.8. Meanwhile, the People's Bank of China announced that it would lower the reserve requirement ratio for banks by 50 basis points, effective on Monday. Hong Kong's Hang Seng also added 1.2%, with life insurer AIA leading the charge. Rounding out the region, South Korea's Kospi bucked the regional trends and gave back 1%, after export data fell in December. Japan's Nikkei was closed for the holiday.
Stocks in Europe are higher at midday, taking cues from the U.S.-China phase one trade deal that will reportedly be signed on Jan. 15, according to President Donald Trump's tweet on Tuesday. London's FTSE 100 is up 0.9%, after U.K.'s manufacturing PMI was revised up to 47.5 for December. The French CAC 40 is pacing the region with 1.3% lead, while the German DAX is 0.9% higher thanks to a big day from bank stocks.