Dow Clings to Triple-Digit Gains, Nasdaq Takes Breather

The Nasdaq is swimming in red ink this afternoon

Deputy Editor
Jul 15, 2020 at 12:26 PM
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The Dow Jones Industrial Average (DJI) has pulled back a little by midday, but is still up triple digits as Wall Street trains its eye on this morning's vaccine update and a stunning earnings beat from Goldman Sachs (GS). The S&P 500 (SPX) is also enjoying modest gains at the midway mark, as cruise and travel stocks strengthen, though the Nasdaq Composite (NDX), is taking a breather. Meanwhile, oil prices are up ahead of the Organization for Petroleum and Energy Countries' (OPEC+) latest decision on crude production. At last check, oil for August delivery is up 1.3% at $40.83 per barrel.

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

Midday Market Stats July 15

One stock seeing a notable amount of activity in its options pits is General Electric Company (NYSE:GE). Over 162,000 calls have exchanged hands so far today -- five times the intraday average -- compared to roughly 13,000 puts. The most popular is the January 2021 10-strike call, followed by the July 7 cal, which expires this Friday, July 17. The stock is up 3.9% at $7.14, but down 36.3% year-to-date. 

One of the best performing stocks on the Nasdaq today is China Finance Online Co. (NASDAQ:JRJC), last seen up 226.8% at $24.20 after earlier grabbing a fresh two-year high of $31.40. The web-based financial services company announced it will partner with Dow Jones (DJ) to provide financial news on its platform. As a result, JRJC is up 285% this quarter with support at the 320-day moving average -- a trendline that previously acted as a ceiling -- firmly in place. 

JRJC Chart 2 July 15

After marking its debut yesterday as the biggest initial public offering (IPO) mover for a U.S. tech company in two decades, Ncino Inc (NASDAQ:NCNO) is cooling off, and shaping up to be one of the worst performers on the Nasdaq today. Starting out with an IPO price of $31, the shares skyrocketed from there, ending the day at $91.59. At last check, the  stock is down 14.7% to trade at $78.12, though it still sits at a 152% premium to its IPO price. 


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