Stocks Muscle to New Highs on Retail Strength

Economic data is also in focus today

Nov 26, 2019 at 11:55 AM
facebook X logo linkedin

Stocks have muscled their way to new highs today, with the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) each hitting fresh all-time peaks earlier. Retail stocks are some of the day's best performers so far, thanks to positive earnings reactions for several names, including Dick's Sporting Goods (DKS). Traders are also digesting a busy day of economic data, which includes an unexpected drop in October new home sales -- though September's numbers were upwardly revised -- as well as the Conference Board's consumer confidence index, which fell for a fourth straight month in November.

midday market stats nov 26

Fertilizer name Mosaic Co (NYSE:MOS) is seeing unusual options activity today, with more than 19,000 contracts traded -- 11 times the average intraday amount. The January 2020 19-strike call is most active, and it looks like new positions are being purchased, meaning traders are eyeing a breakout above $19 over the next two months. MOS stock was last seen up 0.3% at $18.69, but is still down 36% year-to-date.

Palo Alto Networks Inc (NYSE:PANW) is one of the biggest losers on the New York Stock Exchange (NYSE) today, as the cybersecurity firm's dismal current-quarter earnings forecast offsets a fiscal first-quarter profit beat. A round of price-target cuts is only increasing pressure, with PANW last seen down 10.9% at $223.01 -- a much wider move than the options market was anticipating.

Dick's Sporting Goods, Inc. (NYSE:DKS) is one of the best stocks on the Big Board this afternoon, breaking through recent congestion in the $41 region to trade up 20.1% at $47.37. What's more, the shares topped out at a two-year high of $47.79 earlier. This bull gap was sparked by the sporting goods retailer's beat-and-raise, as well as a price-target hike to $50 from $40 at CFRA.

dks stock daily price chart on nov 26


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI