Stocks Head Toward Worst Week Since Early February

China's tariff proposal and a possible government shutdown are weighing on investor sentiment

Mar 23, 2018 at 11:56 AM
facebook X logo linkedin


It's been a wild ride on Wall Street today, with the Dow Jones Industrial Average (DJI) exploring a nearly 267-point range on both sides of breakeven. Most recently, the blue-chip index was seen trading lower, as uncertainty surrounding a possible government shutdown after President Donald Trump threatened to veto an omnibus spending bill passed by Congress overnight and China's retaliatory tariff proposal overshadow a positive earnings reaction for Nike (NKE). The S&P 500 Index (SPX) and the Nasdaq Composite (IXIC) are lower, too, with all three indexes pacing for their worst weeks since early February.

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

  • The Dow stock down on disappointing drug data.
  • Analyst: This tech stock can rally another 14%.
  • Plus, General Mills put sellers pounce; Micron stock sinks; and a plunging penny stock.

midday market stats march 23

Among the stocks with unusual options volume today is General Mills, Inc. (NYSE:GIS), with nearly 21,500 contracts traded -- five times what's typically seen. Almost all the action is centered at the April 45 put, and Trade-Alert points to mostly sell-to-open activity. GIS stock plunged earlier this week after the packaged food firm cut its full-year outlook -- but found a foothold near $45 -- and was last seen trading up 1.6% at $45.16.

GIS daily chart march 23

Micron Technology, Inc. (NASDAQ:MU) is a notable decliner on the Nasdaq today, after Citigroup downgraded the chipmaker to "neutral" from "buy" post-earnings, citing concern over falling NAND prices. MU stock is down 4.4% to trade at $56.35 -- and could continue to struggle during next week's trading, as well.

However, the worst stock on the Nasdaq so far today is Sphere 3D Corp (NASDAQ:ANY), after the data storage firm reported its fourth-quarter results last night. Most recently, ANY stock was down 24.9% to trade at $1.32, and earlier hit a record low of $1.25.

 

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 C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI