IBM Weighs On Dow Jones Industrial Average

A Bullish Signal for Stocks Just Flashed

Apr 19, 2017 at 11:52 AM
facebook twitter linkedin


The Dow Jones Industrial Average (DJIA) is modestly lower, dragged down by IBM Corp.'s (NYSE:IBM) post-earnings losses. However, the S&P 500 Index (SPX) and Nasdaq Composite (COMP) are both higher, with Morgan Stanley (NYSE:MS) earnings helping to lead financial stocks to strong gains. Meanwhile, U.S. oil prices are struggling -- with May-dated crude futures down 0.9% at $51.95 per barrel -- as an unexpected rise in gasoline inventories overshadows a drop in domestic crude stockpiles. Looking ahead, Wall Street will welcome the Fed's Beige Book at 2 p.m. ET.

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

  • 3 Dow stocks that could swing on earnings.
  • The rare sentiment signal that could be bullish for stocks.
  • Plus, Nordstrom calls catch fire; the tech stock touching record highs; and one financial stock stung by earnings.

midday market stats april 19

Among the names with unusual call volume today is retail stock Nordstrom. Specifically, calls are running at eight times the average intraday rate, due to the initiation of a potential bull call spread at the May 50 and 55 calls, totaling 10,000 contracts. Currently, JWN stock is up 2.6% at $47.27.

One of the top gainers on the Nasdaq is Lam Research Corporation (NASDAQ:LRCX), up 5.6% at $134.60, and fresh off a record high of $136.40. The tech stock is benefiting from a strong earnings report and a raft of bullish brokerage notes.

lam research stock chart today

One of the worst performers on the Nasdaq is Interactive Brokers Group, Inc. (NASDAQ:IBKR), which is hurting after an earnings-induced downgrade. At last check, the financial stock is down 2.8% at $33.80 -- its lowest point since the presidential election.

Winning With Weekly Options

1606854690

  


 
Special Offers from Schaeffer's Trading Partners