Stocks Drift Lower with Fed in Focus

More importantly, Fed Jerome Powell will speak after the central bank's decision is revealed

Sep 18, 2019 at 12:08 PM
facebook X logo linkedin


U.S. stocks are broadly lower today, as traders await a likely interest-rate cut from the Federal Reserve. The post-decision press conference from Fed Chair Jerome Powell is really the biggest focal point, with Wall Street awaiting more details on the central bank's monetary policy plan. The Dow Jones Industrial Average (DJI), Nasdaq Composite (IXIC), and S&P 500 Index (SPX) are so far in the red, setting up a third loss in four sessions for the latter two indexes. Meanwhile, the Cboe Volatility Index (VIX) is only up modestly, though the "fear gauge" is eyeing its first close atop the 10-day moving average since Sept 3.

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

  • Options market reacts to FedEx earnings sell-off.
  • Inside Wedbush's big iPhone 11 call.
  • Plus, long-term traders target Live Nation; Wall Street rookie rallies; and a drugmaker down on a C-suite shake-up.

midday market stats sept 18

One name seeing interest options trading is Live Nation Entertainment, Inc. (NYSE:LYV). There has been huge action at the April 70 call, and new positions appear to be opening there. Buyers of the calls would be betting on a push above $70, while selling would indicate traders see LYV shares holding below $70 in the months ahead. The stock was last seen down 2.9% at $67.91, but finding a familiar foothold atop $67.

One stock on the rise today is web performance expert Cloudflare Inc (NYSE:NET), up 3.9% at $19.48. This is the equity's fourth day of trading on public markets, originally opening at $18 on Sept 13, after an initial public offering (IPO) of $15 per share.

Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN), meanwhile, is a notable loser today, down 5% at $102.42 on the surprise departure of the company's chief financial officer (CFO). This keeps the stock in its longer-term downtrend that's been in place since an April peak near $142.

alxn stock sept 18

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI