Economic Data Boosts Dow to Fresh High

The S&P and Nasdaq also nabbed more fresh highs

Digital Content Manager
Jan 16, 2020 at 11:51 AM
facebook twitter linkedin

The Dow Jones Industrial Average (DJI) has continued its steady rise higher at midday, touching another record high, as Wall Street looked towards promising economic data, namely upbeat retail sales and jobless claims. A post-earnings pop from bank name Morgan Stanley (MS) and a finalized "phase one" trade deal has also helped boost stocks, with the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) grabbing more fresh intraday peaks. 

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

  • Behind Ben & Jerry's new Netflix-themed flavor
  • The C-suite shakeup rattling Outdoor Brands stock. 
  • Plus, options bulls snap up TUP stock; SIG stock keeps climbing on holiday sales report; OPRA hits fresh low on short-seller note.

midday stats jan 16

Tupperware Brands Corporation (NYSE:TUP) is seeing an unusual amount of bullish activity in the options pits today. So far, 11,000 calls have crossed the tape -- seven times the intraday average -- compared to just 180 puts. The February 10 call is the most popular, followed by the January 2020 10-strike call, with positions being purchased at both. TUP is up 3.5% to trade at $9.47 at last check. 

One of the best performers on the New York Stock Exchange is Signet Jewelers Ltd. (NYSE:SIG), which has added 36.8% to trade at $29.51, thanks to upbeat holiday sales data. The jeweler also upped its 2020 full-year forecast, citing new products and online sales investments. The stock is on pace for its fifth straight win, and just cleared its 320-day moving average for the first time since November 2018. 

SIG Chart Jan 16

One of the worst stocks on the Nasdaq today is Norway-based software company Opera Ltd (NASDAQ:OPRA), which has shed nearly 13% to trade at $7.83 after the short-seller Hindenburg Research forecast 70% downside to last night's close. OPRA just hit a nine-month low, and is headed for its biggest one-day percentage drop since August 2018. 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Best stocks for October and worst stocks for October


Special Offers from Schaeffer's Trading Partners