Dow Resumes Selloff, Set to Snap Win Streak

The tech sector continues to churn, while oil prices snap back

Managing Editor
Jan 9, 2024 at 11:51 AM
facebook X logo linkedin


Stocks have resumed their trek lower in what is become an alarming trend to start 2024. The Dow Jones Industrial Average (DJI) is off triple digits this afternoon, on track to snap a three-day win streak, and off by as much as 300 points at session lows. The S&P 500 Index (SPX) and Nasdaq Composite are also in negative territory, as the tech sector continues to show cracks. Elsewhere, oil prices are back on the rise today, with February-dated crude futures last seen up 1.1% to trade at $71.57 per barrel. 

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

MMC Stats Jan 9

Albemarle Corp (NYSE:ALB) is the target of put traders today. At last check, 5,896 puts have swapped hands, volume that is double the average intraday amount and pacing for the 93rd percentile of its annual range. The weekly 2/23 100-strike put is the most active, with sell to open activity detected. The lithium battery concern is down 2.1% to trade at $133.78, after Evercore slashed its price target to $190 from $280. ALB shed more than 40% in the last 12 months, with December's rally stopping short of its 100-day moving average.

MMC Stock Chart ALB

Juniper Networks Inc (NYSE:JNPR) stock is propping the New York Stock Exchange (NYSE) higher today, last seen up 21.5% at $36.73, fallowing reports Hewlett Packard Enterprise (HPE) is in talks to buy the company for $13 billion. The Wall Street Journal reports HPE is enamored with Juniper's artificial intelligence (AI) offerings. JNPR is trading at its highest level since April 2022 and on track for its best single-session percentage gain since January 2004, while HPE is off 7.3% at $16.43.

Cardinal Health Inc (NYSE:CAH) is in the NYSE cellar, off 4% to trade at $100.92. The drug distributor expects its second-quarter medical segment profit to be only on par with the first quarter. Despite today's breather, CAH is up 30.4% year-over-year and not far off its Dec. 13 all-time high of $108.83. 

 

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 C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI