Dow Jones Industrial Average, S&P, and Nasdaq Smash Records Again

This Cable Stock Could Triple; Plus, The Apple Supplier Headed to $200

Dec 9, 2016 at 11:56 AM
facebook twitter linkedin

The good times keep rolling for the Dow Jones Industrial Average (DJIA)S&P 500 Index (SPX), and Nasdaq Composite (COMP), each index fresh off a record high. In fact, the Dow and its peers have all advanced in every session this week, despite expectations the Fed will hike interest rates next Wednesday. With stocks red-hot, confidence is on the rise, as the Thomson Reuters/University of Michigan consumer sentiment survey reached its highest perch since January 2015. Adding to the optimism, oil prices keep rising, with January-dated crude futures tacking on 1% at $51.37 per barrel.

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

midday market stats dec 9

Among the stocks with unusual option volume at midday is Las Vegas Sands Corp. (NYSE:LVS), with the contracts running at triple the expected intraday pace. Traders may be buying to open the weekly 12/30 60-strike call. At last check, the casino shares are 3.3% higher at $56.45, thanks to a timely clarification out of Macau.

One of the biggest losers on the New York Stock Exchange (NYSE) is Restoration Hardware Holdings Inc (NYSE:RH). The retail stock is down 16.4% at $32.61 on weak current-quarter guidance.

rh daily dec 9

Among the leading decliners on the Nasdaq is Sears Holdings Corp (NASDAQ:SHLD), down 6.4% at $11.94. The embattled shares shook off a disappointing earnings report yesterday for a solid gain, but it now looks like that progress will be wiped out.

The CBOE Volatility Index (VIX) is down 0.5 point, or 3.7%, at $12.17.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 0.96, with puts and calls trading near parity. At last check, SPY has advanced 0.7 point, or 0.3%, at $225.86 -- and is fresh off a record $226.02.

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


Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!