Nasdaq Eyes Longest Winning Streak Since 2009

Amazon is one of the best S&P stocks today

by Karee Venema

Published on Dec 27, 2019 at 11:56 AM

The Dow Jones Industrial Average (DJI) hit a new high out of the gate today, extending a Christmas week rally that's put the blue-chip index on track for a third straight weekly win. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) also tagged fresh peaks today, with the latter index holding above the round 9,000 mark, and pacing toward its 12th straight daily gain -- its longest winning streak since July 2009.

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

midday market stats dec 27

One name seeing unusual options volume today is Qiagen NV (NYSE:QGEN), with calls running at seven times what's typically seen at this point in the session. The January 2020 35-strike call is most active, and it looks like new positions are being purchased here. QGEN stock sank 20.6% yesterday on news the genetic testing name took itself off the auction block, but is up 3.1% today to trade at $33.94.

Amazon.com, Inc. (NASDAQ:AMZN) is near the top of the S&P 500 today, up 1.6% at $1,898.66. The FAANG stock made a decisive move higher yesterday on strong holiday sales numbers, and is now on track to close north of its 40-week moving average for the first time since September.

amzn stock weekly price chart on dec 27

American Airlines Group Inc (NASDAQ:AAL) is at the bottom of the S&P this afternoon, down 2.7% at $28.88. The travel shares recently ran into their 160-day moving average -- a trendline that's had historically bearish implications for the AAL stock.


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