Trade Hopes Keep Stocks Higher

The tech sector is helping lead a broad-market charge

Dec 11, 2018 at 12:04 PM
facebook twitter linkedin

U.S. stocks are enjoying broad gains at the halfway point today. While a strong day for Nike (NKE) is lifting the Dow Jones Industrial Average (DJI), tech and energy stocks are some of the strongest performers, helping boost the S&P 500 Index (SPX) and Nasdaq Composite (IXIC). Traders continue to respond to the positive headlines surrounding U.S.-China trade relations, and oil prices are rising, as well. At last check, January crude futures were trading up 1.3% at $51.65 per barrel.

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

midday market stats dec 11

One name seeing unusual options trading is The Coca-Cola Co (NYSE:KO). Trade-Alert is suggesting that one trader bought to open roughly 35,000 January 2020 40-strike puts and 18,900 January 2021 30-strike puts for a total cash outlay of roughly $5 million. If this is in fact the case, this LEAPS trader is expecting KO shares to slide considerably in the coming years. The Dow stock was last seen trading up 0.5% at $49.47, after rising 7.5% in the past three months.

One of the best stocks on the Big Board today is DSW Inc. (NYSE:DSW), thanks to another impressive earnings beat. The shares of the shoe retailer are trading up 9.8% at $25.39, after the company's third-quarter earnings topped estimates and it raised its full-year forecast. However, DSW stock is still staring up at the 50-day moving average, which blocked its last breakout attempt.

dsw stock price

Over on the Nasdaq one notable loser is biotech Entera Bio Ltd. (NASDAQ:ENTX). The shares initially surged out of the gate due to news of a licensing deal with Amgen, and in fact were at one point pacing for their best day ever, but were last seen down 8.7% at $5.01.

Special Offers from Schaeffer's Trading Partners