Dow Remains Lower as Gold Hits Fresh Highs

Gold, meanwhile, just hit a six-year high

by Lillian Currens

Published on Jan 6, 2020 at 12:06 PM

The Dow Jones Industrial Average (DJI) is still lower at midday as geopolitical tensions, sparked by the killing of Iranian military commander Qassem Soleimani, remain high. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC), however, are treading near breakeven after paring most of their intraday losses. Elsewhere, February-dated gold futures hit a six-year intraday high and were last seen up 0.8% at $1,564.50 an ounce, as investors continue to show caution by scooping up the safe-haven commodity. 

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

  • Options are hot on SmileDirectClub stock after a major deal with Walmart. 
  • RBC sees "significant" upside for this cloud stock in 2020. 
  • Plus, bears bombard IMMU; CTIB stock quadruples; and OSMT stumbles after stock offering.  

midday market stats jan 2

Immunomedics, Inc. (NASDAQ:IMMU) is seeing unusual options activity today with 1,443 puts across the tape so far -- double what's typically seen at this point -- compared to only 347 calls, and the January 2020 18-strike put is far and away the most popular. IMMU is trading relatively flat today, down 0.1% at $19.76, at last check. 

By far one of the top performers on the Nasdaq today is CTI Industries Corp. (NASDAQ:CTIB), which is up 301.3% to trade at $3.19, on news it's divesting its Guadalajara, Mexico unit for roughly $4 million. The news has CTIB pacing for its first close atop the 320-day moving average since July 2017. 

CTIB Jan 6

One of the worst stocks on the Nasdaq today is Osmotica Pharmaceuticals PLC (NASDAQ:OSMT). The stock has fallen 17.9% to trade at $5.73 -- home of its late-November levels -- after commencing its stock offering of 6 million shares. However, the shares seem to be finding support near the 50-day moving average.

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