Stocks Move Lower, Still Look to Extend Weekly Win Streak

Gains for the year and month are also within reach

Digital Content Manager
Dec 29, 2023 at 11:57 AM
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Though the major indexes are lower midday, they are still on track for a ninth-straight weekly gain, which could mark the longest such win streak for the S&P 500 Index (SPX) since 2004, and 2019 for both the Nasdaq Composite (IXIC) and Dow Jones Industrial Average (DJI). All three are also looking to nab wins for the month and year, thanks in part to the Magnificent 7. Meanwhile, oil prices are on track for their first annual loss since 2020.

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

  • The best Big Tech stock of 2023.
  • Fisker stock pops on EV delivery surge.
  • Plus, BGC draws options bulls; TAL on the rise; and worst stock on the NYSE today.

MMC Stats 1229

Options bulls are targeting Bgc Group Inc (NASDAQ:BGC) today, with 10,000 calls exchanged so far -- 32 times the intraday average volume. Most popular is the January 2024 7-strike call. The financial services company earlier set its fourth-quarter target above analysts' expectations, sending shares 4.3% higher at $7.05 at last check. BGC also hit a five-year high of $7.23 earlier in the session, and now boasts a 89.4% year-to-date gain.

TAL Education Group(NYSE:TAL) is one of the best names on the New York Stock Exchange (NYSE) today, last seen up 8.3% at $12.80. The stock is not too far off from its Dec. 15, two-year high of $13.48, with long-time support stemming from the 40-day moving average. Shares also outperformed the broader market in 2023 with an 81.4% lead.

TAL 40 Day

Meanwhile, Sos Ltd - ADR(NYSE:SOS) stock is at the bottom on the NYSE, last seen down 12.8% at $5.12. The 20-day moving average is set to contain this negative price action, which follows the security's surge to its highest level since August. SOS is up 85.7% in 2023. 

 

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