Dow Up as Navarro Talks Mexico Tariffs

The White House trade advisor said Mexico tariffs may not have to happen

Jun 5, 2019 at 12:07 PM
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The Dow Jones Industrial Average (DJI) is riding higher -- pacing for its third straight win -- as this morning's weak jobs data keeps the spotlight on a potential Fed rate cut. Walmart (WMT) is one of the best Dow stocks at midday, as the mega-retailer kicks off its annual shareholders meeting. Easing trade tensions are creating tailwinds, too, with White House advisor Peter Navarro saying earlier President Donald Trump's proposed Mexico tariffs "may not have to go into effect." The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are higher, as well, eyeing back-to-back gains.

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

midday market stats june 5

The VanEck Vectors Gold Miners ETF (GDX) is seeing unusual options activity today, with roughly 94,000 calls and 15,000 puts on the tape -- four times what's typically seen at this point. Trade-Alert highlights a potential bull spread at the July 24 and 26 calls, the fund's two most active options today. If this is the case, the trader is targeting a move up to $26 by July options expiration, with GDX last seen trading down 0.2% at $22.55.

GameStop Corp. (NYSE:GME) is one of the worst stocks on the New York Stock Exchange (NYSE) today, down 36.7% at $4.96, after earlier tagging a 16-year low of $4.93. Last night, the video game retailer reported a first-quarter revenue miss and suspended its quarterly dividend, and GME stock has been blasted with bearish brokerage notes as a result.

Campbell Soup Company (NYSE:CPB) is one of the best stocks on the Big Board at midday, after the Pepperidge Farm parent reported better-than-expected fiscal third-quarter earnings and revenue and boosted its full-year earnings guidance. CPB stock is up 8.8% at $41.48 breaking out above previous resistance at the round $40 mark and its 320-day moving average.
 

cpb daily chart june 5

 

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