Financial stocks are leading the DJIA to huge gains, while the COMP touched an all-time high
The Dow Jones Industrial Average (DJIA) has jumped nearly 200 points, and the Nasdaq Composite (COMP) is fresh off a record high of 5,983.43, following the French election results. Financial stocks are leading the way, with Dow components JPMorgan Chase & Co. (NYSE:JPM) and Goldman Sachs Group Inc (NYSE:GS) both up over 3%. Meanwhile, investors are looking ahead to this week's expected Trump tax reform plan, and hoping the new administration can avoid a government shutdown by cutting a budget deal by Friday's deadline.
Continue reading for more on today's market -- and don't miss:
- Contrarian bulls should consider buying calls on this blue chip.
- Barron's: This drug stock could "double or more."
- Plus, Huntsman pre-earnings options hot; Deutsche Bank shares blow up; and the financial stock sliding again.
Among the names with unusual call volume today is Huntsman Corporation (NYSE:HUN). Ahead of the chemical company's earnings report on Wednesday morning, HUN calls are running at 14 times the expected intraday rate -- with potential buy-to-open action at the May 25 strike. At last check, the stock is up 4% at $24.95, and closing in on its two-year high of $25.22.
One of the best performers on the New York Stock Exchange (NYSE) is financial firm Deutsche Bank AG (USA) (NYSE:DB), up 10.6% at $18.24. The stock is catching fire after receiving some bullish analyst attention ahead of earnings and after the French election.
For the second time in three trading days, lender Ocwen Financial Corp (NYSE:OCN) is the biggest loser on the New York Stock Exchange (NYSE). At last check, OCN stock is down 10.5% at $2.17 -- and still on the short-sale restricted list -- after the company was hit with a class action lawsuit.