Stocks Lower As Positive Stimulus Talks Fail to Gain Traction

Millions of Americans are at risk of losing unemployment benefits in 2021

Deputy Editor
Dec 11, 2020 at 11:59 AM
facebook X logo linkedin


The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are on track for their first weekly loss in three weeks, as bipartisan negotiations surrounding additional coronavirus-related stimulus -- despite being positive -- are going relatively nowhere. At midday, the blue-chip index is down 84 points, as millions of Americans are at risk of losing unemployment benefits in the new year. Elsewhere, the Nasdaq Composite (IXIC) is lower for the day and week as well, dragged down by shares of companies like United Airlines (UAL) and Tesla (TSLA). Lastly, sentiment surrounding advances in Pfizer (PFE) and BioNTech's (BNTX) is helping to keep a lid on losses, as the Food and Drug Administration (FDA) advisory panel recommended emergency approval for the COVID-19 vaccine.

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

  • SolarEdge stock brushes off a bull note.
  • With earnings on the horizon, is PGR a buy?
  • Plus, LULU options volume surging after earnings; Disney+ updates are boosting the equity; and more on SRG's fall on the charts.

Midday Market Stats December 11

Following an earnings and revenue beat, Lululemon Athletica Inc (NASDAQ:LULU) is one stock seeing an incredible amount of options activity today. With the CFO saying the company's upcoming quarter would see more moderate online sales, the equity was last seen down 6.2% to trade at $345.89. So far today, 32,000 calls and 22,000 puts have already crossed the tape -- 10 times the intraday average and volume pacing in the 99th percentile of its annual range. Most popular by far is the weekly 12/11 340-strike put, followed by the December 350 put, with new positions being opened at both. Longer term, Lululemon stock has tacked on 97.6% in the last nine months.

Meanwhile, one stock surging on the New York Stock Exchange (NYSE) today is Walt Disney Co (NYSE:DIS), last seen up 10.2% at a new all-time high of $178.52, after the company announced a slew of new movies and shows for its thriving Disney+ streaming service, and an estimate subscriber growth of up to 260 million by 2024. Members are also going to see a $1 monthly price increase for the platform. DIS is now up 18.4% year-to-date.

At the other end of the NYSE, Seritage Growth Properties (NYSE:SRG) is down 12.7% to trade at $14.96, after the company's CEO Benjamin W. Schall announced he will be resigning in favor of another opportunity. SRG is now down 61.3% in 2020, with the equity poised to close below its 20-day moving average for the first time since Nov. 6.

SRG Chart December 11

 

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 C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI