Q2 STOCKS TO BUY

Soaring Bond Yields Drop Stocks

The VIX is on track for its biggest one-day gain in nearly two months

Oct 4, 2018 at 11:56 AM
facebook X logo linkedin


U.S. stocks are getting drilled today, with both the Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) down triple digits. FAANG stocks are in the red, after Bloomberg said Apple (AAPL) and Amazon (AMZN) were victims of a hardware attack by Chinese spies. Meanwhile, robust economic data and upbeat comments from Fed Chair Jerome Powell have sent bond yields to multi-year highs. As such, the Dow is set to snap its five-day win streak, and the Cboe Volatility Index (VIX) -- or the stock market's "fear gauge" -- is eyeing its biggest one-day pop since Aug. 10. 

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

  • 2 drug stocks going crazy today.
  • The "poison pill" lifting this Amazon rival.
  • Plus, the social media stock hitting new lows; the penny stock that's doubled today; and Muddy Waters' new short pick.

MMC stock market stats oct 4

 
Snap Inc (NYSE:SNAP) is sporting unusual options volume today, with roughly 54,000 puts exchanged so far -- twice the average intraday pace. Most active is the weekly 10/5 8-strike put, where it looks like speculators are opening new positions to roll the dice on SNAP's trajectory through tomorrow's close. Shares of the Snapchat parent were last seen  4.1% lower at $7.89, and earlier touched a record low of $7.67, after both Citi and Evercore ISI cut their price targets to $7 and reiterated "sell" ratings.
 
Vaxart Inc (NASDAQ:VXRT) is sitting on top of the Nasdaq today, with the shares 119.2% higher to trade at $6.09. Traders are applauding the company's upbeat data on its experimental flu vaccine, which showed a 39% reduction in the illness compared to a placebo. Prior to today's surge, VXRT shares had spent the past few months stalling beneath the $3-$3.50 area, but today peaked at $7.60 -- territory not charted since March.
 
VXRT stock chart oct 4

 

On the other hand, Manulife Financial Corporation (NYSE:MFC) stock is near the bottom of the New York Stock Exchange (NYSE), after Muddy Waters said it's short the insurance issue. Muddy's Carson Block warned that Manulife could face billions in losses from a trial between its life insurance subsidiary and a hedge fund. At last check, MFC stock is down 2.3% at $17.64, and earlier touched an annual low of $17.29.
 
 

Which of These SUB-$5 Stocks Could 26x From Here? (AD)

He called a rare 11x on Tesla…

Then he called a 26x on Workhorse…

Then an even rarer 35x on Nio Inc…

Now Tim Bohen says these 5 tiny “America First” stocks are next up in 2025.

They’re trading for less than $5 right now.

But thanks to Elon & Trump’s new alliance…

They could be off to the races in Trump’s first 100 days.

And right now for a limited time…

You can get the names & tickers for just $1 here. (AD)

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

🚀 One Stock Pick Could Change Everything in 2025
What if one stock pick could define your success next year? Get 10 expert-vetted stocks set for 2025—plus 5 bonus picks to watch now. Get the Report →

🆕 New Options Need New Trading Strategies
Zero-DTE options are the newest (and hottest) options to trade.  Professional traders have rushed into the market and are making a mint.  Don’t get left behind - learn all about these options, how to trade them, market setups to profit from, plus much more. Download now →

👀 Revealed: 3 Defensive Stocks for Your Portfolio
Worried about the market? This free report reveals 3 under-the-radar defensive stocks for uncertain times in any kind of economy.

 

 
 

FREE Report Download

 

Follow us on X, Follow us on Twitter