Dreary Manufacturing Data Keeps Dow in the Red

Oil prices are on the rise, though

Jan 3, 2020 at 11:57 AM
facebook X logo linkedin

The Dow Jones Industrial Average (DJI) is down more than 240 points at midday, as Wall Street weighs news a U.S. airstrike had killed top Iranian military commander, Qassem Soleimani. Iran's promise of "harsh retaliation" in response to the attack is only stoking the bearish flames, while traders are also digesting weak factory data, with the Institute for Supply Management's (ISM) manufacturing index hitting a 10-year low of 47.2 in December. Oil prices, meanwhile, are spiking, with February-dated crude up 3.1% at $63.05 per barrel.

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

  • 2 airline stocks selling off on escalating U.S.-Iran tensions
  • J.P. Morgan Securities thinks Humana can rally another 23%.
  • Plus, Snap calls in heavy rotation; behind Incyte's big sell-off; and GameStop retreats from key trendline. 

midday market stats jan 3

Snap Inc (NYSE:SNAP) is seeing unusual options activity today, as the social media stock bucks the bearish broad-market bias to trade up 1.5% at $17.02. Call options continue to be preferred, with roughly 61,000 calls on the tape, compared to 14,000 puts. Speculators may be buying to open the weekly 1/10 17-strike call to bet on bigger gains through the close next Friday, Jan. 10.

Incyte Corporation (NASDAQ:INCY) is near the bottom of the Nasdaq today, on news the company's graft-versus-host disease (GVHD) therapy, itacitinib, failed to meet its main goal in a late-stage study. A round of bear notes has ensued -- including a downgrade to "neutral" from "buy" at Mizuho -- with INCY down 10.9% at $76.64.

GameStop Corp. (NYSE:GME) is one of the worst stocks on the New York Stock Exchange (NYSE) today, down 5.8% at $5.95. The shares of the video game retailer had bounced off their late-December lows near $5.25, but ran headlong into familiar resistance at their 200-day moving average.

gamestop daily price chart on jan 3


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 C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI