Dow, S&P 500 Nab Intraday Highs as Bond Yields Rise

The blue-chip index is also eyeing a fresh record close

Digital Content Manager
Jan 4, 2022 at 11:50 AM
facebook twitter linkedin


The Dow Jones Industrial Average (DJI) is up 242 points midday, pacing for another record close after earlier setting a fresh intraday high, thanks to a resurgent financial sector. The S&P 500 Index (SPX) also hit an intraday record this morning, but has since joined the tech-heavy Nasdaq Composite (IXIC) in the red. Reopening stocks, including energy and travel names, are on the rise as investors continue to brush off Covid-19 fears in the face of the omicron variant, sending bond yields higher for the second-straight session.

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

  • Why options bulls are blasting Coca-Cola stock.
  • Apple stock is the first to exceed $3 trillion market cap.
  • Plus, TSM sees big options surge; Alzheimer's drug data lifts HOTH; and Avrobio scraps Fabry disease program.

MMC Stats 0104

Taiwan Semiconductor Mfg. Co. Ltd.(NYSE:TSM) is getting blasted in the options pits today. So far, 108,000 calls and 36,000 puts have crossed the tape, volume that's seven times the intraday average. Most popular is the weekly 1/7 135-strike call, where new positions are being opened, followed by the January 150 call. The stock was last seen up 2.4% at $131.89, and is now eyeing its highest close in just under one year while sporting a 22.4% year-over-year lead. 

Hoth Therapeutics Inc (NASDAQ:HOTH) is one of the best stocks on the Nasdaq today, up 107% to trade at $1.45 at last check. This comes after the company released upbeat pre-clinical trial data for its Alzheimer's disease drug HT-ALZ. The stock is now trading at its highest level since June, blowing past long-term pressure at its 60-day moving average after hitting an all-time low of 63 cents on Dec. 29.

HOTH 60 Day

Meanwhile, Avrobio Inc (NASDAQ:AVRO) is among the Nasdaq's worst performers. The stock was last seen down 34% at $2.67, after the gene therapy company said it would scrap its Fabry disease program following disappointing mid-stage clinical trial data, as well as market and regulatory pressures. AVRO earlier hit an all-time low of $2.53, but has been on a steady downtrend since March. 

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners