Stocks Mixed With Oil, Fed in Focus

Oil prices continue to slide

by Karee Venema

Published on Nov 8, 2018 at 12:00 PM
Updated on Nov 8, 2018 at 12:07 PM

The U.S. stock market is mixed ahead of this afternoon's policy update from the Fed, due at 2 p.m. ET. Although no action is anticipated this time around, Wall Street will be looking for hints of an expected December rate hike and the central bank's 2019 policy timeline. Oil prices are also in focus, with December-dated crude futures down 0.9% at $61.10 per barrel. Against this backdrop, the Dow Jones Industrial Average (DJI) is up modestly -- pacing toward a fourth straight win -- while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are in the red.

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

  • Behind CyberArk stock's record-setting day.
  • The blue-chip buzz blasting Monster Beverage stock.
  • Plus, Take-Two Interactive options pop after earnings; the penny stock that's almost tripled; and Roku heads toward its worst day ever.

midday market stats nov 8

Among stocks seeing unusual options activity today is Take-Two Interactive Software, Inc. (NASDAQ:TTWO), with roughly 13,000 calls and 12,000 puts on the tape -- more than seven times what's typically seen, and volume pacing in the 100th annual percentile. Most active is the weekly 11/9 120-strike puts, where it looks like new positions are being sold. After being higher in premarket trading, TTWO stock was last seen down 2.9% at $122.12.

Novelion Therapeutics Inc (NASDAQ:NVLN) is the best stock on the Nasdaq today, after the rare disease specialist said its subsidiary, Aegerion Pharmaceuticals, has entered into a secured financing agreement. NVLN stock is up 163% to trade at $1.86, set to close above its 30-day moving average for the first time since late September.

nvln stock daily price chart nov 8

Roku Inc (NASDAQ:ROKU) is near the bottom of the Nasdaq today, as the streaming name's lower-than-anticipated third-quarter platform revenue offsets profit and overall revenue beats. ROKU stock is extending its October weakness, last seen down 18.3% to trade at $48.08 -- which would mark its biggest one-day loss to date.

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