Stocks Grab New Highs in Choppy Session

There wasn't a ton of action on Wall Street today

Nov 18, 2019 at 4:34 PM
facebook twitter linkedin

Stocks traded in a tight range today, but though the Dow, S&P 500, and Nasdaq closed near breakeven, all three indexes managed to grab fresh record highs. Trade uncertainty was hanging over equities early on, with the weakness spreading to the commodity space, where oil prices struggled. The action could pick up tomorrow, however, as earnings will come into focus due to a quarterly update from blue chip Home Depot (HD).

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

  • The drug stock that soared 400%.
  • Put players are jumping on Urban Outfitters before earnings.
  • Plus, call buyers stay on health insurer; traders target consolidating stock; and signal says Ferrari going higher. 

The Dow Jones Industrial Average (DJI - 28,036.22) ended the day up 31.3 points, or 0.1%. Fourteen of the 30 Dow components closed with gains, led by Walt Disney's (DIS) 2.1% rise. Chevron (CVX) paced the losers, falling 1.7%.

The S&P 500 Index (SPX - 3,122.03) added 1.6 points, or 0.05%, and the Nasdaq Composite (IXIC - 8,549.94) rose 9.1 points, or 0.1%.

The Cboe Volatility Index (VIX - 12.46) added 0.4 point, or 3.4%.

Closing Indexes Summary Nov 18

NYSE and Nasdaq Stats Nov 18

5 Items on Our Radar Today

  1. Stadia, the streaming video game service from Alphabet's (GOOGL) Google, launched today. This version costs users $10 a month, with a free version expected to come out next year. Probably unsurprisingly, some have noted technical glitches in the service's technology. (Fortune)
  2. It was another dismal day for publicly traded marijuana growers. These stocks were already getting hit hard on the charts, and another sharp sell-off from Aurora Cannabis (ACB) in the wake of Friday's poor quarterly report only added new pressure today. (MarketWatch)
  3. Call buyers keep betting on this hot health insurer.
  4. How traders are playing the consolidation in Huntsman shares.
  5. A signal showing potential upside for Ferrari.

Unusual Options Activity Nov 18

Gold Prices Get a Lift

As mentioned, it was a bad day for oil prices. December crude futures fell 67 cents, or 1.2%, to $57.05 per barrel.

Gold prices, meanwhile, benefited from a weaker dollar. December gold futures finished up $3.40, or 0.2%, at $1,471.90 an ounce.

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Schaeffer's Daily Bulletin Offer


Special Offers from Schaeffer's Trading Partners