Dow Eyes Daily Win, But Weekly Loss

A rebound in bond yields is boosting stocks

Lillian Currens
Aug 16, 2019 at 11:57 AM
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The Dow Jones Industrial Average (DJI) is keeping the positive momentum going at midday, looking to end a wild trading week with a daily win. Anxiety is easing over bond yields, and traders are cheering President Donald Trump's comments that the U.S. and China are "having very productive talks" by phone ahead of an expected September meeting. Looking elsewhere, the tech-rich Nasdaq Composite (IXIC) is tacking on gains following semiconductor concern Nvidia's (NVDA) big earnings win, while the S&P 500 Index (SPX) is following suit. However, all three indexes are on course for a third straight weekly loss.

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

  • Options traders are expecting more upside for this China stock before earnings. 
  • Why investors should get rid of this industrial stock now, according to Goldman Sachs. 
  • Plus, calls pop on Dell; IMAC's revenue increases six-fold; and the SEC probe sinking SAEX stock. 

Midday Market Stats Aug 16

Dell Technologies Inc (NYSE:DELL) is seeing an influx of bullish activity in the options pits today, with 22,000 call contracts across the tape so far -- nine times the intraday norm -- compared to only 720 puts. It looks like the bulk of this trading is centered around the October 52.50 call and the December 50 call, with a trader likely rolling a bullish position out and down. The surge in activity comes just days after the announcement that Dell-controled Pivotal Software (PVTL) and VMware (VMW) are in buyout talks. DELL stock is up 2.7% at $48.17. 

Healthcare issue IMAC Holdings Inc (NASDAQ:IMAC) is near the top of the Nasdaq today, after reporting second-quarter revenue that surged more than 500%, completely exceeding analysts' estimates. The stock is up 21.8% at $4.28, testing recent resistance at its newly formed 100-day moving average. 

IMAC Chart Aug 16

A Securities & Exchange Commission (SEC) investigation of SAExploration Holdings Inc (NASDAQ:SAEX) accounting matters has the stock falling to the bottom of the Nasdaq. The company also said its CFO is stepping down, and delayed its quarterly filings to restate statements. The shares of the oil-and-gas provider are down $36.6% to trade at $2.05 -- pacing for their worst day in almost a year.


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