Stocks Keep Climbing After Nonfarm Payrolls

The retail sector is having a strong day today

Dec 6, 2019 at 11:51 AM
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Stocks continue to climb after this morning's impressive jobs report, with the Dow Jones Industrial Average (DJI) sporting a more than 300-point lead at the halfway point. Positive China buzz and rising oil prices are only adding to the bullish bias, after Organization of the Petroleum Exporting Countries (OPEC) members agreed on even deeper production cuts. At last check, January crude futures were up 1.2% at $59.13 per barrel. Energy is outperforming as a result, along with the tech and retail sectors, helping push the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) sharply higher, as well. 

  • One oncology stock an analyst is buying.
  • Traders are blasting Ulta Beauty after earnings.
  • Plus, Stitch Fix speculation ramps up; a retail winner; and Yext sinks after earnings.

midday stats dec 6

One name seeing unusual options trading is Stitch Fix Inc (NASDAQ:SFIX), as traders pick up calls at a rapid pace. Volume is accelerated at the weekly 12/13 26-strike call, 32-strike put, and 30.50-strike put, as speculators target a one-week time frame, with the contracts due to expire at the close next Friday, Dec. 13. SFIX stock was last seen up 1% at $23.47, and earnings are due out this coming Monday, Dec. 9.

One of the best stocks today is Genesco Inc. (NYSE:GCO), thanks to the retailer's strong quarterly update. GCO was last seen 31.4% higher at $48.50, putting it above recent resistance at the 200-day moving average. Data from the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows call buying was popular coming into today, so some options traders could be cheering the earnings win. 

GCO stock dec 6

One of the worst stocks on the Street is Yext Inc (NYSE:YEXT), trading down 13.7% at $14.32, after earlier touching new lows just below the $13 level. The digital media company gave a disappointing outlook that was met with a wave of bear notes from analysts.
 

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