Dow Jones Industrial Average Hits New High; S&P, Nasdaq Set to Snap Weekly Win Streaks

Amazon earnings are weighing on the SPX and Nasdaq today

Jul 28, 2017 at 12:01 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) has traded in a tight 44-point range on both sides of breakeven, as mixed earnings reactions for oil stocks Chevron and Exxon Mobil play tug of war with the blue-chip index. The Dow was last seen modestly lower, but not before hitting a record high earlier today. The S&P 500 Index (SPX) and Nasdaq Composite (COMP) are trading lower, too, pressured by an earnings-related drop for FAANG stock Amazon.

Traders are also digesting this morning's gross domestic product (GDP) ahead of an afternoon speech from Minneapolis Fed President Neel Kashkari, and keeping an eye on rising oil prices. September-dated crude futures are up 1.3% at $49.69 per barrel, pacing for their biggest weekly win of the year. And while the Dow is on track to close higher on the week, the SPX and COMP are at risk of snapping their three-week winning streaks.
 
Continue reading for more on today's market -- and don't miss:

midday market stats july 28

Among the stocks with unusual option volume is social media stock Twitter Inc (NYSE:TWTR), with nearly 51,000 calls traded. That is two times the average intraday pace, with today’s TWTR call volume running in the 86th annual percentile. The January 2018 20-strike call is the most active, where 7,625 contracts have traded -- and data from the International  Securities Exchange (ISE) confirms new positions are being bought to open here today. Twitter stock is currently up 0.6% to trade at $16.94, but remains below its formerly supportive 80-day moving average following its post-earnings bear gap yesterday. 

Align Technology, Inc. (NASDAQ:ALGN) is at the top of the S&P 500 today, after the Invisalign maker's second-quarter earnings beat was met with price-target hikes at Credit Suisse (to $175) and Leerink (to $199). ALGN stock is up 9.2% to trade at $171.65, after earlier hitting a record high of $172.98.

algn daily chart july 28

Goodyear Tire & Rubber Co (NASDAQ:GT) is at the bottom of the SPX today, after the tire maker lowered its full-year tire unit sale forecast. GT stock is down 11.7% at $31.32, clinging to support at its year-to-date breakeven mark.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI