Stocks Slightly Higher as Apple Breathes Life Into Big Tech

Gold, meanwhile, continues to climb higher

Deputy Editor
Jul 27, 2020 at 12:19 PM
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Stocks are enjoying a day of modest gains, with the Dow Jones Industrial Average (DJI) rising over 130 points earlier in the session thanks to coronavirus-related stimulus hopes. The blue-chip index has since cooled, though it's still solidly in the black at midday. A rebound for Apple (AAPL) is leading Big Tech higher, and helping gas up the Nasdaq Composite (IXIC) at the midway mark, while the S&P 500 Index (SPX) isn't far behind.

Still, the increasing number of COVID-19 cases, paired with reignited tensions between the U.S. and China, clouded the outlook for oil demand recovery, leading investors to seek safe-haven investment, gold. At last check, crude for August delivery is down 1.3% at $40.75 per barrel, while August-delivered gold is up 1.8% at $1932.10 per ounce just within reach of its earlier record-high of $1,943.93. 

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

  • General Mills stock cools on new-found demand challenges. 
  • The Apple supplier breaking out after an analyst upgrade
  • Plus, the gold stock options players are bombarding; positive drug data sends TCRR surging; and one struggling retailer ripe for bear notes. 

Midday Market Stats July 27

One stock seeing notable activity in its options pits is Barrick Gold Corp (NYSE:GOLD). Over 37,000 calls and 14,000 puts have exchanged hands, double the intraday average. Most popular is the August 29 put, followed by the September 30 call, with positions being opened at the former. The equity was last seen up 5.5% at $30.01 -- a seven-year high -- propping it up to a year-to-date rise of 60%.

One of the best performing stocks on the Nasdaq today is immunotherapy concern Tcr2 Therapeutics Inc (NASDAQ:TCRR), last seen up 35.9% at $17.80. TCRR just announced positive interim data stemming from a Phase 1 portion of the TC-210 Phase 1/2 trial concerning mesothelin-expressing solid tumors. The news sparked a price-target hike to $32 from $25 from Wedbush. The equity boasts a 34.8% lead over the last nine months, and just broke back over its 20-day moving average after plummeting south of here last week. 

TCRR Chart July 27

Meanwhile, one stock sitting at the bottom of the Nasdaq is Children's Place Inc (NASDAQ:PLCE), last seen down 8% at $26.66. Though the catalyst for PLCE's tumble is unclear, the struggling retail stock is now looking at a year-over-year loss of 72.9% and pacing for its sixth daily loss in seven sessions. PLCE could be ripe for price-target cuts, considering this negative price action. The equity's 12-month consensus target price of $43.33 now sits at a staggering 65.1% premium to its current levels.


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