President Trump tweeted he will meet with China's vice premier tomorrow
The Dow Jones Industrial Average (DJI) is confidently higher at midday, as Wall Street digests the latest U.S.-China trade headlines. The blue-chip index was last seen up over 200 points, after President Donald Trump tweeted that he will meet with Vice Premier Liu He on Friday, helping stocks shake off earlier mixed messages on trade talks. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also firmly in the black, with trade-sensitive tech stocks mostly higher. In addition, oil prices are climbing, with November-dated crude futures last seen up 1.1% at $53.16 per barrel.
Continue reading for more on today's market, including:
- This penny stock is popping on a big orders update.
- Goldman Sachs is bullish on Pure Storage stock.
- Plus, call traders bullish on red-hot KB Home; Skyworks upgraded; and PG&E crippled by court ruling.
One name seeing heightened options volume today is KB Home (NYSE:KBH), with 16,000 calls crossing the tape so far -- 14 times the average intraday amount, and almost 27 times the number of puts traded. Leading the charge is the November 36 call, where new positions are being opened. The housing stock is trading at $34.10, modestly higher after a price-target hike to $35 from KBW, so options traders are banking on more gains for KBH -- which is up 79% year-to-date -- in the coming weeks.
Skyworks Solutions Inc (NASDAQ:SWKS) stock is one of the better stocks on the S&P 500 (SPX) today, up 4.4% to trade at $85.23. The Apple supplier is higher after Cowen & Company raised its rating to "outperform" from "market perform," and hiked its price target to $95 from $80 on iPhone cycle tailwinds. SWKS is breaking out of congestion below the $81 level, and is heading for its highest close since an Aug. 1 pullback.
Sitting at the bottom of the New York Stock Exchange (NYSE) today is PG&E Corporation (NYSE:PCG), down 30.2% to trade at $7.67. This comes after a bankruptcy judge cleared the path for a rival reorganization plan for the utility company. The plan would offer wildfire victims more money, and give debt holders control of the company after bankruptcy. PCG is set for its lowest close since late January.