Dow Jones Industrial Average Pops; S&P, Nasdaq Hit New Highs

2 Biotechs to Buy Right Now

May 25, 2017 at 11:52 AM
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The Dow Jones Industrial Average (DJIA) is trading near its session high -- on track to extend its winning streak to six sessions -- with Caterpillar stock giving the biggest boost to the blue-chip barometer. Traders continue to wax optimistic over the Fed's plans to unwind its balance sheet, while a positive session for FANG stocks has the S&P 500 Index (SPX) and Nasdaq Composite (COMP) fresh off record highs. Today's upside comes even as oil prices retreat in the wake of a disappointing outcome from the Organization of the Petroleum Exporting Countries (OPEC) meeting. At last check, July-dated crude futures were down 2.5% at $50.09 per barrel.

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

  • 2 biotech stocks to buy right now.
  • 3 retail stocks soaring after earnings.
  • Plus, GME options traders hope for a repeat of history; AERI stock hits new highs; and a big bounce for Guess shares.

stock market today

Among the stocks with unusual options activity is GameStop Corp. (NYSE:GME), with 26,238 contracts traded -- six times the expected intraday rate and volume on track to settle in the 100th annual percentile. Ahead of the video game retailer's turn in the earnings confessional tonight, the weekly 5/26 22.50-strike put is most active and appears to be seeing buy-to-open activity. GME stock has a history of negative post-earnings reactions, and was last seen trading up 3.2% at $23.43.

Aerie Pharmaceuticals Inc (NASDAQ:AERI) is one of the biggest gainers on the Nasdaq, after strong data for the drugmaker's glaucoma treatment was met with bullish brokerage attention. AERI stock has surged 32.8% to trade at $53.80, and earlier tapped a record high of $59.50.

aeri stock price chart may 25

Guess?, Inc. (NYSE:GES) is near the top of the New York Stock Exchange (NYSE), as the retailer's earnings beat overshadows a price-target cut. At last check, GES stock was trading up 15.4% at $11.51, but remains roughly 30% lower year-over-year.


 

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