Stocks Higher on Positive Earnings, Tax Reform Hopes

President Trump is reportedly leaning toward Jerome Powell or John Taylor to lead the Fed

Managing Editor
Oct 26, 2017 at 12:08 PM
facebook X logo linkedin

The Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are trading higher after a bout of impressive earnings, headlined by Twitter (TWTR) and Ford (F). The market is also reacting to fresh rumors that President Trump is leaning toward Fed Governor Jerome Powell or economist John Taylor to head the Fed, as well as the European Central Bank's (ECB) bond-buying plans. In addition, a narrowly passed budget in the House is fueling hopes for tax reform.

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

  • 2 drug stocks getting drilled.
  • Analyst: This restaurant stock could soar another 35%.
  • Plus, Teck's unusual options volume; Constellium soars; and Celgene plummets after earnings.

Midday Market Stats October 26

Among the stocks with unusual options volume is diversified mining company Teck Resources Ltd (NYSE:TECK), with 18,300 put options traded -- 14 times the average intraday norm, and on pace for the highest percentile of its annual range. The January 21 puts are among the most popular, with over 10,000 contracts traded, with Trade-Alert pointing to sell-to-open activity. At last check, TECK stock was down 7% at $21.30 -- finding support atop its 200-day moving average -- after the company reported earnings below forecast, and issued soft guidance for coal prices.

The biggest gainer on the New York Stock Exchange (NYSE) is aluminum producer Constellium NV (NYSE:CSTM). The shares of CSTM are soaring after the company reported a third-quarter earnings beat, and earlier touched a more than two-year high of $12.45. The stock was last seen up 13.5% at $11.80.

One of the worst stocks on the Nasdaq today is pharmaceutical company Celgene Corporation (NASDAQ:CELG), with the shares gapping 16% lower to trade at $100.28, after the company reported lackluster third-quarter sales and lowered its full-year forecast. It's the second major bear gap for CELG stock in the past week, and the shares earlier touched an annual low of $95.50.

Daily Chart of CELG Since Jan 2017


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI