Dow on Track for Longest Losing Streak Since 1970's

The S&P 500 and Nasdaq are sitting in the red as well

Laura McCandless

Deputy Editor

Dec 17, 2024 at 12:01 PM

The Dow Jones Industrial Average (DJI) is down 210 points midday, headed for its ninth-straight daily loss. This would mark the blue-chip index's worst daily losing streak since since 1978, according to Dow Jones Market Data. The S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) are firmly lower as well, as investors digest this morning's retail sales data and look ahead to tomorrow's interest-rate decision.

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

Solar stock eyes best day in 2 years.
2 pharma stocks making moves today.
Plus, call traders eye TSLA record; QUBT soars on NASA contract; and MRVL slips from highs.

MMC Dec17

Tesla Inc (NASDAQ:TSLA) stock is hitting record highs after an upgrade from Mizuho to "outperform" from "neutral." Shares were last seen up 3.4% at $478.72, and earlier traded as high as $483.99. The electric vehicle (EV) giant is even more popular than usual amongst options bulls today, with 1.43 million calls exchanged so far -- double the call volume typically seen at this point. The December 500 call is the most popular by far, with new positions being opened.

TSLA Dec17

Quantum Computing Inc (NASDAQ:QUBT) is up 47% at $16.29 at last glance, after the company landed a contract with NASA to enhance its imaging reconstruction and data processing capabilities. Jumping to its highest levels since February 2021, QUBT is up 132% already this month.

Marvell Technology Inc (NASDAQ:MRVL) is one of the worst performing stocks on the Nasdaq today, down 8.2% at $114.54 at last check. The shares yesterday hit a record high of $126.15, enjoying a boost from the overarching artificial intelligence (AI) boom. Year to date, the equity is up 89.5%.

Getting Started With Options:
OPTIONS BASICS

Are you ready to start learning about options, and how to use them for faster profits? Our FREE GUIDE breaks down basic options trading concepts and vocabulary, how options derive their value, advantages and disadvantages, trading mechanics, and more!

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.