Sherwin-Williams stock is on the rise while Dow Inc stock hits 52-week lows
A Friday news dump of a Dow Jones Industrial Average (DJI) shakeup is still garnering plenty of attention today, especially as chip darling Nvidia (NVDA) gears up to replace sector peer Intel (INTC). We're taking a look at Sherwin-Williams Co (NYSE:SHW) and Dow Inc (NYSE:DOW), as the former will replace the chemical giant on the blue-chip index by the end of the week.
At last glance, SHW was up 4.8% at $375,17, moving closer to its Oct. 15 record high of $392.57. The $360 level appears to have moved in as support, after consolidating above this level through the second half of October. Since the start of the year, the paint giant is up roughly 20% -- outperforming the DJI's 11.3% year-to-date lead.
Options traders are targeting Sherwin-Williams stock this morning, with 1,670 calls and 629 puts exchanged so far -- double the average daily options volume. The December 400 call is the most popular, with new positions being sold to open there.
Unsurprisingly, Dow stock is slipping after the news, down 1.9% at $48.04 at last check and hitting a 52-week low of $47.51. DOW notched its third consecutive post-earnings drop on Oct. 24, and the equity is now headed for its ninth loss in the last 11 sessions. Since the start of 2024, DOW is off 12.3%.