Dow Rebounds Off Last Week's Dip

The Nasdaq and S&P 500 are also enjoying sizable midday gains

Digital Content Manager
Jun 29, 2020 at 12:29 PM
facebook X logo linkedin

The Dow Jones Industrial Average (DJI) is keeping up its morning momentum, up over 400 points by midday, as Boeing (BA) continues to lead the charge. Investors are looking past yet another spike in COVID-19 cases, perhaps consoled by a dip in deaths related to the disease. Meanwhile, the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are sporting sizable gains, as several big names including Facebook (FB) and Starbucks (SBUX) pivot higher. These two companies --along with several others -- initially stumbled into Monday's trading after announcing a pause in social media advertising in order to quell the spread of hate speech. Oil is also getting a boost; crude for August delivery is up 1.7% at $39.09, buoyed by a one-month rise in China's industrial profits -- its first in six months. 

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

  • The furlough news moving one flight stock higher. 
  • How much insurance companies can expect to pay for Gilead's coronavirus vaccine.
  • Plus, PINS gets some bullish attention; IDEX refutes short-seller claims; and oil stock flounders.  

Pinterest Inc (NYSE:PINS) is seeing an unusual amount of bullish activity in its options pits today. So far 32,000 calls have crossed the tape -- triple the intraday average -- compared to just 4,471 puts. The most popular by far is the August 21 call, where new positions are being bought to open. At last check, Pinterest stock is trading at $21.52, with its 50-day moving average is working to contain some earlier downside. 

Ideanomics Inc (NASDAQ:IDEX) is one of the best performers on the Nasdaq today, up 50.7% at $2.20 at last check. The breakout comes after the financial name refuted claims made by short-sellers J Capital and Hindenburg, stating that the two published negative reports that were self-interested and misinformed. Last week, IDEX took a sharp nosedive off its June, 22 peak of $3.98, clocking its worst week since November 2019. The security's 30-day moving average, however, provided some support on the charts. 

Whiting Petroleum Corp (NYSE:WLL) is near the bottom of the New York Stock Exchange (NYSE) today, last seen down 6.6% at $1.1, although the exact catalyst is unknown. The oil-and-gas stock has taken a 93.6% haircut in the last 12-months, but has distanced itself from the April 2 bottom of $0.25. 


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