Oil Rally Fails to Energize Dow Jones Industrial Average

The Healthcare Stock to Own Next Quarter

Mar 29, 2017 at 12:03 PM
facebook twitter linkedin

The Dow Jones Industrial Average (DJIA) is trading lower at midday, following yesterday's triple-digit surge. Traders are keeping a close eye on the U.K., which officially began its exit from the European Union by triggering Article 50. The energy sector is also in focus, as oil prices gain thanks to a smaller-than-expected increase in domestic crude inventories. May-dated crude futures were last seen up 1.7% at $49.18 per barrel, with booming energy stocks helping the S&P 500 Index (SPX) outperform. Elsewhere, Chicago Fed President Charles Evans said he supports one or two more rate hikes this year, while Boston Fed President Eric Rosengren said the Fed's "default" this year should be "four tightenings, reflecting the strength of the economy that I believe justifies more regular normalization of interest rates."

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

  • Why analysts think this could be a "golden era" for Facebook stock
  • The healthcare stock to own in the second quarter. 
  • Plus, options traders eye a Skechers rebound; the biotech booming on drug data; and another high for Activision Blizzard. 

stock market news today

Among the names seeing accelerated options trading is shoe stock Skechers USA Inc (NYSE:SKX), which is down 4.3% at $28.66, after a downgrade at Susquehanna. However, it seems options traders are betting on SKX stock to rebound in the coming months. For instance, calls are trading at 10 times the expected intraday pace, thanks to heavy action at the May 30 call. Data suggests some buy-to-open activity could be taking place here, which would mean traders are speculating on a move back above $30. 

One of the top gainers on the Nasdaq is drug stock Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). The shares were last seen 22.3% higher at $109.68, after the company's cystic fibrosis treatment succeeded in a late-stage study. Today's rally brings VRTX stock's year-to-date gain to roughly 50%, and puts it in territory not seen in over a year. 

vrtx stock today

Another Nasdaq winner today is video game stock Activision Blizzard, Inc. (NASDAQ:ATVI) -- but, of course, that's nothing new. With its 0.5% rise today to trade at $50, ATVI stock is now up nearly 39% in 2017, and earlier hit a record high of $50.32. More promising still, the shares could find options-related support just below current levels. 

Don't miss the stock market's big finish. Sign up now for Schaeffer's Market Recap.


If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!



Special Offers from Schaeffer's Trading Partners