Nasdaq Pops as Apple Hits Trillion-Dollar Mark

The Dow is lagging on new trade worries

Aug 2, 2018 at 12:03 PM
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The Dow Jones Industrial Average (DJIA) is down more than 100 points at midday, as Wall Street weighs the latest trade tensions, with the Trump administration considering higher tariffs on Chinese goods. On the other hand, Apple (AAPL) continues to roar higher, lifting the Nasdaq Composite (IXIC). The company briefly hit the $1 trillion market cap earlier when the stock topped out at the $207.05 mark -- last seen just below here at $206.60. Also in focus is this morning's update on weekly jobless claims, which rose less than expected in the past week, as traders await tomorrow's nonfarm payrolls report.

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

  • Tesla stock is pacing for its best day in years.
  • 2 healthcare stocks that continue to rise.
  • Plus, options traders see a floor for one apparel concern; and 2 tech stocks making huge moves after earnings.

midday market stats aug 2

One name seeing notable options trading today is Hanesbrands Inc. (NYSE:HBI), as the stock gets hit with bearish analyst attention. Puts are trading at three times the expected pace, with the October 15 strike leading the way. However, data suggests traders are selling to open the options, suggesting they see the $15 level serving as a floor for HBI shares, which were last seen trading at $18.13.

hbi stock price aug 2

One of the best stocks on the Nasdaq today is Boingo Wireless Inc (NASDAQ:WIFI), with the shares surging 31% to $30.41 after earnings. The equity also received price-target hikes from Craig-Hallum (to $31) and Jefferies (to $33). WIFI shares earlier hit an all-time high of $30.97, and have now roughly doubled year-over-year.

On the bottom of the Nasdaq is wireless charging stock Energous Corp (NASDAQ:WATT), down 20.7% at $10.73, on pace for its lowest close of the year. The move comes after the company's second-quarter earnings release, and brings WATT stock's year-to-date decline to more than 45%.


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