Dow Decked by UnitedHealth Stock
Stocks are getting battered for a second straight day. The S&P 500 Index (SPX), Nasdaq Composite (IXIC), and Dow Jones Industrial Average (DJIA) are all sharply lower, with the blue-chip index pacing for its worst daily percentage decline since August. A big pullback from insurance giant UnitedHealth Group (UNH) following this morning's announcement from Amazon (AMZN), Berkshire Hathaway (BRK.A), and JPMorgan Chase (JPM) that they are creating a company to cut healthcare costs for U.S. employees is just one reason for the Dow's retreat, while investors continue to monitor rising Treasury yields, as well. The CBOE Volatility Index (VIX) is surging in response, earlier touching its highest point since Aug. 18.
Continue reading for more on today's market, including:
3 airline stocks jumping on bullish analyst attention. Founder and CEO Bernie Schaeffer examines the high-volatility natural gas ETF rally. Plus, the stock rising on Amazon healthcare buzz; WWE takes to the top turnbuckle; and Harley hits a speed bump.
One stock seeing unusual options activity today is Cerner Corporation (NASDAQ:CERN), with Trade-Alert noting buzz about a potential healthcare partnership with Amazon. The shares are up 1.5% today at $69.79, and options activity indicates traders see more upside ahead. Specifically, calls are crossing at a whopping 10 times the expected pace due to heavy buying at the February 75 call -- a level the stock hasn't traded north of since 2015.
Winning stocks are few and far between today, but World Wrestling Entertainment, Inc. (NYSE:WWE) is gaining on the New York Stock Exchange (NYSE), thanks to a bull note from Morgan Stanley. The shares were last seen trading up 1.8% at $34.89, and earlier hit a record high of $35. They've surged almost 78% over the past year.
One notable loser on the NYSE is Harley-Davidson Inc (NYSE:HOG), with shares of the motorcycle titan sliding 8.8% to trade at $50.45, after the company forecast a drop in shipments for the year. However, HOG shares are testing support near the 200-day moving average and the round $50 level.
