Dow Treads Water, Tech Drags Nasdaq

The Dow has given back triple-digit gains from the morning

Deputy Editor
Apr 28, 2020 at 12:06 PM
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The Dow Jones Industrial Average (DJI) is experiencing some serious volatility at midday, giving back triple-digit gains from the morning and currently dancing around breakeven despite positive blue-chip earnings reports. Meanwhile, the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are currently in the red, with an underperforming tech sector weighing on the former. Additionally, black gold is falling once again, with June-dated crude futures last seen trading down 6.2% at $11.93 amid mounting storage fears. 

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

  • JetBlue stock is taking flight amid face-covering requirements.
  • Harley Davidson stock is zooming upward after earnings.
  • Plus, call traders smiling on this teledentistry stock; Simpson Manufacturing flying high after upgrade; and TDOC support steps up.

Midday Market Stats April 28

One stock seeing notable options trading activity today is SmileDirectClub Inc (NASDAQ:SDC). The teledentistry stock was last seen trading up 19.5% at $6.44. At last check, just over 53,000 calls have crossed the tape, triple the average intraday amount and volume ranking in the 99th percentile of its annual range.The most popular options are the weekly 5/1 6- and 7-strike calls, with just over 15,000 options exchanging hands and new positions being bought to open at the latter. 

One stock climbing the New York Stock Exchange (NYSE) today is Simpson Manufacturing Co, Inc. (NYSE:SSD), up 17.3% to trade at $74.21 at last check. Yesterday, the construction supplies company beat Wall Street's earning estimates, and today, D.A. Davidson issued an upgrade to "buy" from "neutral." SSD is up just over 16% this quarter, and set to close above its 40-day moving average for the first time since early March.

SSD Chart April 28

At the other end of the spectrum is Teladoc Health Inc (NYSE:TDOC), last seen down 8.4% to trade at $178.73. Despite this, Teladoc stock is still up 114.6% year-to-date, and has been steadily climbing the charts since the beginning of the year. And despite today's pullback, the shares' 20-day moving average is stepping up as support.

 

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