S&P Touches Record High, Aims for Longest Weekly Win Streak In Months

A mixed bag of bank earnings hasn't stopped the major stock indexes

Managing Editor
Oct 13, 2017 at 12:11 PM
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The Dow Jones Industrial Average (DJIA)Nasdaq Composite (IXIC), and S&P 500 Index (SPX) are trading higher this afternoon, all three fresh from record highs, despite a mixed bag of bank earnings. Traders are also digesting the latest data on inflation and retail sales, as well as renewed threats of a missile strike on Guam from North Korea, and President Trump's plan to decertify the Iran nuclear deal. Nevertheless, the Dow and S&P are pacing for a fifth straight weekly win, which would mark the latter's longest weekly win streak since the first quarter.

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

Midday Market Check Stats Oct 13

Among the stocks with unusual options volume is media and tech company Comcast Corporation (NASDAQ:CMCSA), with nearly 71,000 calls traded -- 10 times the average intraday norm, and pacing for the 99th percentile of its annual range. The November 37.50 call is the most popular, with over 26,000 contracts exchanged, with Trade-Alert pointing to possible buy-to-open activity. CMCSA stock gapped lower yesterday after a warning from AT&T (T), and earlier fell to an eight-month low of $35.26, but was last seen 0.3% higher at $36.07.

One of the biggest gainers on the New York Stock Exchange (NYSE) is technology provider HP Inc (NYSE:HPQ). The shares of HPQ earlier touched a six-year high of $21.90, and was last seen trading up nearly 7% at $21.71, thanks to well-received earnings.

One of the worst stocks on the Nasdaq today is fiber-optics concern Applied Optoelectronics Inc (NASDAQ:AAOI), with the shares gapping 23% lower to trade at $46.24, after the company issued weak preliminary third-quarter results. The stock saw no fewer than five price-target cuts, and has now fallen 55% since touching an all-time high of $103.41 on July 27.

Daily Chart of AAOI Since Jan 2017

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