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%.

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