Dow Deep in the Red as Oil Surges

Monthly payrolls declined for the first time since 2010

Deputy Editor
Apr 3, 2020 at 12:13 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJI) is sitting with modest losses at midday, down nearly 400 points. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are following the Dow's lead with steep slides, as the Labor Department's nonfarm payrolls report fell by 701,000 in March for the first jobs decline in a decade.

The coronavirus pandemic continues to wreak havoc, with New York governor Andrew Cuomo reporting the state's biggest one-day spike in deaths yesterday. Meanwhile, energy stocks continue to be in the spotlight as oil prices rise, with May-dated crude up 4.9% at $26.60 per barrel at last check.

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

  • Apple is keeping its U.S. stores closed until early May.
  • White House pressure is weighing on 3M stock.
  • Plus, HUYA calls being sold; Live Nation stock floundering; and FC roars higher post-earnings.

Midday Market Stats April 3

One stock seeing notable options trading activity today is HUYA Inc (NYSE:HUYA). The Guangzhou-based broadcasting namewas last seen down 3.5% to trade at $16.40. At last check, nearly 2,500 HUYA calls have changed hands, double the average intraday amount. The weekly 4/9 17-strike call is leading the charge, where it looks like sell-to-close activity is detected. Elsewhere, new positions are being sold to open at the weekly 4/3 17.50-strike call.

One stock that unsurprisingly finds itself at the bottom of the S&P 500 this morning is ticket selling giant Live Nation Entertainment (NASDAQ: LYV), down 6% to trade at $31.91 at last check. LYV's fall from grace comes as global lock-downs force live events to be postponed or altogether cancelled, effectively eradicating the entertainment ticket industry. Echoing this is LYV's chart position, with its 20-day moving average acting as a stiff ceiling to the stock's recent breakout.

LYV Chart2

Meanwhile, one stock flying high today is Franklin Covey Co (NYSE:FC), last seen up 9.6% to trade at $16.84 at last check. Currently, FC is set to close above its 20-day moving average for the first time since late February. A second quarter earnings beat is powering today's breakout, but the stock is still down almost 50% year-to-date.

 

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