Stocks Sharply Lower After Coronavirus Hits U.S.

The Nasdaq did manage a record high earlier, though

Managing Editor
Jan 21, 2020 at 4:31 PM
facebook X logo linkedin


The Dow finished lower by triple digits today and snapped a five-day winning streak in the process. The blue-chip index was down more than 200 points at its session low, after the Centers for Disease Control and Prevention (CDC) reported the first U.S. case of the coronavirus that's killed at least six people in China. Boeing (BA) also dragged on the Dow, on news the aerospace giant's grounded 737 MAX may not be cleared for flight until mid-2020.

The S&P 500 and Nasdaq joined the Dow in the red -- although the latter did nab a fresh record high earlier in the day. Amid the panic, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) logged its biggest gain since Jan. 3. 

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

  • Signal says pass on this weed stock.
  • Calls popped after Halliburton's big earnings beat.
  • Plus, a steel stock at new lows; two PT hikes for AMD; and breaking down a bullish STM trendline.

The Dow Jones Industrial Average (DJI - 29,196.04) gave back 152.1 points, or 0.5%. Intel (INTC) led the 12 winners with a 1.6% win, while Boeing (BA) paced the 18 laggards with a 3.3% drop.

The S&P 500 Index (SPX - 3,320.79) lost 8.8 points, or 0.3%, while the Nasdaq Composite (IXIC - 9,370.81) finished 18.1 points, or 0.2%, lower.

The Cboe Volatility Index (VIX - 12.85) gained 0.8 point, or 6.2%.

closing indexes summary jan 21

nyse and nasdaq stats jan 21

5 Items on Our Radar Today

  1. The impeachment trial of President Donald Trump began in the Senate this afternoon, with Supreme Court Chief Justice John Roberts presiding. Senate Majority Leader Mitch McConnell, R-Kentucky, and Senate Minority Leader Chuck Schumer, D-New York, both gave remarks on the floor starting at 1 p.m. ET. (CNBC)
  2. Consumer products company Reynolds Consumer set the terms of its initial public offering (IPO) today. The Hefty maker will offer 47.17 million shares with a price range between $25 and $28 per share, which values the company at up to $5.07 billion. (MarketWatch)
  3. This steel stock hit a nearly four-year low today.
  4. Advanced Micro Devices stock picked up two more bull notes.
  5. We went behind the curtain on this bullish STM trendline.

corporate earnings jan 21

unusual options trading jan 21

Data courtesy of Trade-Alert

Oil, Gold Slip to Start the Short Week

Oil fell again today, as investor concerns about global supply remained amid Libya's crude production issues. On their expiration day, February-dated crude futures lost 20 cents to end at $58.34 per barrel. March-dated crude futures gave back 20 cents as well, to settle at $58.38 per barrel. 

Gold prices also dropped today, as buying diminished in the wake of China's coronavirus outbreak. February gold futures fell $2.40, or 0.2%, to end at $1,557.90 an ounce.


 

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