Dow Pares Gains Ahead of Apple Earnings

Pfizer and 3M stocks are higher after earnings

by Lillian Currens

Published on Jan 29, 2019 at 12:07 PM
Updated on Jan 29, 2019 at 12:26 PM

The Dow Jones Industrial Average (DJI) was up over 140 points earlier, but has pared its gains -- and the Nasdaq Composite (IXIC) is trading lower -- as tech stocks pull back. Ahead of Apple's (AAPL) quarterly earnings release tonight, the FAANG stock is lower on news of a FaceTime glitch that allows users to "spy" on other iPhone parties. Earnings wins from blue chips 3M (MMM) and Pfizer (PFE), however, are helping keep the Dow above water at midday. 

Elsewhere, traders continue to eye U.S.-China trade tensions, following new charges against Huawei, with Chinese Vice Premier Liu He set to meet with President Donald Trump tomorrow. Wall Street is also awaiting tomorrow's Fed policy decision, with no expectations for another rate hike. 

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

  • J.P. Morgan Securities: Recent market volatility could boost this stock.
  • Behind Harley's earnings flop.
  • Plus, options bulls are betting on big moves for ROKU stock; the penny stock pacing for its best day ever; and GameStop burned on buyout buzz. 

Midday Market Stats Jan 29

Roku Inc (NASDAQ:ROKU) is seeing notable options activity today. So far, about 24,000 calls have changed hands. This number represents roughly twice the average intraday pace and almost four times the amount of puts traded. Weekly contracts are the most active, with the most interest surrounding the weekly 2/1 45-, 50-, and 44-strike calls -- suggesting that buyers are betting on more upside for the streaming concern through the end of the week. At last check, ROKU shares are down 2.1% at $42.91, reversing early gains. 

One of the top performers on the Nasdaq today is Voyager Therapeutics (VYGR), after the biotech company announced a drug development deal with Nuerocrine Biosciences (NBIX). The penny stock is now on track for its best day ever, and just touched its 80-day moving average for the first time since September. At last check, VYGR is up 45.8% at $11.72. 

vygr Jan 29

One of the worst performers on the New York Stock Exchange (NYSE) today is GameStop Corp (NYSE:GME), after the company said it is no longer considering selling itself. The video game retailer is now eyeing its worst day since December 2002 -- 26.3% lower at $11.43, and earlier touching a new 13-year low of $11.35.  


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