Stocks Trade Higher Ahead of Fed Decision

FedEx stock is one the biggest losers today after a weak outlook

Dec 19, 2018 at 12:01 PM
facebook twitter linkedin


The Dow Jones Industrial Average (DJI) is gaining for the second straight day, as Caterpillar (CAT) pops on the latest trade news. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are higher, as well, though today's gains are coming amid low trading volume, with traders taking a wait-and-see approach before the Fed's policy decision this afternoon and a subsequent press conference from Fed Chair Jerome Powell. In the meantime, Wall Street is also keeping an eye on oil prices, with January crude futures up 3.1% at $47.65 per barrel.

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

midday market stats december 19

There's been heavy call activity on Fitbit Inc (NYSE:FIT) today, with traders targeting the January 2019 6-strike calls. Most activity here has taken place at the ask price, hinting at potential buy-to-open activity -- though this strike was home to high open interest coming into today. FIT shares were last seen trading up 2% at $5.18, meaning these option bulls would be betting on a 15.8% rise in the weeks ahead for the fitness band maker.

One huge winner on the Big Board today is RV manufacturer Winnebago Industries, Inc. (NYSE:WGO). The company produced strong fiscal first-quarter results, sending the stock up 12.9% at $22.54, but today's move is nothing compared to the equity's long-term slide. In the past year, WGO stock has shed more than 60%.

wgo stock chart december 19

One of the biggest losers on Wall Street today is FedEx Corporation (NYSE:FDX), as the stock falls following the company's shocking full-year outlook. FDX shares were last seen down 10% at $166.40, and earlier hit a two-year low of $165.66. The writing may have been on the wall for FedEx, based on the number of bearish analyst notes that came through before earnings.
 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

 


 


 
Special Offers from Schaeffer's Trading Partners