Dow, S&P, Nasdaq Reach Fresh All-Time Highs

Corporate earnings optimism is helping stocks higher this afternoon

Managing Editor
Oct 16, 2017 at 12:10 PM
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The Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are trading higher this afternoon, all three fresh off all-time highs. Traders are optimistic ahead of the first full week of earnings season -- kicking off with the Netflix (NFLX) quarterly report tonight -- and a rebound in bank stocks is also driving the major market indexes higher.

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

  • Analysts: Dump this advertising stock ahead of earnings.
  • 2 biotech stocks making big moves today. 
  • Plus, Raytheon's unusual call volume; the restaurant going private; and the stock gapping almost 20% lower.

Midday Market Stats October 16

Among the stocks with unusual options volume is defense concern Raytheon Company (NYSE:RTN), with over 14,000 calls traded -- 13 times the average intraday norm, and pacing for the 100th percentile of its annual range. The November 190 call is the most popular, with nearly 12,300 contracts exchanged, with Trade-Alert pointing to possible buy-to-open activity. RTN stock touched a record high of $189.64 on Friday, before finishing in the red, and was last seen up 0.3% at $188.54.

The biggest gainer on the New York Stock Exchange (NYSE) is restaurant Ruby Tuesday, Inc. (NYSE:RT). The shares of RT are soaring after the company announced it will be taken private by NRD Capital for $2.40 per share. The stock was last seen 19% higher at $2.37.

One of the worst stocks on the Nasdaq today is food processing concern Natural Health Trends Corp. (NASDAQ:NHTC), with the shares gapping 19% lower to trade at $20.16, after the company issued weak preliminary third-quarter sales. The stock has now fallen 16% year-to-date, and nearly 33% since its early May high of $29.87.

Daily Chart of NHTC Since Jan 2017 Take 3

 

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