Stocks Slide Ahead of U.S.-Canada Trade Deadline

Amazon and Apple again hit new highs

Aug 30, 2018 at 12:04 PM
facebook X logo linkedin

U.S. stocks are mostly lower today, though the Nasdaq Composite (IXIC) continues to flirt with positive territory after hitting another all-time high earlier. Investors are monitoring trade talks between the U.S. and Canada ahead of President Donald Trump's imposed deadline tomorrow, as well as this morning's inflation data. Yet even with tech heavyweights like (AMZN) and Apple (AAPL) rising to new highs, the S&P 500 Index (SPX) and Dow Jones Industrial Average (DJI) are well on their way to snap their four-day win streaks.

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

  • 2 penny stocks popping today.
  • Why Electronics Arts stock is set for its worst day in years.
  • Plus, call buyers blast chip stock before earnings; and two healthcare stocks making big moves.

midday market stats august 30

One stock seeing unusual options activity today is Broadcom Inc (NASDAQ:AVGO), as speculators gear up for the semiconductor company's earnings release, scheduled for after the close next Thursday, Sept. 6. Call volume has already nearly passed the daily average, and is 10 times that of put volume so far, thanks to heavy trading at the weekly 9/7 220-strike call. All signs here point to buy-to-open activity, which means options traders expect AVGO shares to top $220 by next Friday's close, when the contracts expire. Broadcom suffered an ugly bear gap a little over a month ago following the company's purchase of CA Technologies, and it was last seen trading near $215.90.

One of the best stocks on the Nasdaq today is Insys Therapeutics Inc (NASDAQ:INSY), last seen up 25.5% at $9.99, on pace for its highest close since January, thanks to news the Food and Drug Administration (FDA) has granted its allergy nasal spray and EpiPen competitor "Fast Track" status. INSY shares have burst through the 320-day moving average, a trendline that acted as a ceiling during a mid-June breakout attempt, though they're still looking up at their January peak of $14.

insy stock chart

DaVita Inc (NYSE:DVA) is a notable loser on the New York Stock Exchange, following the passage of a bill in California that could limit access to insurance coverage for kidney disease patients. DVA stock has shed 10% so far to hit $65.71, and is below its 200-day moving average for the first time since May. The dialysis expert is still up 14% on a year-over-year basis, however.

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