Stocks, Oil Stabilize Ahead of Thanksgiving Holiday

January crude futures are up 1.6% at midday

Nov 21, 2018 at 11:54 AM
facebook X logo linkedin


The Dow Jones Industrial Average (DJI) is paring a portion of its massive Thanksgiving week losses in today's low-volume session, boosted by a big bounce in tech and energy stocks. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are up, as well, with oil prices also stabilizing. At last check, January-dated crude is 1.6% higher at $54.31 per barrel. This is offsetting a dismal round of economic data, which includes a wider-than-expected decline in durable goods orders last month, a sharp rise in weekly jobless claims last week, and the University of Michigan's lower-than-forecast reading on consumer sentiment for October.

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

  • Analyst: Buy the dip on this beaten-down California utility stock.
  • This retail stock is breaking above short-term resistance after earnings.
  • Plus, Autodesk options pop after earnings; the Chinese stock near the top of the Big Board; and the tech name that's doubled today.

midday market stats nov 21

Autodesk, Inc. (NASDAQ:ADSK) is seeing unusual options activity today, with roughly 8,000 puts and 7,900 calls on the tape so far -- seven times the expected intraday amount. New positions are being intiated at the weekly 11/23 132-strike put and 140-strike call, which expire at Friday's 1 p.m. ET close. ADSK stock is up 9.1% to trade at $134.21 after the Apple partner reported impressive third-quarter results and said it's buying construction software firm PlanGrid for $875 million in cash.

adsk stock daily chart nov 21

Cheetah Mobile Inc (NYSE:CMCM) is near the top of the New York Stock Exchange (NYSE) today, after the China-based app creator reported third-quarter earnings. CMCM stock is up 10.1% to trade at $9.34, but remains down 22.7% year-to-date.

Ability Inc (NASDAQ:ABIL) is the top stock on the Nasdaq today, after the Israel-based satellite company said it is purchasing its main cellular interception system supplier. ABIL stock is up 100.4% to trade at $5.65, but is being contained by familiar resistance in the $6 region.

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!

 

 
 
 


 
 

Rainmaker Ads CGI