Dow Remains Lower as Gold Hits Fresh Highs
Investors are focused on rising turmoil between the U.S. and Iran
The Dow Jones Industrial Average (DJI) is still lower at midday as geopolitical tensions, sparked by the killing of Iranian military commander Qassem Soleimani, remain high. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC), however, are treading near breakeven after paring most of their intraday losses. Elsewhere, February-dated gold futures hit a six-year intraday high and were last seen up 0.8% at $1,564.50 an ounce, as investors continue to show caution by scooping up the safe-haven commodity.
Continue reading for more on today's market, including:
Immunomedics, Inc. (NASDAQ:IMMU) is seeing unusual options activity today with 1,443 puts across the tape so far -- double what's typically seen at this point -- compared to only 347 calls, and the January 2020 18-strike put is far and away the most popular. IMMU is trading relatively flat today, down 0.1% at $19.76, at last check.
By far one of the top performers on the Nasdaq today is CTI Industries Corp. (NASDAQ:CTIB), which is up 301.3% to trade at $3.19, on news it's divesting its Guadalajara, Mexico unit for roughly $4 million. The news has CTIB pacing for its first close atop the 320-day moving average since July 2017.
One of the worst stocks on the Nasdaq today is Osmotica Pharmaceuticals PLC (NASDAQ:OSMT). The stock has fallen 17.9% to trade at $5.73 -- home of its late-November levels -- after commencing its stock offering of 6 million shares. However, the shares seem to be finding support near the 50-day moving average.