Dow Pushes Higher as Oil, Bond Yields Climb

The Dow and S&P 500 both nabbed intraday record highs earlier

Managing Editor
Aug 10, 2021 at 12:26 PM
facebook twitter linkedin


The Dow Jones Industrial Average (DJI) is eyeing triple-digit gains midday, and nabbed a new intraday record high in the process. The S&P 500 (SPX) is marginally higher and scored a fresh record peak of its own, although the tech-heavy Nasdaq Composite (IXIC) is taking a breather. Bank stocks are leading the charge in accordance to the rising 10-Year Treasury yield, while energy stocks are enjoying a revival as oil prices snap back. At last check, September-dated crude futures were up 3% at $68.43 per barrel.

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

  • See why this meme stock is back in the spotlight. 
  • Casper Sleep stock is at risk for downgrades.
  • Plus, call traders cheer EV coverage; 3D Systems stock soars; and SPCE's takeoff delayed.

MMC Daily Stats Aug 10

One stock seeing a surge of options activity today is electric vehicle company Fisker Inc (NYSE:FSR). FSR is up 20.6% to trade at $18.06, after Morgan Stanley resumed coverage with an "overweight" rating. In response, 127,000 calls have changed hands, volume that's 16 times the average intraday amount and nearly four times the number of puts traded. Leading the charge is the weekly 8/13 20-strike call, and the standard series 20-strike, where new positions are being opened at each.

Near the top of the New York Stock Exchange (NYSE) today is 3D Systems Corporation (NYSE:DDD), last seen up 39% to trade at $39.47. This comes after the computer hardware company reported second-quarter earnings and revenue that topped analyst estimates. DDD is on track for its best single-session gain since Jan. 7, but despite a nice springboard off its 200-day moving average, $40 could prove elusive today.

MMC Stock Chart DDDOn the other end of the spectrum is Virgin Galactic Holding Inc (NYSE:SPCE), last seen down 9.4% to trade at $31.89. Although the specific catalyst isn't clear, SPCE is on track to snap a three-day win streak, and remains a ways off its Feb. 4 annual high of $62.80. 

Grab your FREE Eternal Contrarian report!


 




 
Special Offers from Schaeffer's Trading Partners