Stocks Gain as Energy Sector Leads

Home Depot and Advance Auto Parts are two big earnings winners today

by Josh Selway

Published on Aug 14, 2018 at 11:50 AM

Stocks are adding to their early gains at midday, as Wall Street enjoys a relief rally amid an uptick in the Turkish lira. The Dow Jones Industrial Average (DJI), Nasdaq Composite (IXIC), and S&P 500 Index (SPX) are all sporting solid leads, with traders turning their attention back to corporate earnings, including a strong quarterly report from blue chip Home Depot (HD). Adding to the bullish backdrop is a rise in oil prices, which has the energy sector outperforming today. At last check, September-dated crude futures were trading up 1% at $67.89 per barrel.

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

midday market stats august 14

One name seeing notable options trading today is Universal Display Corporation (NASDAQ:OLED), as bulls bet on more upside from the shares. Call volume is running at four times the expected pace today, roughly quadrupling the number of puts traded. The weekly 9/28 110-strike call is one of the most active options, where data indicates buy-to-open activity is taking place. Similar activity is also taking place at the 115-strike call from the same series. OLED stock is trading up 2.3% today at $120.18, extending its run higher following Friday's post-earnings pop.

One of the best stocks on the New York Stock Exchange (NYSE) is Advance Auto Parts, Inc. (NYSE:AAP), thanks to the company's $600 million buyback plan and a promising full-year revenue outlook. As a result, AAP stock is trading up 7.7% at $156.05, and earlier hit a 52-week peak of $159.50. Year-to-date, the auto parts retailer has gained 56%.

advanced auto stock

A major NYSE loser today is Switch Inc (NYSE:SWCH), shedding more than one-fourth of its value and hitting an all-time low of $10. SWCH shares traded as high as $24.90 the day after its October IPO, but it's been nothing but downside for the data center operator since. The stock could be pressured lower, too, if more analyst downgrades roll in.

A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!



NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories

Research Exposes Shortcut to Stock Market Wins
A simple way to stop picking losers, and start cashing in like Wall Street's elite.
Google Postpones Android Reveal, "Now is Not the Time to Celebrate"
"Now is not the time to celebrate," Google said in a message on its website
ZNGA Zooms to 8-Year High on Billion-Dollar Deal
ZNGA is planning to buy Peak for $1.8 billion
Huge New Legal Marijuana Market Has Shortage Crisis
250 million Europeans have access to medical marijuana. There's already a shortage....