The Dow gave up its more than 360-point gain
Stocks are struggling for direction in the first trading session of the year. The Dow Jones Industrial Average (DJI) gave up an over 360-point lead, now just below fair value, while the S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) sit modestly higher. With a fourth-straight daily loss now a possibility for the Dow, it seems unlikely a Santa Claus rally will appear.
Continue reading for more on today's market, including:
- Goldman Sachs: 2 stocks to target in January.
- Synaptics stock surges on Google partnership.
- Plus, call traders blast pharma stock; UEC rebounds; and TSLA slides on delivery report.
Options bulls are blasting pharmaceutical stock Precigen Inc (NASDAQ:PGEN) as it extends its recent rally off its mid-December record lows. So far, 15,000 calls have been exchanged -- 65 times the amount typically seen at this point -- in comparison to just 11 puts. The April 1-strike call accounts for most of the volume, with new positions being sold to open. At last glance, PGEN was up 4% at $1.16.
Uranium Energy Corp (NYSE:UEC) is one of the top performers on the New York Stock Exchange (NYSE) today. The stock is up 10.2% at $7.37 at last glance, as it rebounds from its 19.5% December drop -- the worst in the metals and mining sector. Climbing back toward its Dec. 6 roughly 18-year high of $8.93, the equity is up 16.7% year over year.
Tesla Inc (NASDAQ:TSLA) is sliding today, down 6.5% at $377.74 at last glance, after the
electric vehicle (EV) giant reported its first ever drop in annual deliveries. Tumbling even further from its Dec. 18 record high of $488.54, the equity is up 58.7% since last January.
