Dow Inches Higher as Wall Street Watches Bank Stocks

Meanwhile, the S&P and Nasdaq are sliding lower

by Lillian Currens

Published on Jan 14, 2020 at 11:48 AM

The Dow Jones Industrial Average (DJI) has explored both sides of breakeven, before eventually climbing higher midday, as Wall Street's attention remains glued to a spate of earnings reports out of the finance sector, including JPMorgan Chase (JPM) and Wells Fargo (WFC). Meanwhile, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have erased this morning's tepid gains, sliding slightly lower at the halfway point. Oil for February delivery, on the other hand, is on track to snap its bearish five-day streak, up 0.3% at $58.24 per barrel as investors keep a close on this week's upcoming "phase one" trade deal signing. 

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

  • The video game stock Stephens it dropping, and which one it's picking up. 
  • Why Goldman Sachs is rooting for Netflix stock
  • Plus, bulls bombard surging PINS stock; TRXC clears key trendline on FDA approval; and STML stock sinks on drug sales. 

Midday stats Jan 14

Pinterest Inc (NYSE:PINS) is seeing an unusual amount of options activity today, with 56,000 calls and 5,392 puts across the tape so far -- 12 times what's typically seen at this point. The January 2020 21-strike and 20.50-strike calls are seeing the most activity, with potential buy-to-open action occurring at the latter. PINS is up 7.2% at $21.04, at last glance, and is eyeing its highest close since October. 

Transenterix Inc (NYSE:TRXC) is one of the best performers on the New York Stock Exchange today, up 52% to trade at $2.24 after the Food and Drug Administration (FDA) cleared its Intelligent Surgical Unit device, which allows machine vision capabilities during robotic surgeries. Now, TRXC is set to take out its 30-day moving average for the first time since August. 

TRXC Jan 14

Stemline Therapeutics Inc (NASDAQ:STML) is one of the worst stocks on the Nasdaq today, following a sales announcement for its rare blood disease treatment, Elzonris, which netted a revenue of $43.2 million, missing analysts' estimates. The stock has shed 32.4% to trade at $6.38, on track for its lowest close in three years. 

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