Tech Gains Lift Nasdaq, Dow Trails

The tech sector continues to come back from its recent slide

Aug 1, 2018 at 11:56 AM
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U.S. stocks are mostly higher today, led by an extended rebound from the Nasdaq Composite (IXIC). Apple's (AAPL) huge earnings win is sparking upside throughout the tech sector, as the iPhone maker adds to its gains and pushes toward a $1 trillion market cap. Traders are also reacting to this morning's upbeat jobs data, while awaiting this afternoon's Fed decision.

On a more negative note, oil prices are sliding following a surprise increase in domestic crude inventories, with September-dated crude futures last seen down $1.16, or 1.7%, at $67.57 per barrel, while reports suggest that the Trump administration is considering another round of tariffs on Chinese imports. This may be why the Dow Jones Industrial Average (DJI) is struggling to follow the Nasdaq higher.

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

midday market stats aug 1

One name seeing notable options trading today is Campbell Soup Company (NYSE:CPB). Call volume is accelerated following reports investor Daniel Loeb is pushing the company to put itself up for sale, with buy-to-open activity detected at the September 45 call, one of the most popular contracts today. Those buying the call expect CPB shares to rally above $45 in the coming weeks, a level they haven't seen since February. At last check, the stock was up 2.1% at $41.77.

campbell soup stock today

One of the best stocks on the Nasdaq today is SodaStream International Ltd (NASDAQ:SODA), as the shares explode higher thanks to an earnings beat and upwardly revised full-year outlook. SODA was last seen up 22.5% at $106.96, fresh off a new record high of $111. It's been a huge year for the at-home beverage specialist, as it's now nearly doubled in value on a year-over-year basis.

Meanwhile, NewLink Genetics Corp (NASDAQ:NLNK) is near the bottom of the Nasdaq, down more than 17% at $3.13, earlier tapping an all-time low of $2.90. The sell-off comes after the company's second-quarter report was met with bearish analyst attention. NLNK stock has now lost more than four-fifths of its value since its September peak above $19.


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