S&P, Nasdaq Head Toward Best Week Since 2011

The VIX could log its biggest weekly loss since July 2016

Feb 16, 2018 at 11:52 AM
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It's another positive trading day, with the Dow Jones Industrial Average (DJI) eyeing a sixth straight win -- its longest daily win streak since early November. In addition to strong Coca-Cola earnings, upbeat economic data is also helping to lift investor sentiment. Namely, housing starts hit their highest point in more than a year, building permits climbed to a 10-year peak, and consumer sentiment rose to its second-highest mark in 14 years. As such, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are on track to extend their daily win streak to six. And while the Dow is pacing for its biggest weekly gain since the "Trump rally" began, the S&P and Nasdaq are headed for their best weeks since December 2011. The CBOE Volatility Index (VIX), on the other hand, is barreling toward its largest weekly loss since July 2016.

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

  • The must-see buy signal on this tech stock.
  • The Dow stock at record highs.
  • Plus, GNC's big bear roll; and the best and worst Nasdaq stocks.

midday market stats feb 16

Among the stocks with unusual options volume today is health and wellness retailer GNC Holdings Inc (NYSE:GNC), with more than 50,000 puts on the tape -- nearly 45 times what's typically seen at this point, and double the previous annual high of 22,589 puts traded in a single session from one year ago. Almost all of the action appears to be the result of one options bear rolling 24,000 June 2.50 puts out to the January 2019 series. At last check, GNC stock was up 2.3% at $4.53, but well below Tuesday's bull gap highs.

Synchronoss Technologies, Inc. (NASDAQ:SNCR) is at the top of the Nasdaq today, after the cloud computing firm said it has closed a preferred stock investment with former suitor Siris Capital. SNCR stock is up 24.7% at $9.33, but running into familiar resistance at its 80-day moving average -- a trendline that's helped usher the shares to a more than 72% year-over-year loss.

sncr stock daily chart feb 16

Apricus Biosciences Inc (NASDAQ:APRI) is at the bottom of the Nasdaq, after the Food and Drug Administration (FDA) failed to approve its Vitaros erectile dysfunction cream, citing safety concerns over a key ingredient, among other issues. At last check, APRI was down 62.7% at $1.19.

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