Verizon, Boeing Fuel Dow Jones Industrial Average to New High

CEO Jeff Bezos became the richest person in the world ahead of Amazon's earnings

Jul 27, 2017 at 12:00 PM
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The Dow Jones Industrial Average (DJIA) hit a record high earlier, with a positive earnings reaction for Verizon helping to boost the blue-chip index. Strong durable goods data is fueling another day of impressive gains for Boeing, which is once again one of the best Dow stocks today. Earnings also have the S&P 500 Index (SPX) and Nasdaq Composite (COMP) fresh off new highs. The busy day of earnings continues after the close, too, with Amazon slated to report. Ahead of the highly anticipated event, AMZN CEO Jeff Bezos has officially surpassed Bill Gates as the world's richest person.
Continue reading for more on today's market -- and don't miss:

  • 2 FAANG stocks at record highs.
  • The drug stock down 15%.
  • Plus, call buyers take aim at Kroger; GNC earnings impress; and Seadrill sinks on bankruptcy woes.

midday market stats july 27

Among the stocks with unusual option volume is grocery stock Kroger Co (NYSE:KR), with nearly 13,000 calls traded. That is three times the average intraday pace, with today's KR call volume running in the 98th percentile of its annual range. More specifically, the front-month August 25 call is most active, where opening buyers appear to be responsible for some of the 8,700-plus contracts that have crossed the tape here so far. KR stock is up 1.4% to trade at $24.06, but still has a lot of ground to cover to get back to its pre-bear gap levels of mid-June.

Shares of GNC Holdings Inc (NYSE:GNC) are near the top of the New York Stock Exchange (NYSE), as an upbeat outlook toward the health and wellness retailer's marketing campaign overshadows a second-quarter earnings miss. With more than 40% of GNC's float sold short, a short-squeeze could also be accelerating gains for GNC. Regardless, the shares are up 11.5% at $10.45 to trade north of the 40-week moving average -- a trendline that's kept a tight lid on GNC stock since September 2015.

gnc stock weekly chart july 27

Seadrill Ltd (NYSE:SDRL) is trading near the bottom of the NYSE, extending its stay in penny stock territory after the rig operator earlier this week deferred its debt restructuring to September and warned of potential bankruptcy. SDRL stock is down 4.9% at $0.37, bringing its year-to-date deficit to 89.2%.


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