Dow Rises Sharply as Tech Rebounds
The healthcare sector is also doing well today
U.S. stocks are pushing higher today thanks to the more lenient stance taken against Huawei by the Trump administration. The Dow is trading well into triple-digit territory, and gains from the tech and healthcare sectors are helping the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) rise, as well. On the data front, traders were greeted with another drop in existing U.S. home sales for April.
Continue reading for more on today's market, including:
A shocking bear case for Tesla. 2 drug stocks crashing to fresh lows. Plus, weed stock's weeklies hot; gene therapy stock jumps; and Kohl's gets crushed.
Weed stock Cronos Group Inc (NASDAQ:CRON) is seeing unusual options activity, with speculators likely targeting a strong finish to the week. Specifically, more than 2,600 contracts have crossed at the weekly 5/24 17-strike call -- roughly double the next closest contract -- and most have traded at the ask price, hinting at buy-to-open activity. CRON shares were last seen up 6% at $15.64, trying to break north from a recent consolidation pattern just atop their 200-day moving average.
One of the best stocks today is gene targeting specialist Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR), up 18.3% at $22.41 on news the security will be joining the small cap S&P 600 Index (SPCY). ARWR earlier hit a five-year high of $22.74, and is up 80% in 2019.
Kohl's Corporation (NYSE:KSS) is one of the worst performing stocks today after the company's earnings release. The shares hit an annual low of $54.15 earlier, and were last seen down 10.9% at $56.07. They were trading near $76 less than a month ago.