Dow Jones Industrial Average Topples 21,000 After Trump Speech

2 ETFs to Watch Amid the 'Frexit' Hype

Josh Selway
Mar 1, 2017 at 12:05 PM
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Stocks are exploding higher today, with the Dow Jones Industrial Average (DJIA) breaking through the 21,000 level to hit fresh record highs. Should the Dow stay north of 21,000 through the close, it would match the quickest pace the benchmark has ever moved from one 1,000-point marker to the next, set in 1999. Wall Street continues to applaud President Donald Trump's speech to Congress last night, where he again promised major policy changes, including tax reform and a huge spike in infrastructure spending. As such, 28 of 30 Dow stocks were in the green at last check, led by a rally in bank shares, while the Nasdaq Composite (COMP) and S&P 500 Index (SPX) are hitting new highs of their own -- even as talk of a March interest rate hike from the Fed picks up following this morning's inflation data

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

  • 2 exchange-traded funds (ETFs) to watch amid "Frexit" hype. 
  • While a bearish note sinks Intel Corporation (NASDAQ:INTC), analysts are eyeing 19% upside for this fellow chip stock
  • Plus, Bank of America options are hot, Weight Watchers' huge day, and TASER falls hard. 

stock indexes today march 1

Bank of America Corp (NYSE:BAC) is seeing accelerated options activity today amid the broader rally in bank stocks. With the shares up 3.2% at $25.46, earlier hitting an eight-year high of $25.61, calls are trading at two times the pace expected for this point in the day. While the weekly 3/3 and standard March series in particular are seeing heavy attention, one notable trade occurred at the June 28 call, where 6,000 contracts may have been bought to open. If this is the case, speculators are betting on BAC shares continuing their impressive push higher in the months ahead. 

Weight Watchers International, Inc. (NYSE:WTW) is one of the top stocks on the Big Board today, after the company's impressive quarterly earnings report. The shares were last seen 34.9% higher at $19.41, earlier hitting an annual high of $19.86. In the meantime, options traders and Oprah are likely celebrating. 

weight watchers stock chart

Among the worst performers on the Nasdaq is self-defense stock TASER International, Inc. (NASDAQ:TASR), due to the firm's fourth-quarter earnings miss and price-target cuts from J.P. Morgan Securities (to $30) and Craig-Hallum (to $29). At last check, the shares were down 6.4% at $24.01, though they could find support at the rising 320-day moving average. Still, TASR short sellers finally have something to cheer about. 

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