Dow Heads Toward 6th Straight Drop
The blue-chip index is on track to extend its longest losing streak in more than a year
The Dow Jones Industrial Average (DJI) has turned lower once again, putting the index on pace for a sixth straight loss. While Boeing (BA) continues to trade higher following its impressive earnings report, the gains have been offset by sharp slides for a number of blue chips, including Coca-Cola (KO) and American Express (AXP). Rising interest rates are keeping stocks in check, too, with the 10-year Treasury yield holding above 3%. As such, the Cboe Volatility Index (VIX) is eyeing its highest settlement in two weeks.
Continue reading for more on today's market, including:
2 chip stocks bucking recent sector headwinds. Twitter options volume is surging after earnings.Plus, Chipotle calls hot ahead of earnings; and 2 travel stocks going in radically different directions.
Chipotle Mexican Grill, Inc. (NYSE:CMG) is seeing heavy call volume ahead of tonight's earnings release. The June 330 and 350 calls are most popular, and new positions are being opened at the May 352.50 call, as well. The ask price for this latter contract was last seen at $9.70, meaning CMG shares would need to clear $362.20 (strike + premium paid) at expiration at the close on Friday, May 18, for these call buyers to profit. The security is trading up 1.4% at $337.82 today.
One of the best performing Nasdaq stocks today is travel site Travelzoo Inc. (NASDAQ:TZOO). The shares were last quoted at $9.55, up 22.1% on the day, thanks to well-received first-quarter results. TZOO is now set for its first close atop the 320-day moving average since the August bear gap.
