Dow Extends Losses as Countries Ground Boeing 737 MAX 8
The S&P and Nasdaq, meanwhile, are higher
Newly downgraded Boeing (BA) stock continues to weigh down the Dow Jones Industrial Average (DJI) this afternoon, as the U.K., China, France, and many other countries ground the 737 MAX 8 aircraft on safety concerns. On the flip side, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are pushing higher on the back of relatively tame inflation data and a positive performance out of the energy sector. Elsewhere, traders are keeping an eye on London, ahead of a U.K. parliament vote on a revised Brexit deal.
Continue reading for more on today's market, including:
Penny stock scraping the bottom of the Nasdaq.Founder and CEO Bernie Schaeffer calls out the technical roadblocks ahead for this bank ETF. Plus, Stitch Fix stock's post-earnings surge; and 2 stocks posted at the top and bottom of the NYSE.
Clothing subscription concern Stitch Fix Inc (NYSE:SFIX) is sporting unusual options volume, with 31,000 calls and 11,000 puts across the the tape so far -- 18 times the expected intraday rate. Most active is the April 30 call, where 4,700 contracts have already been traded.SFIX's surge comesafter the company reported better-than-expected fourth-quarter revenue and upped its full-year forecast. The security has soared 30% to trade at $35.13 on the day, set to close well above its 200-day moving average.
In the bottom spot on the New York Stock Exchange (NYSE) is ADT Inc (NYSE:ADT), after the home security company issued a weak full-year forecast. ADT has now gapped 13% lower to trade at $6.60, and is back below the 50-day moving average. Despite today's drop, the security remains up about 10% year-to-date.
Near the top of the New York Stock Exchange (NYSE) this afternoon is Switch Inc (NYSE:SWCH), with the tech name surging ahead of earnings. At last check, SWCH is 9.3% higher at $9.02, on pace to mark its highest close since a mid-November post-earnings bear gap. Switch is slated to report fourth-quarter results after today's close.