Benchmarks Nab Record Highs, Eye Five Straight

Tesla, Google-parent Alphabet, and Microsoft will report earnings this week

Deputy Editor
Jul 26, 2021 at 12:17 PM
facebook X logo linkedin

Stocks are inching higher midday, as investors gear up for a busy week of Big Tech earnings. The Dow Jones Industrial Average (DJI)S&P 500 Index (SPX), and Nasdaq Composite (IXIC) have all scored intraday record highs today and are on track for five-straight wins.

The tech-heavy latter is especially in focus, ahead of corporate reports later this week from the likes of Tesla (TSLA), Alphabet (GOOGL), and Microsoft (MSFT). In addition, Wall Street is bracing for the Federal Reserve's two-day policy meeting slated to begin tomorrow, as well as Thursday's second-quarter gross domestic product (GDP) data.

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

  • Keep an eye on these six cannabis stocks in the summer heat.
  • Hasbro stock is at new heights today.
  • Plus, COIN calls pop on crypto buzz; Studio City stock soars once more; and one therapeutics stock brushing off a bull note.

Midday Market Stats July 26

One stock getting getting attention from options traders today is Coinbase Global Inc (NASDAQ:COIN), last seen up 8.6% at $244.32, after Bitcoin (BTC) hit its highest level in five weeks. So far today, 46,000 calls have crossed the tape, which is triple the intraday amount and nearly four times the amount of puts exchanged. Most popular is the weekly 7/30 250-strike call, followed by the 245- and 255-strike calls from the same series, with new positions currently being opened at all three. Today's rise has Coinbase stock reclaiming its previously-resistant 10-day moving average.

COIN Chart July 26

The best stock on the New York Stock Exchange (NYSE) by far today is Studio City International Holdings Ltd (NYSE:MSC), up 38.7% at $12.75 at last check. Today marks MSC's fourth consecutive day of halted trading, ahead of the company's second-quarter earnings call tomorrow, July 26. Following a dip to a July 20, all-time low of $8.53, Studio City stock soared to $24.41 -- its highest level since Jan. 4. Still, the security is down 14.6% year-over-year.

Meanwhile, Denali Therapeutics Inc (NASDAQ:DNLI) is towards the bottom of the Nasdaq, last seen down 16.7% at $53.20. While the catalyst for today's negative price action is unclear, DNLI is brushing off a bull note from H.C. Wainwright, who raised their price target on the equity to $105 from $95. The security earlier traded as low as $47.02, its lowest level since November 2020. On track for its biggest single-day percentage dip ever, Denali Therapeutics stock is now down 38.6% in 2021.

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