Dow Down Amid Trader Anxiety Over Earnings, China

Most FAANG stocks are lower at midday

Lillian Currens

Digital Content Manager

Jan 14, 2019 at 11:59 AM

KMI
DJI
C
AAPL

The Dow Jones Industrial Average (DJI) is looking to log its second straight loss today, with traders feeling wary ahead of earnings season -- down over 130 points at midday. Weak export data out of China is fueling concerns about the health of the global economy, while at home traders are grappling with the longest government shutdown ever. Meanwhile, a number of FAANG stocks are down, including Apple (AAPL) and Netflix (NFLX), the latter of which reports earnings later this week. Citigroup (C), on the other hand, has reversed higher after earnings. Nevertheless, the S&P 500 (SPX) and tech-rich Nasdaq Composite (IXIC) are both lower at midday, too.

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

Micron stock could be in trouble after breaching this key trendline.
Options are pricing in a big earnings reaction for this bank stock.
Plus, Kinder Morgan bears hit the exits; the penny stock that just doubled; and Verona stock takes a hit.

Midday Market Stats Jan 14

Kinder Morgan Inc (NYSE:KMI) stock is seeing notable options activity today, ahead of earnings later this week. So far, about 6,770 puts have exchanged hands, roughly six times more than the average intraday pace. Most of the action has transpired at the March 17 put, with Trade-Alert pointing to an unwinding of short positions. At last check, KMI shares were 0.4% lower at $17.05.

Microbot Medical Inc (NASDAQ:MBOT) stock is the top performer on the Nasdaq at midday, after winning a European patent for micro-robot technology. Today, MBOT stock has has nearly doubled, and could conquer its 100-day moving average after a lengthy descent below the trendline. At last check, MBOT was up 99.4% at $4.79.

MBOT Jan 14

Verona Pharma (NASDAQ:VRNA) stock is one of the worst on the the Nasdaq today, after its chronic obstructive pulmonary disease (COPD) treatment failed to meet the main goal of a mid-stage trial. The shares are headed for their worst day ever -- trading 38% lower at $6.20, at last check, and touching an all-time low of $5.64 earlier.

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