Nasdaq, S&P Eye Record Closes as Oil Stays Hot

Coca-Cola and United Technologies are two big-cap earnings winners today

by Patrick Martin

Published on Apr 23, 2019 at 11:51 AM

The Dow Jones Industrial Average (DJI) is up triple-digits today, and eyeing its highest close since October, thanks to a upbeat quarterly earnings from blue chips Coca-Cola (KO) and United Technologies (UTX). In addition, traders are digesting a surprise jump in new home sales in March. Both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are confidently in the black, too -- and chip-shots from record closes -- as they look to lock up their third straight win. Elsewhere, rising oil prices continue to be a talking point, with May-dated crude futures up 2.6% at $65.66 per barrel, at last check. 

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

  • The movie hype helping Disney stock to record highs.
  • Hasbro could have its best day in years after a surprise profit beat.
  • Plus, struggling Newell Brands attracts options bears; the healthcare stock eyeing its best day in years; and Mattel enjoys a halo lift.

Midday Market Stats April 23

Newell Brands Inc (NASDAQ:NWL) is seeing unusual options volume today, with nearly 4,700 puts changing hands so far -- six times the average intraday volume and nearly double the number of calls traded. Most active by far is the May 15 put, which encompasses the Sharpie maker's earnings on May 2. NWL earlier tapped a seven-year low of $14.26, and has now shed 23% in 2019. The stock was last seen 0.7% lower at $14.30.

Quest Diagnostics Inc (NYSE:DGX) is up 7.4% to trade at $91.44, one of the best stocks on the S&P 500 today. Powering today's rise is the healthcare firm's first-quarter earnings and revenue, which exceeded analysts' expectations. DGX is on track for its best day since May 2015, but still remains down 7.7% year-over-year.

Also near the top of the S&P 500 today is Mattel Inc (NASDAQ:MAT), up 3.4% to trade at $12.16, enjoying a halo lift from Hasbro's surprise first-quarter profit beat. Just yesterday, MAT gapped 5.8% lower after a scathing short seller note. However, the stock is still staring up at its 100-day moving average, an area of former support that could now serve as resistance.

Daily Stock Chart MAT

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