Dow Extends Gains on Stimulus Optimism

June-dated crude futures are up over 27% at last check

Assistant Editor
Apr 22, 2020 at 11:57 AM
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The Dow Jones Industrial Average (DJI) is cruising at midday -- up more than 400 points at last check -- boosted by the additional stimulus measures making their way through Washington. The Senate-approved package is expected to pass the House of Representatives tomorrow, featuring $100 billion for healthcare and roughly $320 billion for small businesses. Oil prices are also seeing some relief; June-dated crude futures have bounced from their 21-year low and are up 26% at $14.53 per barrel, at last check.

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

  • COVID-19 measures are impacting Medtronic stock.
  • Chevron stock is rising as its ordered to pull out of Venezuela. 
  • Plus, PDD rather put-heavy as of late; USNA decimates old ceiling; and retail stock buried after pulling guidance.

Midday Market Stats April 22

One stock seeing notable options trading activity today is Pinduoduo Inc - ADR (NASDAQ:PDD). The Chinese e-commerce company was last seen trading up 2.7% at $52.24. At last check, over 7,500 PDD puts have changed hands, double the average intraday amount and volume pacing for the 95th percentile of its annual range. Most popular today are the weekly 4/24 48-and 49-strike puts, with buy-to-open activity detected at both. PDD has more than doubled in the last 12 months.

Near the top of the New York Stock Exchange (NYSE) today is USANA Health Sciences, Inc. (NYSE:USNA), up 14.8% to trade at $79.09 at last check, after the nutritional supplement specialist reported first-quarter earnings and revenue that toppled analyst expectations. USNA is on track to close above its 320-day moving average for the first time in over a year.

USNA Chart April 22

On the other end of the spectrum is American Eagles Outfitters Inc (NYSE:AEO), last seen down 13.2% to trade at $7.24 at last check. The clothing company is down a staggering 51.4% for the year now, after announcing today it withdrew its 2020 forecast and a $400 million capital raise. AEO is now a chip-shot from its April 2 16-year bottom of $6.62.

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