Schaeffer's 43rd Anniversary Stock Picks in 2024

Fresh Highs For Dow Jones Industrial Average, S&P, and Nasdaq

6 Stocks Approaching Critical Levels

Dec 8, 2016 at 11:55 AM
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The Dow Jones Industrial Average (DJIA)S&P 500 Index (SPX), and Nasdaq Composite (COMP) are all in the black after hitting record highs earlier, as stocks react to the European Central Bank (ECB) stimulus decision. Specifically, the Dow topped out at 19,592.95, while the SPX and COMP reached 2,244.03 and 5,419.68, respectively. Meanwhile, crude oil prices have bounced back -- with January-dated futures last seen up 1.7% at $50.62 per barrel -- and weekly jobless claims declined to 258,000, as expected.

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

midday market stats dec 8

Among the stocks with unusual call volume at midday is Costco Wholesale Corporation (NASDAQ:COST), as the contracts trade at 12 times the expected intraday rate. Both the weekly 12/9 160- and 162.50-strike calls are seeing potential buy-to-open activity, as the stock has popped 3.8% to $159.65 following an earnings beat. On a related note, RBC raised its price target on COST by $1 to $177, while Deutsche Bank trimmed its target to $190 from $194 -- but still in record-high territory.

The top gainer on the New York Stock Exchange (NYSE) is Tailored Brands Inc (NYSE:TLRD), catalyzed by an earnings-induced round of bullish brokerage attention. At last check, the retail stock has bounded 42.8% higher to $27.03, and earlier touched an annual peak of $27.30.

tlrd daily dec 8b

Among the top losers on the Nasdaq is Horizon Pharma PLC (NASDAQ:HZNP), falling 18.6% to trade at $15.78. Drilling shares of the drugmaker are disappointing trial results on the company's Friedreich's ataxia treatment.

The CBOE Volatility Index (VIX) is up 0.2 point, or 2%, at 12.46.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 0.86, with calls outstripping puts. Currently, SPY is up 0.1 point, or 0.05%, at $224.71.

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