More Record Highs as Stocks Eye 4th Straight Weekly Win
Strong corporate earnings continue to drive stocks higher, with the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) both setting new record peaks. Dow component Intel (INTC) is surging after its earnings release, while upbeat drug news has fellow blue chip Pfizer (PFE) posting fresh highs, too, as they lead a broad rally in the tech and healthcare spaces.
Elsewhere, investors are reacting to this morning's fourth-quarter GDP, on top of headlines from the gathering of economic leaders in Davos. In his speech there this morning, President Donald Trump talked up the rise in U.S. stock markets, and said the country is open to "fair" trade deals. Against this backdrop, all three major benchmarks are pacing for their fourth straight weekly wins.
Continue reading for more on today's market, including:
The transports signal flashing for the second time in 12 years. The groundbreaking news boosting JD.com stock. Plus, Twitter calls active; a huge healthcare winner; and an unusual drop from an auto parts supplier.
One stock seeing unusual options activity today is Twitter Inc (NYSE:TWTR), as the social media stock gains 6.8% to trade at $23.66 -- on pace to snap an eight-day losing streak. Spread activity looks likely at the February 25 and 27 calls, and if this is the work of a bullish trader, the goal is for TWTR shares to rise to $27 in less than a month. The security touched a 52-week high of $25.85 back on Jan. 12.
One of the best Nasdaq stocks today is diagnostics specialist Abaxis Inc (NASDAQ:ABAX), following the company's impressive earnings release last night. The shares were last seen trading at $74.20 -- up 15.1% today, and earlier hitting a record high of $76.19. In the past month alone ABAX stock is up over 51%.
One notable downside move on the New York Stock Exchange is coming from LCI Industries (NYSE:LCII), a company that supplies parts for the red-hot RV market. The shares are trading down 6.5% at $116.75, on no apparent news. LCII stock has been a solid outperformer in recent months, touching a record high of $132.73 back in late December.
