Dow Up 245 Points on Trade Optimism

China just offered the U.S. a six-year boost in imports, according to new reports

by Lillian Currens

Published on Jan 18, 2019 at 11:57 AM

The Dow Jones Industrial Average (DJI) is set to finish the week strong, up 245 points at midday, as Wall Street celebrates positive progress in trade talks between the U.S. and China. Specifically, China has reportedly offered the U.S. a six-year increase in imports to $1 trillion per year, according to Bloomberg. Elsewhere, traders are digesting a forecast miss from Netflix (NFLX), with the stock down 2.5%, and lowered fourth-quarter guidance from Tesla (TSLA), which has slipped nearly 9%. Despite this, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC)  are both pacing for their fourth consecutive daily wins. 

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

  • 2 stocks reeling from analyst downgrades.
  • Bear signal sounds for freshly upgraded Chevron stock
  • Plus, bulls bet on Under Armour rally, Gevo's sustainable fuel buzz, and a round of downgrades for Nautilus. 

Midday Market Stats Jan 18

Under Armour Inc (NYSE:UAA) is seeing notable options activity today, with calls outpacing puts. Currently, over 10,500 calls have changed hands -- roughly seven times the average intraday pace. Traders are buying to open new positions at the February 20 call, where about 8,000 contracts have traded -- indicating that traders are betting on UAA continuing its rally above the $20 area. At last check, the shares are up 1% to trade at $20.22. 

Gevo Inc (NASDAQ:GEVO) is one of the top performers on the Nasdaq today, after the company announced last night that its alcohol-to-jet fuel (ATJ) would be used by Avfuel Corporation at a sustainable jet fuel event. The stock is up 8.2% at $3.12, at last check.

The worst stock on the New York Stock Exchange today is Nautilus Inc (NYSE:NLS), after the company lowered its fourth-quarter guidance. As a result, the stock has suffered a round of analyst downgrades and price-target cuts from Craig-Hallum, D.A. Davidson, Berenberg, and B. Riley. NLS just plummeted back below its 40-day moving average after testing its footing atop the trendline yesterday, and is now pacing for its biggest one-day drop since 2002. The fitness concern is down 39.4% at $7.14, at last check.

NLS Chart Jan 18


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