Oil prices are also suffering heavy losses
The Dow Jones Industrial Average (DJI) continues to move lower today, as coronavirus headwinds linger on Wall Street. A number of big-name earnings releases remain in focus, too, including Facebook's (FB), which has the social media giant as one of the worst S&P 500 Index (SPX) stocks on the day. Meanwhile, oil prices are falling alongside equities, with March-dated crude futures last seen down 1.7% at $52.45 per barrel.
Continue reading for more on today's market, including:
- The chip sector stock outperforming.
- A Dow component in focus after earnings.
- Plus, Nvidia options pick up; Casino stock jumps on Barstool buzz; and Cree stock craters.
One name seeing accelerated options trading is Nvidia Corporation (NASDAQ:NVDA), as the stock trades near session lows, last seen down 2.4% at $239.53. Leading the way is the weekly 1/31 250-strike call, followed by the 245-strike call from the same series. New positions are opening here, so traders are making short-term bets ahead of the contracts' expiration at tomorrow's close.
One of the best stocks today is Penn National Gaming, Inc (NASDAQ:PENN), rising 8.1% to trade at $31.36, following the company's $136 million stake in Barstool Sports. This move comes after the casino operator jumped 10.7% on Wednesday, bringing its six-month gain to 63%.
As for the worst stocks today, Cree, Inc. (NASDAQ:CREE) is one notable loser due to the company's disappointing fiscal second-quarter results. The stock was down 8.3% at $46.49 at last check, putting it back below the 50-day moving average. This comes after CREE stock's most recent breakout attempt stalled out near the 200-day and 320-day moving averages.
