Stocks Higher Ahead of Fed Minutes

Investors will dissect the Fed meeting minutes for rate-hike and inflation clues

Managing Editor
Feb 21, 2018 at 11:54 AM
facebook twitter linkedin

U.S. stocks are trading higher at midday, with the Dow Jones Industrial Average (DJI) enjoying a triple-digit lead to trade back above the 25,000 mark. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also seeing healthy gains today, as tech and financial stocks outperform. Traders are seemingly shrugging off a steeper-than-expected drop in existing-home sales in January, and are awaiting the afternoon release of the latest Fed meeting minutes, which could offer clues about inflation and future rate hikes.

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

  • Analyst: Buy this FAANG stock with the "best growth story."
  • This drug stock could enjoy a short squeeze.
  • Plus, GRMN's unusual options volume; the soaring car parts stock; and Nasdaq's biggest loser.

Midday Market Stats Feb 21

Among the stocks with unusual options volume today is GPS concern Garmin Ltd. (NASDAQ:GRMN), with more than 4,200 calls traded -- 10 times what's typically seen at this point in the day. Most of today's action is attributable to post-earnings activity at the April 65 call. At last check, GRMN stock was down 5% at $61.50, testing its 80-day moving average.

One of the top performers on the New York Stock Exchange today is automotive parts manuafacturer Advance Auto Parts, Inc. (NYSE:AAP). The shares of AAP are soaring after the company reported better-than-expected fourth-quarter earnings. At last check, Advance Auto Parts stock had jumped 12% to trade at $118.33.

Daily Chart of AAP Since Feb 2017

The worst performer on the Nasdaq today is tile seller Tile Shop Holdings, Inc.(NASDAQ:TTS), after the company reported a weaker-than-expected quarterly sales. At last check, the shares of TTS were down 28% at $6.12, and just off a new record low of $5.80.


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners