Dow Jones Industrial Average Down; Nasdaq Eyes Longest Win Streak Since '15

What to Expect After Apple's Winning Streak

Jul 18, 2017 at 11:53 AM
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The Dow Jones Industrial Average (DJIA) is lower, and earlier flirted with a triple-digit drop, pressured by steep earnings-induced losses for Goldman Sachs shares. Fellow Dow stock UnitedHealth is also in the red, as Senate Republicans' failed attempt to repeal and replace Obamacare overshadows the insurance giant's earnings beat. And while the S&P 500 Index (SPX) is lower at midday, too, a positive earnings reaction for Netflix stock -- which is fresh off a record high -- has the Nasdaq Composite (COMP) higher. Another win for the COMP would make it eight in a row, its longest win streak since February 2015.
 
Continue reading for more on today's market -- and don't miss:

  • What to expect after the Apple stock winning streak.
  • The biotech jumping on a breast cancer drug win.
  • Plus, call volume pops on this sinking mining stock; the retail stock at new highs; and another new low for Blue Apron.

midday market stats july 18

Among the stocks with unusual options volume is Cliffs Natural Resources Inc (NYSE:CLF), with more than 14,000 calls traded -- two times the expected intraday rate, and volume on track to settle in the 92nd annual percentile. Most notable is a block of 10,000 July 7.50 calls that crossed at the bid price earlier. It's possible an options trader is selling to open the calls; however, this could also be indicative of sell-to-close activity, considering a similar-sized block was bought to open last Wednesday. CLF stock is trading down 1.1% at $7.32, and hasn't closed a session north of $7.50 since mid-April.

RH (NYSE:RH) is one of the biggest gainers on the New York Stock Exchange (NYSE), after Deutsche Bank raised its price target on the home furnishings retailer to $80 from $66, territory not charted since December 2015. RH stock has come a long way from its early June bear gap -- up 74%, including today's 5.7% pop to trade at $72.16, and fresh off an 18-month high of $72.54.

rh stock daily chart july 18

Blue Apron Holdings Inc (NYSE:APRN) is one of the worst stocks on the Big Board, continuing yesterday's slide that was sparked by news of Amazon's venture into the meal-delivery market. APRN stock is trading down 4.6% at $6.29, and earlier hit a new record low of $6.27.


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