Stocks Push Higher Again; Oil Gains

Stocks, broadly speaking, are posting modest gains today

by Josh Selway

Published on Sep 9, 2019 at 12:01 PM

The Dow Jones Industrial Average (DJI) is holding in positive territory today, putting the index on pace for a fourth consecutive win. Optimism toward U.S.-China trade could be a main driver, after Politico reported over the weekend Beijing may boost its U.S. agriculture purchases as part of broader negotiations -- sending Caterpillar (CAT) near the top of the Dow.

The energy sector is also an area of strength, rising alongside oil prices. At last check, October crude futures were up 2.8% at $58.10 per barrel, getting a boost from expected output cuts from Saudi Arabia. This, along with gains out of the retail space, has the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) in positive territory, as well.

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

midday market stats sept 9

One name seeing accelerated options trading today is NetApp Inc. (NASDAQ:NTAP). The stock is trading up 3.3% at $53.70, after Susquehanna upgraded it to "positive" from "neutral," and lifted its price target to $75 from $54. However, the most popular contract today is the December 55 put, where buy-to-open activity could be taking place. If so, this trader would be betting on NTAP shares holding below $55 in the months ahead.

One hot stock today is Microbot Medical Inc (NASDAQ:MBOT), extending last week's rally. The shares are trading up 10.2% at $7.78, set for a second straight close above the 320-day moving average. An area of technical support could be found near the $7.50 area, around the July highs, though the $8.40 region may be acting as a ceiling.

mbot stock today

One big loser today is Twilio Inc (NYSE:TWLO), due to a broader pullback in software and cloud stocks. The shares were last seen trading down 7.6% at $114.36, set for their first close below the 200-day moving average in over a year. The stock is now testing the positive 30% year-to-date return level.

a schaeffer's exclusive

5 NEW STOCK PICKS

We're celebrating 38 years with this FREE insider report!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Market-Moving Event Just 60 Days Away
This analyst predicts a major market moving event happening as soon as August 13.
Chinese Stock Swings Higher on Buyout Bid
Ritter Pharmaceuticals stock is among the worst on the Nasdaq today
Stocks Grab Another Weekly Win as Trade Picture Brightens
Stocks spent most of the week in positive territory
The Market-Moving Event Just 60 Days Away
This analyst predicts a major market moving event happening as soon as August 13.