Dow Jones Industrial Average Fighting to Keep Win Streak Alive

The DJIA is on track for its 10th straight daily gain

Managing Editor
Aug 7, 2017 at 12:05 PM
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The Dow Jones Industrial Average (DJIA) has traded on both sides of breakeven today, but earlier notched a ninth straight record high. At last check, the blue-chip index was in the black, aiming for its 10th straight daily win -- its second-longest winning streak in over a year. The S&P 500 Index (SPX) and Nasdaq Composite (COMP) are also higher to start the week, despite mounting geopolitical tensions with North Korea and slipping oil prices ahead of a major producer meeting. At last check, September-dated crude futures were down 0.9% at $48.71 per barrel.

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

  • Analyst: This chip stock is headed to record highs after earnings.
  • 2 drug stocks drilled by negative analyst notes.
  • Plus, Avis bears emerge ahead of earnings; AMD's solid start to the week; and one pharmaceutical stock on the rebound after earnings.

Midday Market Stats Aug Seven

Among the stocks with unusual volume is car rental name Avis Budget Group Inc. (NASDAQ:CAR), with roughly 8,600 puts traded ahead of earnings tonight. That is eight times the average intraday pace, and on track for the 99th percentile of its annual range. The September 23 and 33 puts are the most active, where over 5,500 contracts combined have traded. CAR stock is currently up 1.8% to trade at $32.79, as it continues to battle back from last week's sector swoon.

Apple supplier Advanced Micro Devices, Inc. (NASDAQ:AMD) is trading at the top of the S&P, up 2.4% at $13.44. The shares have pulled back from their post-earnings record of $15.65 on July 26, but have found support atop their 50-day moving average. AMD stock is up 18.6% year-to-date, and has more than doubled year-over-year.

Horizon Pharma PLC (NASDAQ:HZNP) is trading near the top of the Nasdaq today, up 5% at $13.36 after a well-received earnings report -- much to the dismay of recent short sellers. HZNP stock is now on pace to end atop its 20-week moving average for the first time in 2017.

horizon pharma stock chart

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