20K in Play as Dow Jones Industrial Average Flirts With Highs

30 Stocks to Sell Before Christmas; Plus, the Drugmaker That's Doubled

Dec 20, 2016 at 11:50 AM
facebook twitter linkedin


The Dow Jones Industrial Average (DJIA) touched a record high of 19,987.63 earlier, as its quest for the 20,000 level continues ahead of tonight's earnings report from blue-chip stock Nike Inc (NYSE:NKE). The Nasdaq Composite (COMP) also jumped to an all-time high of 5,489.47 in morning trade, as telecom stocks flex their collective muscle. While it's relatively quiet on the data front, the Wells Fargo/Gallup Investor and Retirement Optimism Index revealed a nine-year high in bullish sentiment, echoing another recent survey.

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

midday market stats dec 20

Among the stocks with unusual options volume at midday is handset maker BlackBerry Ltd (NASDAQ:BBRY), with 22,000 contracts on the tape -- six times the typical intraday amount. Most active is the weekly 12/23 8-strike call, which is seeing buy-to-open activity. The bullish betting stems from BBRY stock's 3.6% surge to $7.99, following an earnings beat.

One of the worst performers on the New York Stock Exchange (NYSE) is NeoPhotonics Corp (NYSE:NPTN), following dismal guidance and a subsequent series of bearish analyst notes. At last check, shares of the optoelectronics firm were down 10.7% at $11.15, and on the short-sale restricted list.

nptn daily dec 20

One of the top stocks on the Nasdaq is ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), surging 8.1% to $27.49. Boosting the drugmaker's shares is encouraging data from a mid-stage study on psychosis drug pimavanserin.

The CBOE Volatility Index (VIX) is off 0.02 point, or 0.2%, at 11.69 -- on track for its lowest close since Aug. 19.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.21, with puts edging out calls. SPY was last seen up 0.8 point, or 0.4%, at $226.37.

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

Bernie's Best Stock Bets for Summer 2021

1608308875

 




 
Special Offers from Schaeffer's Trading Partners