Dow Jones Industrial Average Hits New High Ahead of Fed

Another strong day of earnings reactions has sparked a risk-on session on Wall Street

Jul 26, 2017 at 11:57 AM
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The Dow Jones Industrial Average (DJIA) hit a record high earlier -- on track for a second straight day of triple-digit gains -- thanks to blowout Boeing earnings. The Dow stock, which is fresh off an all-time high of its own, is pacing for its best day in almost eight years. The S&P 500 Index (SPX) and Nasdaq Composite (COMP) also notched record highs, while oil prices continue to rise. At last check, September-dated crude futures were trading up 1.3% at $48.52 per barrel, after domestic inventories fell for a fourth straight week. Looking ahead, the Fed is expected to announce its latest policy decision at 2 p.m. ET, while Facebook will report earnings after the close.
 
Continue reading for more on today's market -- and don't miss:

  • This sector could move after the Fed meeting.
  • 3 stocks getting slammed after earnings.
  • Plus, NVIDIA call options pop; iRobot hits new highs; and AT&T's big day.

midday market stats july 26

Among the stocks with unusual option volume is chip stock NVIDIA Corporation (NASDAQ:NVDA), with over 56,000 calls trading. That is 1.3 times the average intraday pace and set for the 92nd percentile of its annual range. More specifically, the weekly 7/28 170- and 167.50-strike calls are the most active, with buy-to-open activity suspected. NVDA stock is up 1.7% to trade at $168.20 -- and just hit a new record high of $169.93 -- thanks to a halo lift from sector peer Advanced Micro Devices

iRobot Corporation (NASDAQ:IRBT) is near the top of the Nasdaq, after the Roomba maker reported a big revenue beat and Robopolis acquisition. A price-target hike to $92 from $68 at Piper Jaffray is adding to the bullish buzz, though this remains below current trading levels. IRBT stock is up 19.2% at $104.74, and earlier hit a record high of $105.99.

irbt stock daily chart july 26

AT&T Inc (NYSE:T) is one of the biggest advancers on the SPX, after the telecommunication firm's earnings topped analysts' estimate. A price-target cut to $41 from $43 at Cowen isn't affecting T stock, either, with the shares last seen 4.5% higher to trade at $37.85.

 

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