Dow Falls From Record High as Wall Street Takes a Breather

Retail sales data came in smaller than expected for October

Deputy Editor
Nov 17, 2020 at 11:50 AM
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Following yesterday's record highs, the Dow Jones Industrial Average (DJI) is down over 190 points midday, with Walgreens Boots Alliance (WBA) leading the losses after Amazon.com (AMZN) launched its online pharmacy. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are more modestly in the red, amid a smaller-than-expected rise in U.S. retail sales for October. Though the recent vaccine updates are still providing a much-needed positivity boost, the massive spike in coronavirus cases and likelihood of increased social distancing measures is providing more short-term uncertainty. 

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

  • A look at this outperforming sports retailer ahead of earnings. 
  • Baidu stock falling from highs despite a quarterly beat.
  • Plus, FUBO sees surge in options volume; Tesla stock soars on S&P buzz; and BCLI sees penny stock territory after failed trial.

MMCNov17

One stock seeing notable options activity on the New York Stock Exchange (NYSE) is FuboTV Inc (NYSE:FUBO), up 9% at $20.28. So far today, 24,000 calls and 5,141 puts have crossed the tape, which is already 11 times the usual daily volume. The November 20 call is the most popular -- with new positions being opened -- meaning plenty of options traders are betting on more upside by the end of this week. Year-to-date, FUBO is up 143%.

Meanwhile, Tesla Inc (NASDAQ:TSLA) is up 11.3% at $454.08 at last check, after news that the electric vehicle giant is joining the S&P 500 Index. Today's pop looks also in part to a recent bounce off that ascending 80-day moving average. Year-to-date, the equity is up around 435%. 

On the other hand, Brainstorm Cell Therapeutics Inc (NASDAQ:BCLI) is plummeting this afternoon, down 66.5% at $4. Today's drop comes after the company's ALS treatment failed to meet its main goal in a late-stage study. Nearing its Dec. 20 annual low of $3.63, the equity is still up 8.6% year-over-year. 

BCLI mmc

 

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