Dow Pushes Higher as Energy Leads

Treasury Secretary Steven Mnuchin also fanned the bullish flames with his CNBC interview

Jun 27, 2018 at 12:00 PM
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The Dow Jones Industrial Average (DJI) is trading deep into positive triple-digit territory, as investors react to the Trump administration's plan for foreign tech investments. Broad gains out of the energy sector are helping boost the S&P 500 Index (SPX), too. The strength in energy comes amid a sharp rise in oil prices, with August-dated crude futures up $2.40, or 3.4%, at $72.93 per barrel after data showed domestic crude inventories fell 9.9 million barrels last week -- the biggest weekly drop year-to-date. Elsewhere, U.S. Treasury Secretary Steven Mnuchin this morning told CNBC that he's expecting a "big second-quarter GDP number."

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

midday market stats june 27

One name seeing notable options trading today is Fitbit Inc (NYSE:FIT), thanks to the work of one ambitious call buyer. Specifically, 2,499 August 10 calls were seemingly bought to open earlier for 10 cents each, putting the trader's initial cash outlay at $24,990 (contracts purchased * 100 shares per contract * premium paid). This would be a bet on FIT shares rallying above $10 in the next two months, a level they haven't explored since late 2016. The stock saw a major uptick earlier this month thanks to Citron Research's optimism, and though it's pulled back since peaking at $7.79 back on June 12, the 20-day moving average could be providing support.

fit stock price

One of the best stocks on the New York Stock Exchange (NYSE) today is World Wrestling Entertainment, Inc. (NYSE:WWE). The company's new TV deals has its stock trading 4.9% higher at $69.86, and the shares earlier hit a record high of $74.72. It's been an epic run higher for WWE, which was trading near $20 this time last year.

Another notable winner on the CHARTS is small-cap Transenterix Inc (NYSEAMERICAN:TRXC). Shares of the robotic surgery specialist have been surging higher since early May, and the gains only accelerated thanks to news earlier in the week the stock would be added to the Russell 2000 Index (RUT). For example, TRXC closed April at $1.72, and was last seen trading at $5.97, fresh off a two-year high of $5.99.

 

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