Dow Jones Industrial Average Sinks Amid Trump's 'Massive' Tax Talk

2 'FANG' Stocks Popping on Analyst Attention

Jan 23, 2017 at 12:12 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) is trading lower at midday -- and back in the red on a year-to-date basis -- as Wall Street reacts to the first policy decisions from U.S. President Donald Trump. On top of an executive action on trade reform, Trump held a meeting with a number of corporate executives, where he said he wants to cut business regulations by 75%. He also called for "massive" tax cuts for corporations and middle-class Americans. Still, stocks are backpedaling, with a negative earnings reaction for Dow stock McDonald's Corporation (NYSE:MCD) headlining the action, while the U.S. dollar hovers near seven-week lows. 

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

Midday Market Stats Jan 23

Among the stocks with unusual options volume is Texas Instruments Incorporated (NASDAQ:TXN), as the semiconductor specialist prepares to report earnings after tomorrow's close. However, unlike what's been seen in recent weeks, calls are seeing heavy attention in today's options trading. Volume is running at a slightly accelerated clip today, with the July 77.50 call leading the way. Nevertheless, it looks like some sell-to-open activity may be occurring here, as traders set a ceiling over the next six months. The stock was last seen 0.2% higher at $74.92. 

Mobile marketing specialist Live Ventures Inc (NASDAQ:LIVE) is gaining on the Nasdaq today, up 6.8% at $21.14, though it's not clear what's leading to this price action. The stock posted a huge rally back in December, and while the shares remain well below the highs from that time, they've gained 28% since their low of $16.50 on Jan. 6. 

One of the biggest losers on the Nasdaq is chipmaker QUALCOMM, Inc. (NASDAQ:QCOM), following news of a $1 billion lawsuit from  Apple Inc. (NASDAQ:AAPL). The shares were last seen 13.2% lower at $54.59, and, although they're still in positive year-over-year territory, they're set to close below their 200-day moving average for the first time since late June. 

Daily Chart of QCOM Jan 23

The CBOE Volatility Index (VIX) is up 1 point, or 8.7%, at 12.54. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.19, with puts more than doubling calls. The SPY is down 1.2 points, or 0.5%, at $225.49. 

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

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI