Caterpillar, Oil Push Dow Jones Industrial Average Up Triple Digits

This Dow Stock Could Trade at Record Highs

by Karee Venema |

Published on May 19, 2017 at 12:01 PM

The Dow Jones Industrial Average (DJIA) is trading higher, with industrial giant Caterpillar (CAT) leading the charge as traders cheer Deere earnings. Rising energy stocks are also providing tailwinds, as June-dated crude futures jump 2% to trade above $50 per barrel on optimism over continued supply cuts. Traders are also digesting dovish words from St. Louis Fed President James Bullard, who said the Fed may be "overly aggressive" in its rate hike timeline, given recent lackluster economic data. But while the Dow is on track for a second straight triple-digit gain, Wednesday's stock market sell-off has the blue-chip barometer on track for a weekly loss. 

Continue reading for more on today's market -- and don't miss:

  • 2 tech stocks at new highs after earnings.
  • This Dow stock could trade at record highs soon.
  • Plus, Foot Locker sinks; Nike options are hot; and a relatively rare upgrade for Lumber Liquidators stock.

midday stock market stats may 19

Foot Locker, Inc. (NYSE:FL) is one of the leading decliners on the New York Stock Exchange, after the athletic apparel retailer reported dismal earnings. Most recently, FL stock was trading down 14.8% at $59.99, and on pace to close south of its 320-day moving average for the first time since its late-August bull gap.

fl stock daily price chart may 19

Among the equities with unusual options activity is Nike Inc (NYSE:NKE), with nearly 37,000 contracts traded -- five times the expected intraday rate. Most active is the January 2018 50-strike call, while shorter-term traders are targeting the May 52 call. NKE options traders appear to be purchasing new positions at both strikes. After taking an initial dip on Foot Locker-related headwinds, NKE stock was last seen up 0.7% at $52.03.

Lumber Liquidators Holdings Inc (NYSE:LL) is one of the biggest gainers on the NYSE, after Oppenheimer issued a relatively rare upgrade to "outperform" from "perform." LL stock is up 12.7% at $29.55 -- fresh off an annual high of $29.77 -- and has added nearly 52% since breaching the round $20 mark after earnings earlier this month.

JOIN FREE

Receive Bernie Schaeffer’s Opening View, a complete analysis of all of the market news you need to know before the opening bell rings every day.


MORE | MARKETstories


Options Traders Hit Hasbro, Mattel After Toys R Us Bankruptcy
Put volume has been accelerated on both stocks this week
This Momo Stock Buy Signal Shouldn't Be Missed
MOMO recently pulled back to its 160-day moving average
Dow Looks To Extend Hot Streak
The Dow is on track for its longest winning streak since early August

Partnercenter


TRADING SERVICES | FEATUREDproducts


By MG 2016
In March of 2016, I was introduced to Expiration Week Countdown.  The results are better than words!
Options trading made simple.
Schaeffer's Investment Research, Inc. is dedicated to providing subscribers advantages in options trading and investing.  Our independent market research services create profitable opportunities for investors at every level.