Stocks Lose Ground as Dismal Housing Data Rolls In

There's not much to be positive about today on Wall Street

by Josh Selway

Published on Dec 17, 2018 at 12:16 PM

The Dow Jones Industrial Average (DJI) is trading lower once again today, earlier touching another multi-month low. On top of the troubles around blue chip Goldman Sachs (GS), traders are also digesting widespread weakness in the healthcare sector after a big Obamacare court ruling, as well as some weak economic data. Specifically, homebuilder sentiment in December dropped to its lowest point in more than three years. Meanwhile, the S&P 500 Index (SPX) has joined the Dow in the red, and the Cboe Volatility Index (VIX) is edging higher.

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

  • One analyst's big sell call on Best Buy stock.
  • 3 stocks that earned Wall Street's praise this morning.
  • Plus, option bear bets big on more Amazon losses; New Age Beverages pops again; and Obamacare decision sinks UnitedHealth. 

midday market stats dec 17

There's been unusual options trading on Amazon.com, Inc. (NASDAQ:AMZN) today, as some traders bet on a huge decline in the FAANG stock. Specifically, the December 1,500 put has seen heavy attention today, including one trade where a speculator may have bought to open 536 contracts for $17.10 each, putting their initial cash outlay at almost $917,000 (contracts purchased * 100 shares per contract * premium paid). However, even this trade is just a small slice of the 4,300 contracts that have crossed at the strike today. AMZN was last seen down 2% at $1,558.60.

One notable winner today is New Age Beverages Corp (NASDAQ:NBEV), as the shares seemed to have resumed their rally from last week that was initially sparked by the passage of the new U.S. farm bill. NBEV stock was last seen trading up 10.8% at $6.58, putting it on pace for its highest close since mid-October.

One notable loser today is UnitedHealth Group Inc (NYSE:UNH), after a federal judge in Texas ruled that the Affordable Care Act, or Obamacare, was unconstitutional. UNH shares were last seen down 1.6% at $260.91, but could be finding support near the 160-day moving average.

unh stock price december 17


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