Q2 STOCKS TO BUY

Stocks Fall, Gold Gains as Political Uncertainty Ramps Up

Two political figures tied to Trump's presidential campaign were indicted on conspiracy charges

Oct 30, 2017 at 4:26 PM
facebook X logo linkedin


Despite a fresh all-time high for the Nasdaq Composite (IXIC) in early trading, it was ultimately a rocky start to the week for U.S. stocks. Traders responded to the latest developments out of Washington, D.C. -- including reports that the House is considering a plan to gradually reduce the corporate tax rate, and federal conspiracy charges for former Trump campaign manager Paul Manafort and his business partner Rick Gates. Meanwhile, Dow drug giant Merck (MRK) suffered its biggest two-day sell-off since February 2009, and dragged its peers in the pharmaceutical sector along for the ride.

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

  • 2 blue-chip stocks screaming "buy" right now.
  • How options traders are playing Under Armour stock ahead of tomorrow's earnings.
  • The retail break-up that put Iconix stock on the short-sale restricted list.
  • Plus, options traders target Apple suppliers and social media stocks, while China's e-commerce behemoth scores a new "buy" rating.

The Dow Jones Industrial Average (DJIA - 23,348.74) ended with a loss of 85.5 points, or 0.4%. Apple (AAPL) led the nine Dow gainers with a 2.3% advance, while MRK paced the 21 losers with a 6.1% drop.

The S&P 500 Index (SPX - 2,572.83) ended down 8.3 points, or 0.3%. The Nasdaq Composite (IXIC - 6,698.96) touched a record high of 6,727.39, before ending with a loss of 2.3 points, or 0.03%.
 
The CBOE Volatility Index (VIX - 10.50) gained 0.7 point, or 7.1%.

Closing Indexes Summary Oct 30
NYSE and Nasdaq Stats Oct 30

5 Items on Our Radar Today

  1. Sprint parent company Softbank is reportedly planning to terminate its merger with T-Mobile due to a failure to agree on ownership of the company. Shares of the big-name telecoms surged in mid-September, when the merger talk first surfaced. (CNBC)
  2. A Washington-based U.S. judge temporarily blocked President Trump's plan to implement a transgender ban in the military, citing a lack of evidence that proves such a ban would be effective. (Bloomberg)
  3. 3 Apple suppliers that saw unusual options activity today.
  4. Behind Alibaba Group stock's newest "buy" rating.
  5. How options traders are playing Facebook and Twitter stocks before Wednesday's congressional hearing.


Corporate Earnings Oct 30

Unusual Options Activity Oct 30
Data courtesy of Trade-Alert

Commodities

Crude prices settled higher today, on expectations that production cuts led by the Organization of Petroleum Exporting Countries (OPEC) would be extended beyond March. December-dated oil futures ended up 25 cents, or 0.5%, at $54.15 per barrel.

Gold also ended higher today, reversing earlier losses, as political uncertainty ramped up in the wake of today's indictments. December-dated gold ended up $5.90, or 0.5%, at $1,277.70 an ounce.

 
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.

 

 
 

Follow us on X, Follow us on Twitter