Dow on Pace for Fifth Straight Win, Fed Meeting in Focus

The DJI is trading back above the 26,000 level

Managing Editor
Mar 19, 2019 at 12:09 PM
facebook twitter linkedin


Eyeing a fifth straight win, the Dow Jones Industrial Average (DJI) is comfortably higher, up 134 points at midday, as investor focus shifts to the two-day Fed meeting, currently underway. Investors don't expect a policy change from the central bank, but will pore over tomorrow's statement for shifts in economic and rate forecasts. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are higher as well, helped by strength in semiconductor stocks.

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

Midday Market Stats March 19

Shoe retailer DSW Inc. (NYSE:DSW) is down 14.4% at $21.75, at last check, and is sporting unusual options volume this afternoon. The security is short-sale restricted today, after the company reported a surprise fourth-quarter loss. So far, about 7,300 calls and 3,300 puts have crossed the tape -- 39 times its average intraday pace. Most active by a long shot is the April 22.50 call, where over 4,400 contacts have exchanged hands. Today's bear gap has set the retailer back 12% year-to-date, and DSW is pacing toward its first close below $23 since last May.

The shares of Warren Buffett-backed financial technology solutions provider StoneCo Ltd (NASDAQ:STNE) are near the top of the Nasdaq today, up 22.4% at $42.36, and earlier hit an all-time high of $43.90, after the company reported solid earnings and said its active client base more than doubled. Year-to-date the stock is up 129%, and it sits 76% higher than its October initial public offering (IPO) price of $24.

Daily STNE since October IPO

One of the top stocks on the New York Stock Exchange (NYSE) is PermRock Royalty Trust (NYSE:PRT), last seen up 7% at $8.56, though the catalyst is unclear. The oil name is up 44% in 2019, but is running into familiar resistance at its 80-day moving average.

 

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!

Schaeffer's Investment Research Master Portfolio Trial
 


 


 
Special Offers from Schaeffer's Trading Partners