Tech Leads as Stocks Grind Higher

NFLX is a familiar face atop the leaderboard

Dec 19, 2019 at 12:03 PM
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U.S. stocks are continuing their steady grind higher, overcoming impeachment headwinds thanks to a strong day from a number of big-name tech stocks -- including Dow Jones Industrial Average (DJI) component Cisco Systems (CSCO). Like the Dow, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have tagged new highs, with Netflix (NFLX) again standing as a major winner thanks to bullish analyst attention. Oil prices keep going higher, too, with January-dated crude futures last seen up 0.7% at $61.38 per barrel.

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

midday stats dec 19

One name seeing unusual options trading is Twitter Inc (NYSE:TWTR), as the social media stock keeps its hot week going. The shares rose 3.2% in yesterday's trading, and today they're edging higher again, last seen at $31.75 -- though the 50-day moving average is still applying pressure overhead. Calls are trading at three times the expected pace, and the weekly 12/27 32-strike call could be seeing buy-to-open activity, suggesting traders could be betting on more upside in the coming week.

twtr stock dec 19

One of the best stocks today is Match Group Inc (NASDAQ:MTCH), following this morning's M&A news. The shares of the online dating service provider are near session highs, up 7.2% at $76.25, putting their 12-month gain at 87%. Options traders are active too, with call volume at more than eight times the daily average.

Another winner today is Carvana Co (NYSE:CVNA), 5.8% at $98.83 thanks to a price-target hike to $120 from $95 at Citigroup. The car-buying experience specialist has seen its shares rise more than 200% in the past year, today touching a fresh record high of $99.19 earlier today.

 

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