Oil's Rise Results in Risk-Off Trading

The Dow's winning streak is in trouble

by Josh Selway

Published on Sep 16, 2019 at 12:04 PM

The Dow Jones Industrial Average (DJI) is lower today, as investors try to gauge the impact of a sharp spike in oil prices on stocks. October crude futures were last seen adding to their recent strength, up 11.6% at $61.20 per barrel in response to the Saudi Arabia attacks. So while energy stocks are making huge moves higher, the rest of the market is struggling, with the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) joining the Dow in negative territory -- threatening the blue-chip index's eight-day win streak.

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

midday market stats sept 16

One name seeing notable options trading is DISH Network Corp (NASDAQ:DISH). The stock is snapping back after three straight down days, last seen trading 2.3% higher at $35.98, and more than 26,000 calls have crossed already -- compared to a daily average volume of just 1,402. Most of the action has been driven by the weekly 9/27 36-strike call, where more than 21,100 contracts have traded.

dish stock sept 16

Alder Biopharmaceuticals Inc (NASDAQ:ALDR) is one of the best stocks on the Street today thanks to a $2 billion buyout offer from Denmark-based Lundbeck. The shares were last seen up 83.2% at $18.43, running to fresh 52-week highs in the process. This comes just days after ALDR stock touched an all-time low of $8.39.

On the flip side, Aimmune Therapeutics Inc (NASDAQ:AIMT) is volatile again, last seen down 6.7% at $23.09, after earlier trading sharply higher. The up-and-down price action comes after a Food and Administration (FDA) panel recommended approving the company's peanut allergy drug. AIMT shares are still down 17.5% year-over-year.

a schaeffer's exclusive

PLAY TRENDS LIKE A PRO!

5 tips to leverage profits in this FREE insider report!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Trend Minting Millionaires -- But Who Is Really Paying?
Porter Stansberry is making a concerning prediction.
Roller Coaster Week Defined by Trade Headlines, Jobs Report
The Dow made outsized moves in both directions this week
Needham is Buying Trade Desk Ahead of the 2020 Election
Trade Desk stock has more than doubled in 2019
The Trend Minting Millionaires -- But Who Is Really Paying?
Porter Stansberry is making a concerning prediction.