Stocks Stick Close to Breakeven as Traders Await Fed Minutes

The central bank's September meeting minutes could provide clues to a December rate hike

Managing Editor
Oct 11, 2017 at 11:55 AM
facebook twitter linkedin


The Dow Jones Industrial Average (DJIA)Nasdaq Composite (IXIC), and S&P 500 Index (SPX) have been sticking close to breakeven today, in anticipation of the soon-to-be released Fed meeting minutes, which could provide clues to a possible December interest rate hike. Against this backdrop, the major equity indexes have wavered between small gains and losses, with stocks cooling their jets after yesterday's round of new record highs

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

  • Analyst: This year's worst Dow stock is set to get even worse.
  • 2 social media stocks garnering bullish attention.
  • Plus, McDonald's new highs; the biggest Big Board gainer; and Hudson's ugly guidance. 

Midday Stock Market Stats October 11


Among the stocks with unusual options volume is fast food powerhouse McDonald's Corporation (NYSE:MCD), with nearly 10,000 call options traded -- two times the average intraday norm, and pacing for the 93rd percentile of its annual range. MCD's calls are outpacing puts more than 2-to-1, with traders buying to open December 160 calls on bullish commentary from Cleveland Research, according to Trade-Alert. Earlier today, MCD stock hit a record high of $163.24, and was last seen trading up 1.3% at $162.73.

The biggest gainer on the New York Stock Exchange (NYSE) is precious metals concern Pretium Resources Inc (NYSE:PVG). The shares of PVG are moving higher after the company said its Brucejack Mine produced more gold than expected in the third quarter. At last check, PVG was trading up more than 21% at $11.73.  

One of the worst stocks on the Nasdaq today is refrigerant service company Hudson Technologies, Inc. (NASDAQ:HDSN), with the shares down 13% at $6.62, after the company issued weak third-quarter guidance. The shares have dropped more than 17% year-to-date, and have fallen 36% since touching a 20-year high of $10.40 on Aug. 10.

Daily Chart of HDSN Since Jan 2017

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners