Stocks Sail to New Highs on Trade Buzz, Retail Sales

Upbeat trade headlines and economic data are fueling the risk-on session

by Karee Venema

Published on Nov 15, 2019 at 11:57 AM
Updated on Nov 15, 2019 at 12:01 PM

It's a record-setting day on Wall Street today, with the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) trading at all-time peaks. Sparking the risk-on session are upbeat U.S.-China trade headlines, as well as a bigger-than-expected rise in October retail sales. This is offsetting a wider-than-anticipated drop in industrial orders last month, with all three indexes set to extend their weekly win streaks to four (for the Dow), six (for the S&P), and seven (for the Nasdaq).

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

midday market stats nov 15

Nvidia Corporation (NASDAQ:NVDA) is seeing heavy options trading, with nearly 206,000 contracts on the tape so far -- six times what's typically seen, and volume pacing in the 100th annual percentile. Day traders are opening new positions in the November series, which expires at tonight's close, with the 205-strike put most active. NVDA stock is off 3.3% at $202.94, as the chipmaker's downbeat current-quarter revenue forecast overshadows a third-quarter beat.

Farfetch Ltd (NYSE:FTCH) is one of the best stocks on the New York Stock Exchange (NYSE), as the luxury retailer's strong third-quarter results offset a round of price-target cuts. Most recently, FTCH stock -- which hit a record low of $7.43 yesterday -- is up 25.1% at $9.35, though its descending 80-day moving average sits just overhead.

ftch stock daily price chart on nov 15

Senmiao Technology Ltd (NASDAQ:AIHS) is at the top of the Nasdaq, after the China-based lending platform swung to a profit in its fiscal second-quarter, compared to quarterly loss one year ago. At last check, AIHS stock is up 226.8% at $1.37, set to close above its 120-day moving average for the first time since mid-June.


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