Dow Futures Up Over 600 Points as Oil Prices Retreat

Wall Street looks poised for another day of big swings, as stock futures surge to kick off the week amid falling oil prices. West Texas Intermediate (WTI) crude was last seen down 4.6% at $86, sending Dow Jones Industrial Average (DJI) futures up 604 points, while the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) also sport solid pre-market gains. The rebound comes after last week's volatile trading, which saw the Nasdaq Composite (IXIC) briefly enter correction territory. This week, investors are looking forward to earnings from several AI-adjacent names.

Continue reading for more on today's market, including:

• 2 ways to play earnings reports this week. 
• A quick rundown of last week's market volatility. 
• Plus, DKNG flooded with bear notes; AMD rises on upgrade; and NVDA slides amid CEO investigation. 

5 Things You Need to Know Today

1. The Cboe Option Exchange saw a whopping 2.7 million call contracts and 1.6 million put contracts traded on Friday. The single-session equity put/call ratio fell to 0.59, while the 21-day moving average dropped to 0.58. 
2. DraftKings Inc (NASDAQ:DKNG) is down 3% premarket, after a flood of analyst bear notes. J.P. Morgan Securities, UBS, and Stifel all issued downgrades, while no fewer than seven other firms chimed in with price-target cuts. Looking to extend last session's post-earnings plummet to three-year lows, DKNG is coming into today with a 46.3% year-to-date deficit. 
3. Advanced Micro Devices Inc (NASDAQ:AMD), on the other hand, is up 3.4% before the bell, following an upgrade from Oppenheimer to "outperform" from "market perform." The firm also issued a $600 price target, seeing rebound potential for the chip giant after its recent sharp pullback. Since the start of the year, the equity is up 109.7%. 
4. Nvidia Corp (NASDAQ:NVDA) is down 5.5% in electronic trading, after Nvidia's board launched an independent investigation into CEO Jensen Huang's relationship with a business executive identified by U.S. intelligence as a Chinese spy. NVDA has already lost 21.4% over the last month amid recent tech woes. 
5. Inflation data highlights this week's quiet schedule. 

China's PPI Hits 5.7%

Asian stocks finished the session mixed, as investors digested wholesale data out of China. The region's producer price index (PPI) rose to 5.7% in October, its fastest pace in four years and above the 5.3% estimate. Japan’s Nikkei climbed 2.3%, Hong Kong’s Hang Seng shed 0.1%, China’s Shanghai Composite rose 0.3%, and South Korea’s Kospi lost 0.8%.

European markets are trading higher, as investors monitor a surge in mining stocks and digest more economic updates. Exports rose higher-than-expected, up 2% in Germany for September, citing demand from the European Union (EU). At last glance, London’s FTSE 100 is up 0.6%, France’s CAC 40 is 0.7% higher, and Germany’s DAX has popped 1%.