Dow Looks to Extend Win Streak; Nasdaq Eyes Weekly Loss

There is a rebalance of the Nasdaq-100 coming up Monday

Digital Content Manager
Jul 21, 2023 at 11:47 AM
facebook X logo linkedin

Stocks are higher this afternoon, with the Dow Jones Industrial Average (DJI) on track to keep its longest win streak since 2017 running. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also sitting in the black, though the latter is the only one of the three not pacing for a weekly win. It's worth noting markets could still face some volatility ahead of options expiration later today, as well as the Nasdaq-100's (NDX) rebalancing on Monday.

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

  • Unpacking these 2 logistics names' quarterly results.
  • How General Electric stock is faring before earnings.
  • Plus, SIRI blasted in the options pits; MATX surges on prelim results; and MTR pivots lower on income distribution.

MMC Stats 0721

Sirius XM Holdings Inc (NASDAQ:SIRI) is seeing unusual options activity today, with 62,000 calls and 42,000 puts traded so far, or seven times the intraday moving average. Most popular is the August 5 put, followed by the 7 call in that weekly series. The equity is down 14.3% to trade at $6.70 at last check, despite yesterday hitting its highest level in over 18 years. Analysts chimed in with four downgrades earlier, with Deutsche Bank, Pivotal Research, and Seaport Research all adjusting their ratings to "sell." SIRI is still up 15.8% this year.
Matson Inc (NYSE:MATX) is near the top of the New York Stock Exchange (NYSE) today, up 14.1% at $93.68 at last check, after the shipping name's preliminary second-quarter results came in above estimates. In response, Stifel raised its price target to $86 from $70. The shares earlier surged to a one-year high of $93.84, with support from their 20-day moving average. Year-to-date, MATX is up 50%.


MATX 20 Day

One of the worst stocks on the NYSE, meanwhile, is Mesa Royalty Trust (NYSE:MTR). The equity is down 8.7% at $21.10 at last glance, after the company yesterday announced the July Trust income distribution. MTR is trading at its lowest level since May, despite its 89% year-over-year lead.

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