Dow Jones Industrial Average, S&P 500 Hit Record Highs

2 Post-Election Standouts With Huge Short-Squeeze Potential

Dec 7, 2016 at 11:53 AM

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The Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) hit record highs earlier, ahead of tomorrow's highly anticipated European Central Bank (ECB) policy meeting. Both indexes remain in positive territory, too, despite a slump in healthcare stocks and crude oil prices -- with January-dated futures down 1.7% at $50.06 per barrel, following a sharper-than-expected weekly build in gasoline and distillate stockpiles. On the data front, monthly job openings ticked higher to 5.5 million in October, matching expectations.

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

A short squeeze could fuel the fire on these 2 post-election outperformers.
Analysts are calling for new highs for Micron Technology, Inc. (NASDAQ:MU).
Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and other noteworthy stats at midday.
Plus... Tech stock surges on activist buzz, Western Digital hits new highs, and Nu Skin sinks on an executive exit.

midday market stats dec 7

Among the stocks with unusual call volume at midday is tech titan Honeywell International Inc. (NYSE:HON), where the contracts are running at 13 times the usual intraday clip. Both the December and March 115 calls appear to be seeing buy-to-open activity. Currently, HON is 2.3% higher at $115.72, with Trade-Alert citing "activist related chatter."

One of the top stocks on the Nasdaq is Western Digital Corp (NASDAQ:WDC), up 6.1% at $67.73, and fresh off an annual high of $68.80. Shares of the data storage firm are running on upbeat guidance and a resultant raft of positive brokerage notes -- with one analyst targeting triple-digit territory.

wdc daily dec 7

Among the top losers on the New York Stock Exchange (NYSE) is Nu Skin Enterprises, Inc. (NYSE:NUS), after reports of a C-suite shakeup and mixed guidance. At last check, the personal care stock has tanked 8% to hover around $47.45.

The CBOE Volatility Index (VIX) is down 0.3 point, or 2.6%, at 11.48 -- and on track for its lowest settlement in four months.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.15, with puts slightly edging out calls. At last check, SPY is up 0.4 point, or 0.2%, at $222.08.

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