Dow Gains 260 Points Ahead of Fed Minutes

TGT stock is trading at new highs after strong earnings

Digital Content Manager
Aug 21, 2019 at 11:58 AM
facebook twitter linkedin

Strong earnings from the retail sector are boosting stocks today. Specifically, earnings wins from Target (TGT) and Lowe's (LOW) have helped put the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) back in the black, while the Dow Jones Industrial Average (DJI) is up 260 points at midday. Traders are also digesting strong housing data, with existing home sales posting their first year-over-year gain in 17 months in July. Meanwhile, investors are awaiting this afternoon's Fed meeting minutes, which precede Fed Chair Jerome Powell's speech from Jackson Hole on Friday. 

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

  • The airline stock crashing on a double downgrade. 
  • The overseas deal that's saving this struggling pot stock
  • Plus,options traders bombard TGT; LEDS stock surges on an investment; and an earnings flop has JMIA stock slipping.  

Midday Market Stats Aug 21

Retail giant Target Corporation (NYSE:TGT) is seeing a massive surge in options activity today, following an impressive second-quarter earnings report, which had the stock clocking a new record high of $102.05 earlier. Options volume is also pacing for a 52-week high, with 74,000 calls and 88,000 puts across the tape so far -- 13 times the intraday average. Most popular is the September 90 put, where a large number of these contracts are being sold to open. At last check, TGT is up 18.5% at $101.36, set to topple resistance in the $90 region. 

Chipmaker SemiLEDs Corporation (NASDAQ:LEDS) is one of the best stocks on the Nasdaq today, up 50% to trade at $3.30, after Chinese investor Xian Chang Ma said it would buy 680,000 shares of common stock at $3 per share. The equity is now eyeing its biggest one-day percentage gain this year, and its first close atop its 200-day moving average since April. 

LEDS Chart Aug 21

African e-commerce name Jumia Technologies AG (NYSE:JMIA) is one of the worst stocks today. The equity is down 11.8% at $13, after reporting second-quarter revenue that missed analysts' estimates. The company also said several class-action lawsuits relating to its initial public offering (IPO) have been filed. The stock is set to close back below its 10-day moving average, which has guided JMIA lower over the past month.


If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Common mistakes options traders make


Special Offers from Schaeffer's Trading Partners