Dow Swings Higher Despite GE Nosedive

President Trump tweeted about the Republican tax plan

Managing Editor
Nov 13, 2017 at 12:00 PM
facebook X logo linkedin

Stocks have traded on both sides of breakeven today, with the Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) last seen modestly higher. General Electric (GE) stock is keeping the Dow's gains in check, down nearly 6% at a five-year low, after the company halved its dividend and cut its 2018 profit outlook. President Trump, meanwhile, attempted to curb skepticism that tax reform will get done this year, tweeting "We're getting close!" 

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

Midday Market Stats Nov 13

Among the stocks with unusual options volume is TJX Companies Inc (NYSE:TJX), with roughly 18,000 call options traded -- 23 times the average intraday norm, and on pace for the highest percentile of its annual range. The November 70 and 72.50 calls are among the most popular, with over 11,000 total contracts combined exchanged, amid heavy pre-earnings activity. At last check, TJX stock was up 2% at $71.30 -- set to close atop its 20-day moving average for the first time in more than a month.

The biggest gainer on the New York Stock Exchange (NYSE) is biotech concern Zymeworks Inc (NYSE:ZYME). The shares of ZYME are soaring after news of a license deal with Johnson & Johnson Innovation, with a potential $1.12 billion in commercial milestone payments on the horizon. The stock was last seen up 26% at $8.64.

Daily Chart of ZYME since April 2017

One of the worst stocks on the Nasdaq today is pharmaceutical company G1 Therapeutics (NASDAQ:GTHX), with the shares falling 9% to trade at $18.90 on no apparent news. Despite dropping more than 19% in the past week, the shares of GTHX are still up 26% from their May IPO price of $15.


Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!




Rainmaker Ads CGI