Dow Jones Industrial Average, S&P, Nasdaq Notch New Highs

This S&P Signal Just Flashed For the First Time in 2 Years

Dec 13, 2016 at 11:53 AM
facebook twitter linkedin


The Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq Composite (COMP) have all muscled to new record highs, as the Trump rally continues. What's more, the Dow is also on track for a seventh straight close in the black, and earlier came within 85 points of the psychologically significant 20,000 mark. This, despite near-unanimous rate-hike expectations from the Federal Open Market Committee (FOMC), once its two-day policy meeting wraps up tomorrow afternoon -- which will be followed by a speech from Fed Chair Janet Yellen.

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

midday market stats dec 13

Among the stocks with unusual put volume at midday is Himax Technologies, Inc. (ADR) (NASDAQ:HIMX), as the tech shares sell off following a downgrade to "neutral" from "buy" at Mizuho Securities, which also lowered its price target to $7.70 from $10. Currently, HIMX is down 8.4% at $6.61. Put options are running at seven times the expected amount for this point in the session, and Trade-Alert suggests buy-to-open activity is transpiring at the January 2017 7 strike.

The largest loser on the Nasdaq is Proteon Therapeutics Inc (NASDAQ:PRTO), down 73.2% at $2.65, fresh off a record low of $2.45, and on the short-sale restricted list. The shares are getting obliterated by a failed drug trial, as well as downgrade to "neutral" at Baird, which also slashed its price target to $3 from $20. Oppenheimer, meanwhile, lowered its rating to "perform" from "outperform."

prto daily dec 13

Among the top performers on the New York Stock Exchange (NYSE) is VeriFone Systems Inc (NYSE:PAY), tacking on 8.2% to trade at $17.79. This, despite a mostly downbeat round of post-earnings analyst coverage.

The CBOE Volatility Index (VIX) is up 0.3 point, or 2.2%, at 12.92.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 0.89, with calls maintaining a slim, and rare, lead over puts. At last check, SPY is up 1.2 points, or 0.5%, at $227.44 -- and fresh off a record peak of $227.84.

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

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 

300x250 - Banner 3 - v1