Dow Lower as Selling Resumes
No sector has managed to avoid the market's weakness
The Dow Jones Industrial Average (DJI) is holding in negative territory today, giving back a chunk of yesterday's record-setting gains. Almost all sectors are trading in the red today, as investors digest not only a bigger-than-expected drop in consumer confidence this month, but some troubling geopolitical headlines, as well. In the meantime, the Cboe Volatility Index (VIX), or Wall Street's "fear gauge," is on the rise again, and oil prices are falling once more. February crude futures were last seen down 2.8% at $44.92 per barrel.
Continue reading for more on today's market, including:
The China stock gaining on restructuring news. An "extraordinarily attractive" media stock.Plus, day traders target casino stock; one of today's biggest gainers; and Live Ventures dives.
One name seeing unusual options activity today is MGM Resorts International (NYSE:MGM). More than 2,300 contracts have crossed at the weekly 12/28 23-strike call, and new positions are being opened here. Anyone buying the calls is betting on MGM shares gaining above $23 by the close tomorrow, Friday, Dec. 28. The casino stock was last seen down 0.4% today at $23.10.
Energous Corp (NASDAQ:WATT) is one of the biggest winners on Wall Street today, up more than 57% at last check to trade at $7.20, following the approval of the company's sound amplification device. Still, WATT is set to close 2018 as a gigantic loser, down 63% year-to-date, with the stock trying to close above its 20-day moving average for the first time in over a month.
