Dow Finds a Fresh Record High, Despite P&G's Post-Peltz Drop

Apache is one of the worst stocks on the NYSE today, while UAL is flying high

Managing Editor
Oct 10, 2017 at 11:55 AM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA), Nasdaq Composite (IXIC), and S&P 500 Index (SPX) all hit new record highs this morning, with energy stocks setting a bullish tone as November crude futures add 2.7% to trade at $50.90 per barrel. However, Dow component Procter & Gamble (PG) is sitting out the rally, with PG stock down 1.3% after activist investor Nelson Peltz failed in his bid for a board seat. Peltz has yet to concede the proxy battle, arguing the vote is too close to call.

Continue reading for more on today's market, including:

  • The Apple supplier slapped with a "sell" rating by Goldman Sachs.
  • The driverless car news that sent one tech stock to new highs today.
  • Plus, option volume soars on Corning; the airline moving higher on upbeat September stats; and Apache gets slammed by Jefferies.

MMC Chart October 10


Among the stocks with unusual options volume is glass manufacturer Corning Incorporated (NYSE:GLW), with roughly 11,000 options traded -- six times the average intraday norm, and pacing in the 97th percentile of its annual range, per Trade-Alert. The weekly 10/27 30.50 strike-call, November 32 call, and November 28 put are most popular, with short-term speculators placing their bets ahead of GLW's late October earnings report. At last check, GLW was trading down 1% at $28.90.

One of the biggest gainers on the New York Stock Exchange (NYSE) is airliner United Continental Holdings Inc (NYSE:UAL). The shares of UAL are moving higher after the company's September operational metrics and third-quarter guidance triggered bullish notes from both UBS and Cowen and Company. UAL is trading up 6% at $68.26, after gapping above its 80-day moving average this morning.

Daily Chart of UAL Since Jan 2017 with 80MA

One of the worst stocks on the NYSE today is energy concern Apache Corporation (NYSE:APA), with the shares down 6% at $43.19, after Jefferies assumed coverage with an "underperform" rating and a price target of $38. The shares have dropped more than 31% over the past year, and touched a record low of $38.14 on Aug. 31.

 

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