Dow Rises as Energy Stocks Shine
Stocks are enjoying a relief rally today
The Dow Jones Industrial Average (DJI) is trading higher today, with stocks benefiting from positive market news from around the globe. Mainly, traders are applauding upbeat headlines out of Hong Kong, while also keeping tabs on a flurry of Fed speeches. The tech sector is again outperforming, and energy stocks are some of the top gainers, too, rising alongside oil prices. At last check, October crude futures were up 4% at $56.07 per barrel.
Continue reading for more on today's market, including:
Software stock rallies to new high after earnings. Why one Wall Street firm is betting Activision Blizzard will break out. Plus, Kroger calls accelerated; Navistar's earnings pop; and retailer hits new low.
One name seeing accelerated options trading is Kroger Co (NYSE:KR), as calls cross at seven times the expected rate. The most popular contract is the September 25 call, where buy-to-open activity could be taking place. Next up is the weekly 9/6 24.50-strike call, which expires at the close this Friday, Sept. 6. KR shares were last seen up 1.4% at $24.34, eyeing their best close since mid-June.
One of the best stocks today is Navistar International Corp (NYSE:NAV), as the automaker breaks out 8.1% to $23.63 post-earnings. Now, NAV shares are trying to break above the 20-day moving average, though speculators may be betting on a ceiling at the $24 level by selling to open the weekly 9/6 24-strike call.
