Auto Tariff Update Turns Stocks Higher

Trump said a trade deal with China will happen

May 15, 2019 at 12:07 PM
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The Dow Jones Industrial Average (DJI) has moved into the black at midday, overcoming early losses, thanks to a CNBC report indicating the Trump administration will delay tariffs on auto imports from Europe for up to six months. This comes after President Donald Trump said a trade deal with China is going to happen, while investors are also monitoring soft retail sales figures in both the U.S. and China. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are higher, too, as tech outperforms.

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

midday market stats may 15

One name seeing unusual options trading today is Trade Desk Inc (NASDAQ:TTD), as short-term speculators bet bullishly on the digital advertising stock. Specifically, new positions are opening at the weekly 5/24 215-strike call, with almost all the action occurring at the ask price, suggesting the contracts are being bought to open. TTD stock was last seen trading up 7.1% today at $198.44, as it tries to recover from last week's earnings bear gap that sent it spiraling from all-time-high territory above the $230 area.

One of the best stocks today on the S&P 500 Index is Coty Inc (NYSE:COTY). The cosmetics concern is continuing its big year, adding 4.9% today to trade at $12.70, putting it on pace for its highest close since early October, and the first above its 320-day moving average in over a year.

coty stock chart

One stock trading lower today on the Nasdaq is Tilray Inc (NASDAQ:TLRY). The weed company almost tripled its revenue on a year-over-year basis, but the shares are down 4.3% at $46.63, nonetheless. For the most part, TLRY has been fading lower since it exploded to $300 back in September.

 

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