Dow Turns Lower as Investors Digest Powell Remarks

The VIX -- or Wall Street's 'fear gauge' -- is back on the rise

Managing Editor
Feb 27, 2018 at 11:58 AM
facebook twitter linkedin


Despite being slightly higher most of the morning, stocks have reversed lower at midday. Traders are eyeing new Fed Chair Jerome Powell's first Congressional testimony, where he hinted that four rate hikes could be on the horizon this year, if the economy and inflation continue to strengthen. With bond yields back on the rise, the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are lower, while the Cboe Volatility Index (VIX) is set to snap a four-day losing streak.

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

  • 25 stocks to buy now, if history is any indicator.
  • Analyst: This restaurant stock could surge after a CEO shake-up.
  • Plus, 2 big-name retailers making moves; and the plummeting weight-loss stock.

Midday Market Stats Feb 27

Among the list of stocks with unusual options volume today is big name retailer Macy's Inc (NYSE:M), with more than 100,000 call contracts traded -- 10 times what's typically seen at this point in the day. Most of the action is attributable to post-earnings spread activity at the March 27 and 29 calls. At last check, M stock was 3% higher to trade at $28.28, just off an intraday peak of $31.04 -- territory not seen since mid-March of last year.

One of the top performers on the New York Stock Exchange today is M's retail sector peer Dillard's, Inc. (NYSE:DDS). Shares of DDS are higher after the company reported a fourth-quarter earnings beat, and a rise in same-store sales. In response, the stock has gapped 11% higher to trade at $79.34, after touching a fresh nearly two-year high of $84.

One of the worst performers on the Nasdaq today is NutriSystem Inc. (NASDAQ:NTRI), after the company issued weaker-than-expected current-quarter guidance. At last check, NTRI stock was down 24.4% at $30.17, plummeting onto the short-sale restricted list and touching a fresh annual low of $28.50 in the process.

Daily Chart of NTRI Since Feb 2017

 

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