The DJIA is trading in a narrow range today, with retail stocks in focus
The Dow Jones Industrial Average (DJIA) is sticking to its narrow trading range today, though all of the action has occurred to the downside. Retail stocks have remained in the spotlight, after the latest round of earnings and April retail sales data. Meanwhile, following this morning's inflation data, Chicago Fed President Charles Evans said he "could see two more rate increases this year," but he'd be "very surprised" if it was more. While the Dow and S&P 500 Index (SPX) are on pace for weekly losses, though, the Nasdaq Composite (COMP) has edged into positive territory, and is poised for a fourth consecutive weekly win.
Continue reading for more on today's market -- and don't miss:
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- Plus, JCP options bears cash in; the tech stock up 25%; and Cyberark guidance disappoints.
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Among the names with accelerated options activity is J C Penney Company Inc (NYSE:JCP), with nearly 85,000 contracts on the tape, or six times the expected intraday pace. JCP stock is down 9.5% at $4.79 after earnings -- fresh off a record low of $4.73, and short-sale restricted -- and puts are outnumbering calls 2-to-1. Most of the action has centered at the weekly 5/12 5-strike put, where some options traders seem to be selling to close their in-the-money positions.
Trade Desk Inc (NASDAQ:TTD) is one of the biggest gainers on the Nasdaq, after the tech company's strong earnings was met with applause from the brokerage bunch. At last check, TTD stock was trading up 24.8% at $49.80, after earlier hitting a record peak at the round $50 mark.
Cyberark Software Ltd (NASDAQ:CYBR) is one of the leading laggards on the Nasdaq, with the shares down 10% at $49.60. CYBR stock is getting smacked by the cybersecurity firm's disappointing current-quarter guidance, and is now on track to close below its 50-week moving average for just the second time in 2017.