The DJIA and COMP are burning up again, with the latter hitting a record high north of 6,000
The Dow Jones Industrial Average (DJIA) is on fire for a second straight day, while the Nasdaq Composite (COMP) has toppled the 6,000 level for the first time ever -- hitting a record high of 6,022.65. A string of upbeat earnings reports from Dow stocks 3M Co (NYSE:MMM), Caterpillar Inc. (NYSE:CAT), DuPont (NYSE:DD), and McDonald's Corporation (NYSE:MCD) is pouring fuel on the fire, which started yesterday after France's presidential election results triggered a relief rally. Plus, on the data front, traders are digesting a bigger-than-forecast rise in U.S. housing prices and new home sales, and gearing up for details on President Trump's highly anticipated tax plan.
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- Plus, pre-earnings options traders target Twitter; the stock Anthem's killing; and why these drug shares are 5% higher.
Among the names with unusual options volume today is Twitter Inc (NYSE:TWTR), running at twice the average intraday pace. The accelerated action comes just ahead of tomorrow's TWTR earnings report. The most active option is the weekly 4/28 15-strike call, where there seems to be a mix of buy- and sell-to-open activity.
One of the worst performers on the Nasdaq is Express Scripts Holding Company (NASDAQ:ESRX), down 11.6% at $59.46. Leveling shares of the pharmacy firm -- currently short-sale restricted -- is contractual drama with customer Anthem Inc (NYSE:ANTM), as well as disappointing revenue data and negative analyst attention. In fact, ESRX stock earlier touched a four-year low of $57.80.
Among the top gainers on the Nasdaq is drug stock Biogen Inc (NASDAQ:BIIB), up 4.8% at $290.17. A well-received earnings report, strengthened by the launch of muscular atrophy treatment Spinraza, is bolstering the shares.