JPMorgan, Goldman Keep Dow Higher at Midday

Constellation Brands is a big earnings winner today

Karee Venema

Jun 28, 2019 at 11:51 AM

IXIC
SPX
GS
JPM
DJI

The Dow Jones Industrial Average (DJI) is trading higher today, as big-cap bank stocks JPMorgan Chase (JPM) and Goldman Sachs (GS) pop after the Fed's annual stress tests opened the door for dividend hikes. However, the upside is modest as caution sets in ahead of this weekend's highly anticipated meeting between U.S. President Donald Trump and Chinese leader Xi Jinping. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are gaining ground, too, and even as all three indexes are set to snap their weekly win streaks, they are boasting impressive June returns.

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

Analyst: This Dow stock has double-digit return potential.
The bull note calling for AutoZone record highs.
Plus, options bull targets emerging markets ETF; a big day for Constellation Brands; and the spice stock near the bottom of the S&P.

midday market stats june 28

The iShares MSCI Emerging Markets ETF (EEM) is seeing accelerated options trading ahead of this weekend's Trump-Xi meeting. Nearly 72,000 calls have traded, 1.3 times what's typically seen. It looks like one speculator bought to open 20,000 August 44 calls for $0.67 each, betting on the emerging market exchange-traded fund to break out above $44 over the next seven weeks. EEM shares are down 0.35 today at $42.84, and haven't closed a week above $44 since early May.

Constellation Brands, Inc. (NYSE:STZ) is the best S&P stock at midday, after the beer maker reported strong first-quarter earnings and revenue. STZ shares are up 5.2% at $198.10, set to close above their 40-day moving average for the first time since late May, but running out of steam near the round $200 mark.

McCormick & Company (NYSE:MKC) is near the bottom of the SPX today, after the seasoning specialist reported second-quarter revenue that fell short of expectations. Despite a round of price-target hikes -- including one to $166 from $155 at Citigroup -- MKC stock is down 2.8% at $151.56, but finding support at its rising 80-day moving average.

mkc stock chart on june 28

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.