Apple Helps Dow Hold Strong Gains
AAPL shares are at the top of the Dow
The Dow Jones Industrial Average (DJI) is in positive territory today, as the U.S. stock market holds onto its early gains thanks to the White House's dismissal of reports indicating it would cap capital flows to China. Apple (AAPL) remains the top Dow gainer at midday, in response to J.P. Morgan Securities' bullish iPhone forecast, with tech as a whole standing as one of the strongest sectors at last check. As such, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also boasting solid leads ahead of the start of the fourth quarter tomorrow.
Continue reading for more on today's market, including:
Bank stock slammed with another bear note. Why one analyst is bullish on Bed Bath & Beyond ahead of earnings.Plus, Bristol-Myers buyers come out; a huge earnings winner; and vaping fears spread to Canada.
One name seeing unusual options volume today is Bristol-Myers Squibb Co (NYSE:BMY), with call volume accelerated due to heavy trading at the June 2020 60-strike call. Roughly 12,000 contracts have traded here, about four times the next closest option, and data points to buy-to-open activity, suggesting these are bullish traders betting on BMY stock rising above $60 by next June. The shares were last seen up 1.4% at $50.91, pacing for their highest close since March, getting a boost from news that the company's Opdivo drug performed better than chemotherapy in a study of esophageal cancer patients.
Thor Industries, Inc. (NYSE:THO) is one of the top stocks today, last seen 20.3% higher at $58.87, thanks to the RV maker's better-than-expected fiscal fourth-quarter results. But despite these monster gains, the shares are still down 30% in the past year, and the $60 level could be acting as resistance again.
