Tech, Car Stocks Lead Market Comeback; Spotify IPO In Focus

Stocks are climbing after yesterday's massive sell-off

Apr 3, 2018 at 12:08 PM
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A rebound in the tech sector, including a sharp bounce for semiconductor giant Nvidia (NVDA), and gains in consumer discretionary names are helping lift U.S. stock indexes today. The Dow Jones Industrial Average (DJI) was last seen boasting a triple-digit lead, with Johnson & Johnson (JNJ) and UnitedHealth (UNH) in the front of the pack. Even Amazon (AMZN) is trading higher, despite yet another negative tweet from President Donald Trump. Investors are also monitoring the highly anticipated Spotify IPO, as well as a rally in automakers General Motors (GM) and Ford (F) following upbeat March auto sales.

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

midday market stats april 3

One name seeing unusual options activity is Dow stock Apple Inc. (NASDAQ:AAPL). Puts are trading at almost twice the expected rate, and the single-day put/call volume ratio has jumped to 1.10 -- pacing in the 100th annual percentile. New positions are being opened at the far out-of-the-money May 135 and 140 puts, though the weekly 4/6 170-strike call is most popular overall at last check. AAPL stock is trading down 0.5% today at $165.88, holding right above its 200-day moving average.

IMAX Corp (NYSE:IMAX) is one of the best stocks on the New York Stock Exchange (NYSE) today, up 6.2% at $20.98, thanks to news the company has struck a deal to install its technology in 30 locations in China. IMAX shares experienced a short-lived pop earlier this year on upbeat China news, but have struggled on a longer-term basis, down almost 38% year-over-year.

On the other end of the NYSE is Snap Inc (NYSE:SNAP), as the social media stock falls 4.5% to $13.81 -- pacing for a seventh straight loss, its lowest close since its early February bull gap, and a second straight finish below the newly formed 200-day moving average. The company earlier announced a group video chat feature and a "mentions" function to tag friends, on top of news it's looking to open an office in Saudi Arabia.

snap stock price


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