Stocks are lower this afternoon, extending this morning's retreat from record levels, as investors continue to weigh equity valuations, stimulus anticipation, and the aftermath of last week's pro-Trump attack in Washington, D.C. The Dow Jones Industrial Average (DJI) is roughly 75 points lower at midday. Meanwhile, the S&P 500 Index (SPX) and tech-heavy Nasdaq Composite (IXIC) are swimming in red ink, as well. Elsewhere, investors are carefully watching Congress after House Speaker Nancy Pelosi said Democrats would move toward impeaching President Donald Trump again if Vice President Mike Pence fails to invoke the 25th Amendment. 

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

• A J.P. Morgan bull note catapults Tesla rival to record highs.
• Marriott stock in focus after company cuts off several political donations.
• Plus, TWTR options under pressure after Trump ban; retail stock surges on prelim earnings; and InVitae stock plummets on dismal 2021 guidance.

One stock seeing notable options activity today is Twitter Inc (NYSE:TWTR), last seen down 6.6% to trade at $48.12, despite earning a price-target hike from Jefferies to $52 from $46. The social media giant lost nearly $5 billion in market value after permanently suspending President Donald Trump's account following last week's attack on the U.S. Capitol, spurring concerns among investors over the regulation of social networks. So far today, 185,000 calls and 183,000 puts have crossed the tape, which is six times the intraday average. Most popular is the January 2021 50-strike call, followed by the 45-strike put in the same monthly series, with positions being opened at the latter. The security just hit a Dec. 16 six-year high of $56.11, but is now testing support at the 100-day moving average. Year-over-year, TWTR is still up 46.5%.

Near the top of the New York Stock Exchange (NYSE) today is Boot Barn Holdings Inc (NYSE:BOOT), last seen up 12.1% at $54.50, after earlier hitting an all-time-high of $55.64. The major bull gap came after the apparel retailer reported better-than-expected preliminary third-quarter earnings, and a 6% guidance update. As a result, the security earned an upgrade from J.P. Morgan Securities to "overweight" from "neutral," and no fewer than four other analyst lifted their price targets. Boot Barn stock has been getting support from the 40-day moving average since August, and sports a  254.3% nine-month lead. 

Near the bottom of the NYSE today is InVitae Corp (NYSE: NVTA), last seen down 10.1% to trade at $45.99. While the firm posted a preliminary fourth-quarter revenue growth of over $278 million, its 2021 guidance missed Wall Street's estimates, likely due to COVID-19 impacts and assumptions surrounding the ArcherDx acquisition. The equity has been cooling off from a Dec. 14 all-time-high of $61.59, and this past month has been quite choppy, though the 120-day moving average has contained most of this volatile price action. Year-over-year, however, NVTA remains up 175.2%.

The Dow spent most of its Monday session in retreat, finishing the day with a nearly 90-point drop, as traders kept their attention trained on last week's election turmoil and the ever-present promise of more Covid-19 stimulus relief. News that House Speaker Nancy Pelosi has called for the impeachment of President Donald Trump also rippled through Wall Street today. Meanwhile, the S&P 500 and Nasdaq Composite were also nursing sizable losses during today's trading, ending the session deep in the red, as investors begin bracing themselves for a possible market correction, following last week's slew of record highs.  

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

• One homebuilding stock option traders are optimistic on. 
• Why Wayfair stock's recent pullback could be an attractive buy for bulls. 
• Plus, checking in with BlackRock stock before earnings; the TSLA rival that just hit a fresh high; and Amazon bans big app after last week's Capitol attack. 

The Dow Jones Industrial Average (DJI - 31,008.69) dropped 89.3 points, or 0.3% on Monday. Twelve of the Dow components finished higher, with Walgreens-Boots Alliance (WBA) taking the lead with a 5.5% surge, while Apple (AAPL), fell to the bottom of the 18 losers, down 2.3% for the day. 

Meanwhile, the S&P 500 Index (SPX - 3,799.6) was down 25.1 points or 0.7%, and the Nasdaq Composite (IXIC - 13,036.43) shed 165.5 points, or 1.3%.

Lastly, the Cboe Volatility Index (VIX - 24.08) added 2.5 points, or 11.7%.

1. Data from the National Women's Law Center (NWLC) is suggesting that all 140,000 jobs lost in December belonged to women. This is a stark contrast from one year ago, when the number of women in the U.S. workforce edged higher than the number of men for the first time since 2010.  (CNBC)
2. A new forecast from the Consumer Technology Association shows that U.S. consumer electronics retail sales are expected to grow 4.3%  in 2021 to $461 billion. The Consumer Technology Association is the sponsor of this week's annual CES trade show, which will be held virtually this year. (MarketWatch) 
3. How the world's largest asset manager is performing ahead of earnings. 
4. The Tesla rival that hit fresh highs on analyst love today. 
5. Amazon took a breather after banning Parler. 

There were no earnings of note today.

Oil Closes Flat, Gold Brushes Off Strengthening Dollar

The strengthening U.S. dollar sent oil prices toward uncertainty from last week's highs, while growing concerns over the negative effects of the coronavirus on both the commodity and the economy in general also put a damper on liquid gold. February-dated crude scraped together 1 cent, or 0.02%, to settle at $52.25 per barrel. 

Gold meanwhile, clawed its way higher. A dramatic drop in Bitcoin prices, plus talks of a market correction likely put some wind at the commodity's back, though the dollar's modest rebound put a cap on some of today's gains. February-dated gold tacked on $15.40, 0.8%, to settle at $1,835.40 an ounce.

Stocks are struggling for direction this afternoon, as investors reacted to interest rates moving higher. Specifically, the benchmark 10-year note yield rose to its highest level since March, adding 1.2%, while the 30-year bond rate rose nearly 1.9%. Meanwhile, Wall Street is still hanging on to the possibility of further economic relief coming from a Democrat-controlled Congress and White House. And while this is keeping some of these losses in check, investors are concerned equity market valuations may have gone too far. In response, the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are trading just below the breakeven, while the Nasdaq Composite (IXIC) has also plunged into the red, reversing this morning's modest gains. 

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

• Major bank stock rises after cutting business ties with Trump.
• Secondary stock offering sends ZM higher.
• Plus, options bulls blast Ford stock; drilling stock rises after Citigroup bull note; and Postal Realty Trust stock falls on underwritten public offering.

One stock seeing notable options activity today is Ford Motor Company (NYSE:F), last seen up 4.3% to trade at $9.69, after the automaker said it would close its manufacturing operations in Brazil, and take pre-tax charges of about $4.1 billion. The news elicited a price-target hike from J.P. Morgan Securities to $11 from $10. Today's options activity shows that 349,000 calls and 63,000 puts have crossed the tape so far, which is five times the intraday average. Most popular by far is the January 2021 10-strike call, followed by the February 10 call. The security is pacing for its highest close since July 2019, toppling a recent ceiling at the $9.50 mark. In the last nine months, F has added roughly 83%.

Near the top of the New York Stock Exchange (NYSE) today is offshore drilling contractor Transocean LTD (NYSE:RIG), up 14.6% at $3.18 at last check. The bull gap came after the stock received a price-target hike from Citigroup to $3 from $1.30. Shares have struggled on the charts over the past year, dropping to an Oct. 30, all-time-low of 65 cents, after two failed rally attempts in June and August. However, the equity is now getting support from the 30-day moving average, and has tacked on 298.8% in the last three months. 

Near the bottom of the NYSE today is Postal Realty Trust Inc (NYSE:PSTL), last seen down 4.5% to trade at $15.40, after pricing its upsized follow-on underwritten public offering of 3.25 million shares of its Class A common stock at $15.25 per share. The security has been trading sideways on the charts for much of the past year, after falling to a March 23 all-time-low of $10.84. Shares are now struggling with overhead pressure at the $17 mark, and longer term Postal Realty Trust stock carries a 7.1% year-over-year deficit.

The Dow ended the day with a modest 60-point pop, climbing into the black thanks to bank stocks, after a day spent waffling at breakeven. The S&P 500 and Nasdaq Composite also wound up staging mini rebounds near the end of today's session, as optimism over a potential post-coronavirus economic recovery overshadowed rising interest rates. Elsewhere, valuation concerns are still weighing heavy on investors' minds, and many big tech names -- including Facebook (FB) and Alphabet (GOOGL) --took a breather, with Wall Street approaching the fast-growing sector with newly found caution. 

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

• Banking giant nabbed fresh three-year highs ahead of its fourth-quarter earnings. 
• Twitter isn't done cracking down on some users' accounts just yet.  
• Plus, DAR poised for more record highs; the energy stock hitting rock bottom; and a primer in commodity options. 

The Dow Jones Industrial Average (DJI - 31,068.69) added 60 points, or 0.2% on Tuesday. Sixteen of the index members settled higher, with Dow (DOW) rising to the top with a 3.7% gain, while Merck & Co (MRK) paced the 14 losers with a 2.2% drop. 

Meanwhile, the S&P 500 Index (SPX - 3,801.19) was up 1.6 point or 0.04%, and the Nasdaq Composite (IXIC - 13,072.43) tacked on 36 points, or 0.3%.

Lastly, the Cboe Volatility Index (VIX - 23.33) lost 0.8 point, or 3.1%.

1. The Center for Disease and Prevention (CDC) just extended its Covid-19 vaccination guidelines to extend eligibility to anyone 65 and older. Those with comorbid conditions, like diabetes, will also be eligible for the vaccine. (CNBC)
2. Disney (DIS) said its Walt Disney World theme park would be getting rid of its "Magical Express" service -- a free shuttle bus that charted guests to and from Orlando International Airport -- starting in 2022. The park will also eliminate its "Extra Magic Hours" feature, which allowed Disney hotel guests to enter the park earlier than other visitors. (MarketWatch) 
3. Surging food stock could be headed toward even more record highs.  
4. Has this energy stock hit rock bottom?
5. Why traders might want to consider trading commodity options. 

There were no earnings of note today.

Oil Touches Pre-Pandemic Levels, Gold Flounders 

Oil settled at its highest level since late-February, strengthening on the back of a weakening U.S. dollar, and last week's production cuts by Saudi Arabia. February-dated crude added 96 cents, or 1.8%, to settle at $53.21 per barrel, marking its sixth-straight daily gain. 

Gold gave back its earlier gains to end with a marginal loss. February-dated gold shed, $6.60 or 0.4%, to settle at $1,844.20 an ounce, dropping as investors hopes over additional stimulus took attention away from the precious metal. Meanwhile, some are looking at the $1,800 mark as a key level to watch, predicting a bearish trend, should the commodity breach this level. 

Stocks are trading on both sides of the aisle this afternoon, as investors digest yet another spike in Covid-19 cases, higher interest rates, and political tension. Also in focus is the latest round of inflation data, which was in line with Wall Street's expectations. As a result, the Dow Jones Industrial Average (DJI) was last seen trading just below breakeven, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are both trading modestly higher. 

Elsewhere, Vice President Mike Pence said he would not invoke the 25th Amendment to remove President Donald Trump from office, and the House of Representatives will vote to impeach the president once more later today. Meanwhile, Johns Hopkins University data showed the U.S. is registering more than 240,000 coronavirus infections a day.

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

• American Tower stock slips following billion-dollar deal.
• GOOGL rises after suspending Trump's YouTube channel.
• Plus, Intel appoints new CEO; videogame stock surges on investor deal; and Party City stock plummets on downbeat sales forecast.

One stock seeing notable options activity today is Intel Corporation (NASDAQ: INTC), last seen up 7.9% to trade at $57.45, after the tech concern appointed VMware's (VMW) Pat Gelsinger as its new CEO. In response, the security earned a price-target hike from Evercore to $68 from $55. So far, 343,000 calls 141,000 puts have already crossed the tape, which is four times the intraday average. Most popular by far  is the January 2021 60-strike call, followed by the 65-strike call in the same series, with positions being opened at the latter. The security has had a rough run on the charts since its late-July bear gap, but today's pop helped it break through overhead pressure at the 200-day moving average, which has rejected several rally attempts since October. Year-over-year, INTC is down 3.3%.

Near the top of the New York Stock Exchange (NYSE) today is videogame concern  GameStop Corp. (NYSE:GME), up 70.8% at $34.08 at last check, after hitting a five-year high of $38.65. The impressive bull gap came after the company signed a deal with investor Ryan Cohen's RC Ventures LLC, and appointed the Chewy.com (CHWY) co-founder as well as other two e-commerce experts to its board. The security started picking up steam in late August -- with support from the 40-day moving average -- after dropping to an April 3, all-time-low of $2.57. Year-over-year, GME is up an astounding 587.7%.  

Near the bottom of the NYSE today is Party City Holdco Inc (NYSE:PRTY), last seen down 11.2% to trade at $7.17, after the company posted a dismal fourth-quarter sales forecast due to the rapid surge of COVID-19 cases. Shares had been steadily climbing up the charts since November to hit a Jan. 8, two-year high of $8.40, with support from the 20-day moving average. In the last nine months alone, PRTY added over 1,619%.

Stocks have pulled back slightly this afternoon. The Dow Jones Industrial Average (DJI) was last seen down roughly 40 points, while the S&P 500 Index (SPX) is struggling for direction. The Nasdaq Composite (IXIC), meanwhile, still boasts modest gains as investors anticipate promising earnings from several Big Tech names, including Facebook (FB), Microsoft (MSFT) and Apple (AAPL). All three major indexes also touched brand new highs earlier today, as hopes of a faster vaccine rollout and further stimulus under President Joe Biden -- who is already setting his rescue plan in motion through a number of executive orders -- boosted sentiment. 

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

• The analyst betting on PayPal's growing Bitcoin initiative. 
• Fastly stock surges after Oppenheimer turns positive on product launch.
• Plus, options bulls circle LLNW after CEO appointment; energy stock surges on $2 billion offering; and AA stock plummets on disappointing Q1 guidance.

One stock seeing notable options activity today is Limelight Networks, Inc. (NASDAQ:LLNW), last seen up 1.2% to trade at $4.38, after the content delivery name appointed growth executive Bob Lyons from Alert Logic as its new president and CEO, effective Feb.1. And while the stock received a price-target cut from D.A. Davidson to $4.50 from $5 in response, the bear note has done little to deter options bulls. So far, 21,000 calls have crossed the tape, which is 19 times the intraday average. Most popular is the monthly March 4.50 call, followed by the February 5 call, with new positions being opened at both. The security has had a volatile run on the charts over the past 12 months, falling to an Oct. 30 one-year low of $3.43 after surging to a July 2, nine-year high of $8.19. As a result, LLNW carries a 16.3% year-over-year deficit. 

Near the top of the New York Stock Exchange (NYSE) today is NGL Energy Partners LP (NYSE:NGL), up 35.5% at $3.53 at last check, after the security announced an offering of over $2 billion in senior secured notes. The equity has been struggling to make a comeback since dropping to a March 18, all-time low of $1.15, chopping lower from an early June rally to the $7 mark. Now, the security is testing its recently resistant 100-day moving average, however, and quarter-to-date NGL has added 56.3%.

Near the bottom of the NYSE today is Alcoa Corp (NYSE:AA), last seen down 9.5% to trade at $20.68, after aluminum name reported better-than-expected fourth-quarter earnings, but weaker first-quarter guidance that missed Wall Street's expectations. The stock has been cooling off since quadrupling off its March all-time-lows near the $5 mark to hit a Jan. 7, annual high of $26.20. What's more, this drop has the equity slipping below the formerly supportive 40-day moving average. In the last nine months, however, AA has tacked on 187.1%. 

Stocks ended Thursday's lukewarm trading session on a fairly high note. Though the Dow dipped 12 points to finish the day, it scored a new intraday high. Meanwhile, the Nasdaq traded steadily in the black for the majority of the day to finish with a record close, as investors geared up for a highly anticipated round of earnings from Big Tech next week. The S&P 500 wavered at breakeven for most of the day before finishing out with a fresh closing high as well, while Wall Street pored over President Joe Biden's Covid-19 rescue plan, which includes accelerated vaccine rollout and ramped up production of protective equipment. Also contributing to the upbeat sentiment was better-than-expected jobless data.

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

• The red-hot payment stock ripe for a fresh round of bull notes.  
• UAL's options pits popped off after a disastrous earnings report. 
• Plus, SEDG hit with glowing analyst note; how to play Dropbox stock with options; and checking in with MSFT before earnings. 

The Dow Jones Industrial Average (DJI - 31,176.01) fell 12.4 points, or 0.04% for the day. Intel (INTC) led the gainers with a 6.5% pop, while Chevron (CVX) fell to the bottom of the barrel with a 3.4% dip. 

Meanwhile, the S&P 500 Index (SPX - 3,853.07) settled 1.2 points, or 0.03% higher, and the Nasdaq Composite (IXIC - 13,530.91) rose 73.7 points, or nearly 0.6% for the day.

Lastly, the Cboe Volatility Index (VIX - 21.32) lost 0.3 point, or 1.2% for the day. 

1. Former-President Donald Trump has yet to assemble a team of lawyers to defend him at his second impeachment trial, despite the possibility of it starting next week. (CNBC)
2. A report published by the JPMorgan Chase Institute showed a 10% rise in stock prices correlated with a rise in average spending of just below 1%. (MarketWatch) 
3. One big name in solar energy got bullish analyst attention today.
4. How to play DropBox stock's recent pullback with options. 
5. A look at Microsoft stock ahead of its highly anticipated earnings report. 

Gold Softens in Light of Upbeat Economic Data

Gold gave back some of yesterday's gains, cooling off from a two-week high as a decline in unemployment claims and a rise in new-home construction data helped strengthen the U.S. dollar. This, in turn, put a damper on the precious metal, though some in Wall Street are contending that a pullback has been on the horizon. February-dated gold dropped 60 cents, or fewer than 0.1%, to finish at $1,865.90 per ounce.

Oil prices pulled back on Thursday as well, as investors eyed tomorrow's Energy Information Administration (EIA) data, which is expected to show a decline of 2.5 million barrels in U.S. crude supply. March-dated crude dropped 18 cents, or 0.3% for the day, to settle at $53.13 per barrel.

Stocks are pulling back from record levels on Friday afternoon, as investors became less optimistic about President Joe Biden's coronavirus rescue plan, which is drawing criticism from both sides of the aisle in Congress. The Dow Jones Industrial Average (DJI) was last seen down 135 points, led lower by outsized post-earnings losses from IBM (IBM) and Intel (INTC). Meanwhile, both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are registering substantial losses as well. Nonetheless, all three major benchmarks remain on track for weekly wins.

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

• How Wall Street is reacting to IBM's revenue miss. 
• Another blue-chip stock swimming in red ink, despite analyst praise.
• Plus, options bears circle STX after Q2 report; Chinese stock surges closer to IPO price; and GSL tumbles after stock offering.

One stock seeing notable options activity today is Seagate Technology PLC (NASDAQ:STX), last seen down 6.9% to trade at $58.57, despite the company reporting better-than-expected fiscal second-quarter earnings results. What is hurting the stock is a decline in gross margins, which dipped to 26.8% from 28.7% the previous year. So far, 13,000 puts and over 11,000 calls have already crossed the tape, which is five times the intraday average. Most popular by far is the 1/22 60-strike put, followed by the 58-strike put in the same weekly series, with new positions currently being opened at the latter. Buyers of these options expect to see more downside for Seagate Technology stock by the end of the day, when contracts expire. The equity is cooling off from a Dec. 17, six-year high of $66.69, though the 60-day moving average seems have come in as a floor. In the last six months, STX is up 22%.

Near the top of the New York Stock Exchange (NYSE) today is iHuman Inc (NYSE:IH), up 8.2% at $22.60 at last check, though a reason for the positive price action was not immediately clear. The China-based educational software company began trading publically in early October, with an initial public offering (IPO) price of $12 per share. Shares had been cooling off from a Nov. 24 all-time high of $31.58 over the last few weeks, but today's pop helped the equity break through overhead pressure at the newly emerged 60-day moving average. Year-to-date, IH sports a 25.2% lead. 

Near the bottom of the NYSE today is Global Ship Lease Inc (NYSE:GSL), last seen down 12.4% to trade at $13.05. The bear gap came after the company sold 5.4 million shares of its common stock at $13 per share -- a 12.8% discount to last night's close -- raising $70.2 million to fund the expansion of its containership fleet. The security has been climbing up the charts since its March 19 all-time low of $2.66, culminating in a Jan 15, four-year high of $17.69. Meanwhile, the stock's ascending 30-day moving average seems poised to contain today's pullback, and GSL has added 213.8% in the last nine months alone.  

It was a fairly unimpressive day for stocks, with the Dow settling 179 points lower, while the S&P 500 also settled in the red. Meanwhile, the Nasdaq Composite eked out modest gains thanks to a handful of Big Tech names, scoring its third-straight record close, after spending most of the day struggling for direction. Despite the lukewarm trading session -- sparked by disappointing blue-chip earnings and waning optimism over President Joe Biden's Covid-19 relief plan -- all three indexes grabbed weekly gains.

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

• Six red-hot pot stocks investors shouldn't sleep on.  
• The SPX ratio to keep an eye on heading into next month. 
• Plus, Ford gets a bull note; SLB brushed off an earnings beat; and 3M stock gears up for quarterly report. 

The Dow Jones Industrial Average (DJI - 30,996.98) fell 179 points, or 0.6% for the day, and added 0.6% for the week. Home Depot (HD) led the gainers with a 1.8% pop, while IBM (IBM) fell to the bottom of the barrel with a 9.9% dip. 

Meanwhile, the S&P 500 Index (SPX - 3,841.47) settled 11.6 points, or 0.3% lower for the day, but tacked on a roughly 2% weekly win, while the Nasdaq Composite (IXIC - 13,543.06) rose 12.2 points, or nearly 0.09% for the day, and 4.2% for the week.

Lastly, the Cboe Volatility Index (VIX - 21.91) added 0.6 point, or 2.8% for the day. For the week, the index dropped nearly 10%. 

1. The Center for Disease Control and Prevention (CDC) just approved mixing the Pfizer (PFE) and Moderna (MRNA) vaccines in "exceptional situations." (CNBC)
2. The release of the newest James Bond movie, "No Time to Die," has been pushed back for a third time due to the pandemic, and will now air on Oct. 8. (MarketWatch) 
3. Ford's latest product launch is on one analyst's radar. 
4. Schlumberger Stock pulled back, despite an earnings beat.
5. Another blue-chip name slated to report report earnings next week. 

Oil Prices Log Daily, Weekly Losses

Gold continued to tumble today, ending lower as the U.S. dollar regained strength. The yellow metal enjoyed its biggest weekly win since December, however. February-dated gold trimmed $9.70, or 0.5%, to finish at $1,865.20 per ounce, but added 1.4% for the week.

A higher-than-expected rise in U.S. crude inventories, paired with surging coronavirus cases in China, gave oil a run for its money on Friday, pushing the commodity toward daily and weekly losses. March-dated crude dropped 86 cents, or 1.6% for the day, to settle at $52.27 per barrel, and fell 0.2% for the week.