Dow Edges Higher; Gains Capped on Retail, Shutdown Concerns

Macy's stock is pacing for its worst day ever

by Lillian Currens

Published on Jan 10, 2019 at 12:02 PM

The Dow Jones Industrial Average (DJI) was down triple digits earlier, as traders panned an onslaught of disappointing holiday sales reports from retailers. Plus, anxiety over a lack of details on U.S.-China trade talks also weighed on stocks early on, as did concerns over the ongoing government shutdown, as President Donald Trump threatens to declare a national emergency. Nevertheless, the Dow and S&P 500 (SPX) have reversed higher at midday, while the Nasdaq Composite (IXIC) remains in the red. A fifth straight gain for the Dow would mark its longest daily win streak since early October.

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

  • Why American Airlines stock is experiencing some turbulence today. 
  • The social media stock soaring on a double upgrade
  • Plus, options bears swarm Abercrombie & Fitch stock; INPX gets a boost; and Macy's miserable day.

Midday Market Stats Jan 10

Abercrombie & Fitch Co. (NYSE:ANF) stock is experiencing unusual options volume today. So far, about 5,500 puts and 4,900 calls have changes hands today – roughly six times the average intraday pace. Most of the action is transpiring at the January 2019 17.50-strike put, with buyers expecting more downside for the shares in the near term. At last check, ANF shares were down 8.3% at $19.24, succumbing to retail sector headwinds. 

Inpixon (NASDAQ:INPX) stock is one of the best performers on the Nasdaq today, after the data analytics concern was chosen as part of a planned "Smart School" safety network. Inpixon is set to close above its 60-day moving average, after several run-ups to the trendline since early November, and was up 57.3% at $5.16, at last check. 

INPX Chart Jan 10

Macy's Inc (NYSE:M) stock is a major underperformer on the New York Stock Exchange (NYSE) today, shrinking on its dismal holiday sales forecast. The shares just dipped to 11-month lows and are pacing for their worst day ever -- trading 19.1% lower at $25.66, at last check. 

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