Q2 STOCKS TO BUY

Dow Soars as OPEC Rumors Boost Oil Prices

Big-cap energy stocks XOM and CVX are in rally mode

Managing Editor
May 30, 2018 at 12:04 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJI) is up triple digits at midday, as blue-chip energy stocks Chevron (XOM) and Exxon Mobil (XOM) surge alongside oil prices. At last check, July-dated crude futures were trading 2.2% higher at $68.16 per barrel, after a Reuters report suggested the Organization of the Petroleum Exporting Countries (OPEC) and other global oil producers will maintain current output cuts through the end of the year -- offsetting this morning's soft economic data. The stock market rally is broad, too, with the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) moving higher, and the Russell 2000 Index (RUT) fresh off an all-time peak.

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

  • Options bulls are winning big on this booming pharma stock.
  • Analyst targets 20% upside for this soaring tech stock.
  • Plus, Dick's and Movado surge on earnings beats; and one stock slumps to a post-earnings low.

Midday Market Stats May 30

Retail concern Dick's Sporting Goods Inc (NYSE:DKS) is seeing a surge in options volume today, with roughly 19,000 calls and 16,000 puts traded so far -- 13 times the intraday norm. Seeing notable action are the front-month June 35 and 36 puts, and the weekly 6/1 31.50-strike call. DKS stock is 27% higher to trade at $38.72, on the rise following the company's first-quarter earnings beat and raise. Longer term, the stock has been trending mostly sideways since December, but with today's lift has the shares on track to close above the $38 mark for the first time since last July.

One of the top performers on the New York Stock Exchange (NYSE) is Movado Group, Inc (NYSE:MOV), with the stock gapping higher after the watchmaker's impressive first-quarter earnings and revenue beats, and upwardly revised guidance. MOV stock is up 16.7% at $49.25, fresh off a record high of $49.85. Longer term, the shares are 128% higher year-over-year, guided by their 80-day moving average.

Daily Chart of MOV with 80MA

One of the Nasdaq's worst performers today is Daktronics, Inc. (NASDAQ:DAKT), after the billboard specialist reported an unexpected quarterly loss. At last check, DAKT stock is 18.2% lower at $8.22, earlier hitting an annual low of $7.85.

 
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.

 

 
 

Follow us on X, Follow us on Twitter