Stocks Turn Lower With Oil; Nasdaq Clings to Gains

Weekly crude inventories rose more than expected

Managing Editor
Feb 28, 2018 at 12:10 PM
facebook X logo linkedin

The Dow Jones Industrial Average (DJI) was up triple digits at its intraday peak, as stock traders initially celebrated the latest gross domestic product (GDP) estimate and shook off concerns about Fed rate hikes. However, the Dow and S&P 500 Index (SPX) have since turned lower, weighed down by healthcare and energy stocks. At last check, April-dated oil futures were 1.8% lower at $61.86 per barrel, after domestic crude inventories rose more than expected. The Nasdaq Composite (IXIC), meanwhile, is clinging to modest gains with help from FAANG stocks Netflix (NFLX) and Amazon (AMZN)

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

  • Analyst: "Avoid" this telecom stock.
  • The big pharma stock spiraling on revenue forecast. 
  • Plus, ETSY's big win; another impressive retail earnings; and a pharma stock swimming in red ink.

Midday Market Stats Feb 28

Among the list of stocks with unusual options volume today is online small-shop retailer Etsy Inc (NASDAQ:ETSY), with more than 21,000 options traded -- 14 times what's typically seen at this point in the day. Most of the action is attributable to closing activity at the now deep out-of-the-money June 15 put. At last check, ETSY stock was an impressive 22% higher to trade at $25.71, just off a nearly three-year high of $26.10 -- territory not charted since shortly after its IPO -- and up 112% year-over-year.

One of the top performers on the New York Stock Exchange today is TJ Maxx parent TJX Companies Inc (NYSE:TJX). Shares of TJX are higher after the company reported a fourth-quarter same-store sales beat. The stock has since jumped 7% to trade at $82.89, and touched a fresh record high of $83.95 during intraday trading.

One of the worst performers on the Nasdaq today is ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), after the company posted a fourth-quarter revenue miss and disappointing drug sales. At last check, the pharma stock was down 17% at $25.90, dropping onto the short-sale restricted list.

Daily Chart of ACAD Since March 2017


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI