tsla

Dow Jones Industrial Average Closes In On Another Weekly Win

Time to Buy NVIDIA and Sell Apple?

Dec 2, 2016 at 11:53 AM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) is spinning its wheels following a mixed jobs report, as uncertainty builds ahead of Italy's constitutional referendum on Sunday. Yet, the Dow is still poised for its fourth consecutive weekly gain. On the other hand, while the broader S&P 500 Index (SPX) and tech-focused Nasdaq Composite (COMP) are trading modestly higher, both are on track to snap their multi-week winning streaks -- which could have negative longer-term implications for stocks.

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

midday market stats dec 2

Among the stocks with unusual options volume at midday is Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA), with the contracts running at 10 times the usual intraday clip. Last-minute speculators are honing in on the weekly 12/2 260-strike call, which is ULTA's most active option. Technically speaking, the retail stock is down 0.9% at $255.10, despite some bullish post-earnings analyst attention.

Semiconductor stock Ambarella Inc (NASDAQ:AMBA) is among the worst performers on the Nasdaq, down 8.3% at $56.28. The shares are getting crushed after the company's disappointing guidance prompted a series of price-target cuts.

amba daily dec 2

Even worse off -- and the top percentage loser on the Nasdaq -- is gun aficionado Smith & Wesson Holding Corp (NASDAQ:SWHC). The shares are down 10.3% at $21.52, and on the short-sale restricted list. Exacerbating losses on the stock are SWHC's gloomy earnings outlook and a pair of price-target cuts.

The CBOE Volatility Index (VIX) is off 0.5 point, or 3.8%, at 13.53.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.46, with puts outpacing calls. At last check, the SPY is up 0.4 point, or 0.2%, at $220.00.

Find out where the Dow lands right after the closing bell. Sign up now for Schaeffer's Market Recap

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.