Dow Swings Higher as Trade War Fears Ease

Facebook stock is sitting out the broader rally

Mar 26, 2018 at 11:47 AM
facebook X logo linkedin


The Dow Jones Industrial Average (DJI) is soaring, as reports the U.S. and China have started tariff negotiations help ease fears of a global trade war that sent the stock market spiraling last week. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also solidly higher at midday, even as Facebook (FB) stock drops into bear-market territory on news the Federal Trade Commission (FTC) is investigating the social media company's privacy practices amid the recent data-harvesting scandal.

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

  • The VXX chart pattern stock market bulls should be watching, per founder and CEO Bernie Schaeffer.
  • Why Morgan Stanley thinks Microsoft stock can rally another 49%.
  • Plus, Finish Line options bulls cash out; a surging Buffett-backed stock; and the biotech hitting new highs.

midday market stats march 26

Among the stocks with unusual options volume today is Finish Line Inc (NASDAQ:FINL), with more than 9,300 contracts traded -- about 42 times what's typically seen at this point in the day. Buyout buzz has FINL stock up 29.2% at $13.63, and it looks like some options traders are selling to close their now in-the-money April 12 calls for a volume-weighted average price of $1.68. Those who may have initially bought the calls back on Feb. 26 for $0.60 apiece have now nearly tripled their money.

USG Corporation (NYSE:USG) is at the top of the New York Stock Exchange (NYSE) today, after the construction materials company rejected an unsolicited $42 per share takeover offer from Gebr Knauf -- though Warren Buffett's Berkshire Hathaway (BRK.A) offered to sell its 31% stake in USG to the German firm for at least the buyout price. USG stock is up 16.9% to trade at $39.18, after earlier running into a familiar ceiling at the round $40 level.

usg stock daily chart march 26

Verona Pharma (NASDAQ:VRNA) is at the top of the Nasdaq, after the drugmaker reported positive mid-stage study data for its chronic obstructive pulmonary disease (COPD) treatment. VRNA stock is up 46.2% at $23.40, fresh off a record high of $24.43.

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!

 

 
 
 


 
 

Rainmaker Ads CGI