Dow Eyes Fifth Straight Win Despite Tech Pullback

Fed Chair Jerome Powell reiterated expectations for gradual rate hikes

Managing Editor
Jul 18, 2018 at 12:00 PM
facebook X logo linkedin

Stocks are mixed today, with the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) sporting gains -- and the former on track for its fifth straight win -- while the Nasdaq Composite (IXIC) is lower due to a pullback in the tech sector. FAANG stocks in particular are struggling, as Alphabet's (GOOGL) Google faces a hefty $5 billion fine from the European Union (EU), Netflix (NFLX) extends its post-earnings drop, and (AMZN) takes a breather after Prime Day. In other news, traders are eyeing the biggest one-month drop in U.S. housing starts since November 2016. Meanwhile, Fed Chair Jerome Powell spent another day on Capitol Hill, reiterating his expectations for gradual rate hikes before the House Financial Services Committee.

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

  • This sentiment signal also flashed in March 2009.
  • 2 coffee stocks hit with analyst attention this morning.
  • Plus, options bulls race to Travelers stock before earnings tomorrow; Delta stock gets a halo lift; and Marathon Oil stock continues to sink.

Midday Market Stats July 18

One name seeing notable options trading today is Travelers Companies Inc (NYSE:TRV), where more than 3,300 calls have traded -- 12 times what's typically seen at this point, and volume pacing for the 100th percentile of its annual range. Leading the charge today is the August 135 call, with over 2,400 contracts exchanged, and new positions being opened.  It seems options traders are hoping for a post-earnings move higher ahead of the company's quarterly release before the open tomorrow. Year-to-date, TRV has shed 4%. 

Delta Air Lines, Inc. (NYSE:DAL) is one of the best stocks on the New York Stock Exchange (NYSE) so far today, up 4.2% to trade at $53.27, getting a halo lift after an upbeat earnings report from sector peer United Continental (UAL). Delta stock is on track for its best day since Jan. 11, and is set to finish above its formerly supportive 320-day moving average for the first time in nearly a month. 

dal stock chart july 18

On the other end of the spectrum is Marathon Oil Corporation (NYSE:MRO), one of the worst S&P 500 stocks today and down 2.3% to trade at $19.60. The drop today has MRO shares on track to close below their 80-day moving average for the first time since early April. Nevertheless, Marathon stock scored a three-year high of $22.74 just last Tuesday.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI