Stocks Gain, Dow Eyes Seventh Straight

Trade optimism has been enough to keep stocks in positive territory

Josh Selway
Sep 12, 2019 at 12:01 PM
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U.S. stocks are off their morning highs, but the major indexes are still trading in positive territory halfway through the day. The Dow Jones Industrial Average (DJI) is eyeing a seventh straight winning session, as traders respond to President Donald Trump's tariff postponement, on top of stimulus plans from Europe. Wall Street's also considering comments from Treasury Secretary Steven Mnuchin, who told CNBC that the Trump administration is "seriously considering" issuing a 50-year bond.

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

midday market stats sept 12

One name seeing notable options trading is utility name PG&E Corporation (NYSE:PCG), as new positions open in the weekly 9/27 series. The 11.50-strike call is most popular by a wide margin, and next up is the 13-strike call, with some of the action here potentially part of a call ratio spread. Longer term, new positions are also opening at the October 13 and 14 calls. PCG shares were last seen down 3.1% at $10.35.

One of the best stocks today is Overstock.com Inc (NASDAQ:OSTK), as it looks for a seventh straight up day. The shares were last seen up 8.8% at $24.77, as the blockchain specialist benefits from buzz around its token platform tZero. OSTK has been rallying higher since another meet-up with its 200-day moving average earlier this month.

ostk stock chart sept 12

One stock sinking on the charts today is Mastercraft Boat Holdings Inc (NASDAQ:MCFT). The shares have shed 20.5% to trade at $14.51, following the company's disappointing fiscal fourth-quarter results. MCFT is down more than 60% year-over-year.

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