The DJIA is sitting on heavy losses, led lower by GS stock
The Dow Jones Industrial Average (DJIA) is getting rocked, down triple digits after blue chip Goldman Sachs Group Inc (NYSE:GS) posted its first earnings miss since 2015, sending GS stock down more than 4%. Wall Street's also taking a risk-off approach toward stocks due to the heightening tensions between America and North Korea, with U.S. Vice President Mike Pence throwing down the gauntlet against the rogue state. Elsewhere, Kansas City Fed President Esther George said she "would support beginning the process of reducing the balance sheet this year," with the economy on "solid footing."
Continue reading for more on today's market -- and don't miss:
- The VIX signal ringing for the first time in years.
- 3 catalysts crushing this healthcare stock.
- Plus, option bull charges Kate Spade; GNC's earnings breakout; and the tech stock up 10%.
Among the names with unusual option volume today is accessories retailer Kate Spade, where the contracts are running at 12 times the expected intraday clip, on pace for an annual high. The bullish options activity comes in spite of a disappointing earnings report, which has KATE stock down nearly 7% at $18.07. Digging deeper in the options pits, Trade-Alert is flagging a bullish risk-reversal, with a trader buying to open 15,000 July 20 calls and simultaneously selling to open a matching block of July 17 puts, perhaps betting on another bid from Coach.
The top gainer on the New York Stock Exchange is supplements retailer GNC, up 23.3% at $8.93. Sparking GNC stock's technical breakout is the company's rock-solid earnings report -- though the shares remain deep in the red on a longer-term basis.
One of the best performers on the Nasdaq is 3-D printing issue Stratasys, Ltd. (NASDAQ:SSYS), thanks to an analyst upgrade and a price target in territory not charted in over a year. At last check, SSYS stock had tacked on 10.6% to trade at $23.55.