Stocks Give Back Gains Despite Coronavirus Slowdown

The Dow, S&P 500, and Nasdaq all hit fresh record highs

Managing Editor
Feb 11, 2020 at 4:33 PM
facebook X logo linkedin

Despite roaring out of the gate for a new record high, the Dow finished marginally lower today. The blue-chip index pared triple-digit gains while investors unpacked the testimony of Fed Chair Jerome Powell, but ultimately pivoted lower later in the day. The S&P 500 and Nasdaq held on to their gains though, both nabbing fresh record closes thanks in part to reports that coronavirus cases in China are slowing.

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

  • Bullish signal says this chip stock has room to run.
  • Hasbro stock brushed off a revenue miss today.
  • Plus, a software stock to target; Mastercard stock's big surge; and the big wireless carrier merger that finally happened. 

The Dow Jones Industrial Average (DJI - 29,276.34) finished 0.5 point lower for the day. Intel (INTC) paced the 16 winners with a 1.5% gain, while Verizon (VZ) fell to the bottom of the barrel on a 2.6% drop. Nike (NKE) broke even. The Dow earlier hit a fresh record high of 29,415.39. 

The S&P 500 Index (SPX - 3,357.75) tacked on 5.7 points, or 0.2%, while the Nasdaq Composite (IXIC - 9,638.94) added 10.6 points or 0.1%. Each index touched fresh record highs of 3,375.63 and 9,714.74, respectively. 

The Cboe Volatility Index (VIX - 15.18) gained 0.1 point, or 0.9%. 

closing indexes summary feb 11

nyse and nasdaq stats feb 11

5 Items on Our Radar Today

  1. The second Democratic primary is underway in New Hampshire today. The crowded field is looking for separation while also erasing the negative publicity from the Iowa caucuses that delayed the release of results for days. Senator Bernie Sanders and Indiana Mayor Pete Buttigieg are the early front runners heading into today, with former Vice President Joe Biden looking to gain ground. (Reuters)
  2. The Job Openings and Labor Turnover Survey (JOLTS) fell to its lowest point in two years in December. The sudden drop at the end of 2019 is worrisome to some economists, and potentially signals a slowdown in the U.S. labor market. (MarketWatch)
  3. Buy calls on this software outperformer
  4. Mastercard just got a big China approval
  5. Sprint and T-Mobile finally tied the knot.

corporate earnings feb 11

unusual options activity feb 11

Data courtesy of Trade-Alert

Oil Bounces Back, Gold Takes a Breather

Crude futures bounced back today from yesterday's more than 52-week lows. March-dated oil added 37 cents, or 0.8%, to settle at $49.94 per barrel. Black gold is off its session highs though, after the Energy Information Administration lowered its 2020 forecast for crude prices.

Gold futures took a breather, snapping a four-day winning streak. The rise in U.S. equities related to the easing coronavirus fears fueled the pullback. Gold for April delivery gained $9.40, or 0.6%, to settle at $1,570.10 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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI