The DJIA is attempting to avoid a third straight loss
The Dow Jones Industrial Average (DJIA) has traded on both sides of the aisle, but was last seen cautiously higher, attempting to avoid a third straight losing session. However, a rough day for financial and tech stocks is keeping the Dow's rebound in check. The S&P 500 Index (SPX) is also slightly higher, but the tech-rich Nasdaq Composite (COMP) is still in the red, after suffering its longest weekly losing streak in more than a year. Later today, traders will likely be fixated on the afternoon solar eclipse, as well as tonight's speech from President Trump, where he plans to outline the U.S. strategy in Afghanistan.
Continue reading for more on today's market -- and don't miss:
- The resignation sparking a sell-off for Infosys stock.
- Analyst: "Buy" this retail stock that could rally 20%.
- Plus, SNAP stock attracting calls; Herbalife stock rallies; and another retailer sinking ahead of earnings.
Among the stocks with unusual options volume is Snapchat parent
Snap Inc (NYSE:SNAP), with roughly 38,000 calls traded. That's 1.5 times the average intraday pace, and set for the 88th percentile of its annual range. Most of the action centers around huge trades at the weekly 8/25 14.50-strike call, where over 6,000 contracts have changed hands. SNAP stock is currently down 0.6% to trade at $13.91, though still well off the
record lows it set last week.
Herbalife Ltd. (NYSE:HLF) is trading higher, up 9.6% at $67.91 and near the top of the New York Stock Exchange (NYSE) today. The supplements maker drew headlines this morning by revealing it had discussions about going private, and that it will buy back shares for $60-$68 apiece in a modified "Dutch tender offer." Today's rally has HLF shares approaching their rising 50-day moving average, as well as the key $68.50-$69.50 region -- where HLF stock landed after a May bull gap.
Abercrombie & Fitch Co. (NYSE:ANF) is among the worst stocks on the NYSE, down 5% to trade at $9.18. The drop today has ANF stock within striking distance of its 17-year low of $8.81, set on July 12. On Friday afternoon, news broke that Stephanie M. Shern had resigned from the Abercrombie board of directors. ANF stock has shed 24% year-to-date, and the company will report earnings this Thursday, as it looks to avoid the fate of recent retail rivals.