Dow Jones Industrial Average Holds Gains With Fed in Focus

25 Stocks That Could Rally In Trump's First Year

Jan 4, 2017 at 12:02 PM
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The Dow Jones Industrial Average (DJIA) remains comfortably higher, looking to extend momentum after Tuesday's triple-digit jump to kick off the new year. While this afternoon's release of the minutes from the Federal Open Market Committee's (FOMC) December meeting remains in focus, traders are also responding to strong domestic sales from U.S. automakers in December, with shares of General Motors Company (NYSE:GM) and Ford Motor Company (NYSE:F) sharply higher at last check. Rising oil prices are helping stocks, as well, with the February-dated contract rising 1.2% to $52.95 per barrel. 

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

Midday market stats Jan 4

Among the stocks with unusual option volume at midday is semiconductor stock NVIDIA Corporation (NASDAQ:NVDA). The shares were last seen up 0.2% at $102.22, following a round of bullish analyst attentio and ahead of the CES, and calls are trading at 1.6 times the pace usually seen at this point in the day. In fact, calls account for nine of the 10 most popular contracts today, with the weekly 1/6 series seeing heavy attention. It looks like buy-to-open activity is taking place at the weekly 1/6 105-strike call, while other traders may be selling to open the weekly 1/6 110-strike call. 

Auto stock F is among the top gainers on the Big Board today, adding 4.4% to trade at $13.15 -- and just off a six-month high -- after the automaker announced better-than-expected domestic sales for December. This comes just a day after the company said it's canceling its plan to build a production plant in Mexico, which shot the stock higher. 

Daily Chart of Ford Jan 4

Agile Therapeutics Inc (NASDAQ:AGRX) is the worst-performing stock on the Nasdaq today, as a result of downbeat drug-trial news. The shares were last seen 52.4% lower at $2.38, and earlier hit a record low of $1.82. For reference, AGRX was trading near double-digit territory at this point last year. 

 The CBOE Volatility Index (VIX) is down 0.8 point, or 6.1%, at 12.07. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.31, ranking below 72% of all other readings from the past year. At last check, the SPY was up 1 point, or 0.5%, at $226.27. 

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


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