Disney's separation from Netflix is also weighing down the Dow
The Dow Jones Industrial Average (DJIA) is lower at midday, due to heightened tensions with North Korea and a dismal earnings reaction from Dow stock Disney. The blue-chip index yesterday snapped its winning streak, and today is poised to halt its streak of record highs. The S&P 500 Index (SPX) and Nasdaq Composite (COMP) are also lower, while the CBOE Volatility Index (VIX) -- or the stock market's "fear gauge" -- paces for its highest close in a month.
Continue reading for more on today's market -- and don't miss:
- How Netflix options traders are responding to the Disney rejection.
- The biotech stock expected to double.
- Plus, Macy's spiking call volume; Hertz's big day; and a continued slide from TRIP stock.
Among the stocks with unusual volume is retail stock
Macy's Inc (NYSE:M), with roughly 11,000 calls traded. That is double the average intraday pace, and on track for the 90th percentile of its annual range. The September 24 call is the most active, accounting for 5,200 contracts. M stock is currently down 0.4% to trade at $23.43, asthe company prepares to
report earnings tomorrow.
Hertz Global Holdings, Inc (NYSE:HTZ) stock is trading near the top of the NYSE, up 20% at $17.14, after well-received earnings. The boost today continues the rental car stock's pattern of big post-earnings moves, and has the shares testing their 180-day moving average, a level the stock has not surpassed since September 2016.
Travel stock
Tripadvisor Inc (NASDAQ:TRIP) is trading near the bottom of the S&P 500 today, down 7.6% at $36.49, after issuing a disappointing current-quarter forecast. The drop today has TRIP shares
dangerously close to its multi-year low of $35.34, which it fell to on June 21.