Dow Jones Industrial Average Bounces Off 20K; Trump Policies in Focus

The Drug Stock Up 44%

Feb 6, 2017 at 12:08 PM
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The Dow Jones Industrial Average (DJIA) fell at the open to test its footing atop the round 20,000 mark, but has more recently been seen sticking close to breakeven. The earnings and economic calendars are relatively quiet today, leaving stocks to react to declining oil prices, as well as the latest policy news from the Trump administration. Among the major issues in focus is the controversial immigration ban, after a U.S. appeals court yesterday denied a request from the Department of Justice to reinstate the executive order. Meanwhile, March-dated crude futures were last seen down 0.8% at $53.38 per barrel. Looking ahead, investors will be eyeing the Federal Reserve after the close, when Philadelphia Fed President Patrick Harker is due to speak.

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

  • The drug stock up 44%.
  • The options market is targeting a huge post-earnings swing for Twilio Inc (NYSE:TWLO).
  • Plus, TrueCar calls catch fire, Disney dolls send Hasbro to new highs, and Tiffany's CEO hits the bricks.

Midday Market Stats February 6

TrueCar Inc (NASDAQ:TRUE) is among the stocks with unusual options volume at midday. The security, which usually sees light absolute volume in the options pits, is up 1.7% at $13.45 following bullish brokerage attention, and TRUE calls are trading at 13 times the typical intraday pace, with call volume on track for an annual high. Specifically, 12,802 TRUE calls have changed hands, while not a single put has traded. Most of the action is occurring at the in-the-money April 12.50 call, where Trade-Alert suggests new positions are being sold.

Among the top performers on the Nasdaq today is toymaker Hasbro, Inc. (NASDAQ:HAS), up 14.5% at $94.58 -- and fresh of a record high of $96.34. The gains come following a well-received turn in the earnings confessional, with HAS' results getting a big boost from strong sales of Disney princess dolls.

HAS Daily Chart February 6

Luxury jeweler Tiffany & Co. (NYSE:TIF) is among the worst performers on the New York Stock Exchange. TIF stock has shed 3% to $78.10, after the resignation of the company's CEO Frederic Cumenal prompted a bearish analyst note from Mizuho.

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