Boeing Sends Dow to Triple-Digit Loss
The Dow Jones Industrial Average (DJI) opened up the session up triple digits as traders digested a slightly stronger-than-forecast inflation update and a third straight monthly drop in retail sales ahead of next week's March Fed meeting. The Dow has since swung to a more than 200-point loss at last check, though, as fears of a potential trade war with China -- following rumors the White House could impose steep tariffs on Beijing -- has blue-chip industrial stock Boeing (BA) spiraling. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have erased earlier gains, too, in what looks to be another down day for U.S. stocks.
Continue reading for more on today's market, including:
Analyst: This stock is like "Amazon in its early days."Options bears are winning big on this retail stock's post-earnings spiral.Plus, put sellers pounce on DKS; the agriculture stock that's tripled today; and Valeant's big win.
Among the list of stocks with unusual options volume today is Dick's Sporting Goods Inc (NYSE:DKS), with nearly 35,000 puts traded -- four times what's typically seen at this point in the day. By comparison, fewer than 8,500 calls are on the tape. After yesterday's volatile session had DKS stock successfully testing familiar support near $29, traders appear to be selling to open June 23 puts. At last check the retail shares were up 2.1% at $33.64.
Arcadia Biosciences Inc (NASDAQ:RKDA) is at the top of the Nasdaq today, after the maker of non-genetically modified wheat said it is in talks with companies to launch a healthier, consumer-friendly portfolio. After being halted several times for volatility, RKDA shares were last seen up 275.9% at $43.87, earlier hitting an annual high of $48.00.
Valeant Pharmaceuticals Intl Inc (NYSE:VRX) is one of the best stocks on the New York Stock Exchange today, after the drugmaker's plaque psoriasis treatment, Siliq, received regulatory approval in Canada. VRX stock has shot up 6.6% to trade at $17.17.