Schaeffer's Top Stock Picks for '25

Dow Gains as Bank Stocks Rally; Nasdaq Hits Another High

Stocks are overcoming a major slide in oil prices

Jun 6, 2018 at 11:58 AM
facebook X logo linkedin


The Dow Jones Industrial Average (DJI) is pushing higher today, knocking on the door of the 25,000 level. Boosting the blue-chip index are big gains from Boeing (BA) and JPMorgan Chase (JPM), with the latter benefiting from a broader rally in financial stocks. The Nasdaq Composite (IXIC), meanwhile, managed another record high, while the S&P 500 Index (SPX) is also gaining. Elsewhere, investors continue to monitor the latest trade-related headlines, along with a sharp drop in oil prices following a surprise increase in U.S. crude inventories. At last check, July crude futures were trading down 1.1% at $64.78 per barrel.

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

midday market stats june 6

One name seeing heavy options activity today is Under Armour Inc (NYSE:UAA), as call buying remains popular on the rallying retail stock. Call volume has already surpassed the daily average, and the most popular contract is the deep out-of-the-money July 30 call. All signs point to buy-to-open activity here, meaning traders expect UAA shares to eclipse $30 by the close on Friday, July 20, when the contracts expire. The stock is rallying for a fourth straight day, last seen trading up 1.5% at $23.89, earlier hitting an annual high of $24.61.

One of the best stocks on the New York Stock Exchange today is Signet Jewelers Ltd. (NYSE:SIG), after the company reported a surprise first-quarter profit and a huge sales beat. Shares of SIG are trading up 19.2% at $52.64, but earlier topped out right near their 200-day moving average. 

signet jewelers

Over on the Nasdaq, First Solar, Inc. (NASDAQ:FSLR) is continuing its recent sell-off, down 8% at $53.56, following another analyst downgrade. JMP Securities lowered its rating on FSLR to "market underperform" from "market outperform," and slashed its price target to $46 from $87. The shares, which traded above $80 back on April 27, are on pace for a sixth straight loss.

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?