With the Fed's September meeting set to begin tomorrow, the SPDR S&P Bank ETF (KBE) is getting a lift, last seen up 1.6% at $42.57. As such, the shares are trading above two key technical levels located near $42.10. This price point sits near the exchange-traded fund's (ETF) 50-week moving average, as well as a 23.6% Fibonacci Retracement of its 2016 low to its 2017 high. And just below here is...Read More
The shares of credit agency Equifax Inc. (NYSE:EFX) are set for their sixth loss in seven sessions, and have lost nearly 35% so far in September, triggered by news of a massive data breach. Muddy Waters founder and noted short seller Carson Block is now suing Equifax, and U.S. prosecutors have reportedly opened a criminal probe into possible insider trading, after a handful of government bigwigs...Read More
Tobacco stocks were again in focus last week after the Food and Drug Administration (FDA) issued revised guidelines for tobacco manufacturers. Specifically, Altria Group Inc (NYSE:MO) and Philip Morris International Inc. (NYSE:PM) have both been seeing heavy put trading, as many options traders bet on short-term struggles for the shares. Near-Term Put Traders Pounce on MOStarting with Altria,...Read More
Options volume has been notably heavy in recent weeks on Chinese e-commerce stock Alibaba Group Holding Ltd (NYSE:BABA) and Snapchat parent Snap Inc (NYSE:SNAP), with call traders driving the action on both names. Here's a closer look at how options traders have been positioning themselves on BABA and SNAP. The 20 stocks listed in the table below have attracted the highest total options volume d...Read More
The Dow Jones Industrial Average (DJIA) is higher at midday, set to extend its winning streak to seven sessions, and already setting another intraday record. The Dow is on track for its fifth straight record close, fueled by a strong performance from Caterpillar. Bank stocks are also moving higher, as the market prepares for the Federal Open Market Committee (FOMC) two-day meeting, which kicks...Read More
Analysts are weighing in on technology concern Nvidia Corporation (NASDAQ:NVDA), construction equipment manufacturer Caterpillar Inc.(NYSE:CAT), and streaming entertainment company Netflix, Inc. (NASDAQ:NFLX). Here's a quick roundup of today's bullish brokerage notes on shares of NVDA, CAT, and NFLX. Bank of America Boosts NVDA OutlookBank of America-Merrill Lynch raised its NVDA price target to...Read More
Along with the broader stock market, semiconductors had a record-setting week last week -- with the VanEck Vectors Semiconductor ETF (SMH) carving out new all-time peaks. An analyst-induced surge for NVIDIA Corporation (NASDAQ:NVDA) helped spark the bullish bias, while a nearly 7% surge for Micron Technology, Inc. (NASDAQ:MU) only created more tailwinds for chip stocks. Options traders were quic...Read More
Analysts are weighing in on steelmaking coal and copper concern Teck Resources Ltd (USA) (NYSE:TECK), natural gas issue Chesapeake Energy Corporation (NYSE:CHK), and biotech stock Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA). Here's a quick roundup of today's bearish brokerage notes on shares of TECK, CHK, and TEVA.Teck Resources Shares Started at 'Sell'Teck Resources stock is up 1.2%...Read More
U.S. stocks are edging higher in pre-market trading this morning. Among specific stocks in focus today are search giant Alphabet Inc (NASDAQ:GOOGL), biotech Nabriva Therapeutics plc - Ordinary Shares (NASDAQ:NBRV), and defense stock Northrop Grumman Corporation (NYSE:NOC). Here's a closer look at what's moving shares of GOOGL, NBRV, and NOC. Google Makes Moves to Please European RegulatorsAlph...Read More
The Dow Jones Industrial Average (DJIA) is signaling a positive open this morning, and could enjoy a seventh straight gain, after wrapping up its best week of 2017. As concerns over North Korea ease, traders are gearing up for the Federal Open Market Committee (FOMC) two-day meeting, which kicks off tomorrow. The central bank is expected to keep interest rates the same this month, but market pa...Read More
"If the SPY moves above both the 247 and 248 strikes, not only is the chart resistance discussed above taken out, but the 250 strike becomes a potential magnet. In other words, a technical breakout on the SPY price chart during this expiration week would likely continue with a quick, sharp move to the $250 level, as both technical buyers step in and sellers of SPY 250-strike calls are forced to pa...Read More
The Dow Jones Industrial Average (DJIA) wrapped up its best week of 2017, extending its win streak to six days and notching a record close for a fourth straight session. Not to be outdone, the S&P 500 Index (SPX) and Nasdaq Composite (COMP) tagged record highs of their own, as a tech rally overshadowed lackluster economic data, and as traders seemed to take North Korea's latest missile strike wit...Read More
With the major stock market indexes hitting record highs, demand for "safe havens" like gold have dipped this week. However, one gold stock is flashing a "buy" signal that hasn't been wrong the last four times: Barrick Gold Corp (USA) (NYSE:ABX). Below, we'll discuss why ABX stock looks like a bargain right now.ABX stock has been in an upward channel since early July. The stock has pulled back sin...Read More
Hurricane Irma has come and gone, leaving a trail of destruction in its wake. While insurance and restaurant stocks were on Wall Street's radar last week, homebuilding stocks are now focus as the cleanup effort gets underway. While options bulls have blasted home improvement giant Home Depot of late, AV Homes Inc (NASDAQ:AVHI) is an under-the-radar Florida homebuilder that could be be puttin...Read More
Shares of Automatic Data Processing (NASDAQ:ADP) gapped higher in late July, on rumors Bill Ackman's Pershing Square Capital Management was buying a stake in the payrolls specialist. ADP stock went on to hit a record high of $121.77 on July 31. And while the security has since retreated alongside a significant drop in short interest, ADP options traders have been raising the bearish stakes.Since t...Read More
It was a banner week for U.S. stocks -- not to mention oil prices -- with the Dow Jones Industrial Average (DJIA) currently pacing for a sixth straight win and a fourth straight record close. In fact, the blue-chip index is set for its best week of 2017, while the S&P 500 Index (SPX) is aiming for its best week since April. Stock markets this week seemingly shrugged off escalating tensions with No...Read More
Open interest levels on Alphabet Inc (NASDAQ:GOOGL) have been trending higher throughout the year, alongside the FAANG stock's price. Currently, there are 143,461 calls and 143,209 puts open on GOOGL -- in the 97th annual percentile. What's more, now is an attractive time to buy short-term options on the Google parent, which will host a smartphone event in less than three weeks.Open interest level...Read More
U.S. stocks are trading higher this afternoon, with the Dow setting a new intraday record out of the gate. Among the names in the spotlight today are biopharmaceutical company Abeona Therapeutics Inc (NASDAQ:ABEO), cruise line Carnival Corp (NYSE:CCL), and semiconductor stock Advanced Micro Devices, Inc. (NASDAQ:AMD). Here's a quick look at what is moving shares of ABEO, CCL, and AMD.RBC Thin...Read More
The Dow Jones Industrial Average (DJIA) is higher at midday, after setting a fresh intraday record out of the gate this morning. The Dow is on track for its fourth straight record close, as well as its biggest weekly gain since December. The market is seemingly shrugging off subpar retail sales and North Korea's latest missile strike, as well as the first monthly decline in industrial output since...Read More
Shares of NVIDIA Corporation (NASDAQ:NVDA) are surging today, after Evercore ISI raised its price target to $250 from $180 -- the highest on Wall Street, and nearly 42% above current levels. The brokerage firm waxed optimistic on potential growth in the artificial intelligence (AI) market, saying, "We are only at the cusp of AI's growth potential and NVIDIA is creating THE AI computing industry st...Read More