Healthcare and Tech Lead Stock Market Rally

The Dow is making a big move higher after Friday's dive

by Josh Selway

Published on Apr 9, 2018 at 12:04 PM

The Dow Jones Industrial Average (DJI) is grinding higher today, as fears of a trade war recede once again. The blue-chip index was last seen up over 300 points, bouncing back from Friday's huge sell-off and marking another big market swing. Healthcare and tech are leading the way, with the former sector buoyed by big pharma M&A activity and the latter supported by a rebound in semiconductor stocks. The energy sector is also seeing strength thanks to rising oil prices. At last check, May-dated crude futures were 2% higher at $63.28 per barrel.

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

  • Analyst: This Trump plan could be bullish for GM stock.
  • 2 stocks soaring on positive drug data.
  • Plus, a homebuilder's put options pop; a penny stock making noise; and CNN report sinks ACADIA.

midday market stats april 9

One name seeing unusual options activity is homebuilder Toll Brothers Inc (NYSE:TOL), with heavy action at the April 43.50 put driving total put volume to more than twice the expected rate -- though trading remains light on an absolute basis. Data suggests traders are buying to open positions here, betting on a pullback in TOL stock in the coming weeks. The shares popped last week thanks to strong earnings from sector peer Lennar (LEN), but the downtrending 50-day moving average thwarted that breakout effort. In fact, this trendline is quickly approaching the long-term 200-day moving average, meaning Toll Brothers could be the next stock to flash a death cross.

toll brothers stock

Headset maker Turtle Beach Corporation (NASDAQ:HEAR) is one of the best Nasdaq stocks today, thanks to the company's surprisingly strong preliminary first-quarter update. Specifically, revenue is expected to come in between $39.50 and $40.50 million, compared to forecasts of $29 million, while the projected quarterly loss was also smaller than expected. After earlier hitting an annual high of $5.75, shares of HEAR were last seen trading up 48.8% at $3.81.

Near the bottom of the Nasdaq is ACADIA Pharmaceuticals Inc. (NASADQ:ACAD), following a CNN report detailing a series of death potentially related to the company's Parkinson's psychosis drug, Nuplazid. ACAD stock has fallen 23.9% to $16.38, earlier hitting a four-year low of $15.90, and landing on the short-sale restricted list. During the last reporting period, short interest on ACADIA increased 9.2%.

a schaeffer's exclusive


5 tips to leverage profits in this FREE insider report!



NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories

The Trend Minting Millionaires -- But Who Is Really Paying?
Porter Stansberry is making a concerning prediction.
Roller Coaster Week Defined by Trade Headlines, Jobs Report
The Dow made outsized moves in both directions this week
Needham is Buying Trade Desk Ahead of the 2020 Election
Trade Desk stock has more than doubled in 2019
The Trend Minting Millionaires -- But Who Is Really Paying?
Porter Stansberry is making a concerning prediction.