Stocks Trade Mixed as Tech Slumps
The S&P has managed to hit an all-time high though
U.S. stocks are trading mixed so far today. The Dow Jones Industrial Average (DJI) has managed to overcome more selling on Boeing (BA) on the latest 737 MAX news to sport a modest lead, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are holding near breakeven as tech and healthcare shares slump -- though the S&P did manage a fresh record high already as a number of retail stocks move higher. Outside of that, oil prices are holding above the closely watched $60 level, with January crude futures up 1.3% at $60.99 per barrel.
Continue reading for more on today's market, including:
One name seeing unusual options trading is United Technologies Corporation (NYSE:UTX). The aerospace parts supplier is down 0.6% today to $148.53 on Boeing headwinds, but it's call volume that's rocking, running in the 99th annual percentile. Traders are opening new positions at the weekly 12/27 149- and 150-strike calls, and those buying the contracts would be betting on a rebound above the $149 and $150 levels before expiration next Friday, Dec. 27.
One of the best stocks today is Worthington Industries (NYSE:WOR), as shares of the Ohio-based steel company gain 9.3% to trade at $43.67 after a top- and bottom-line beat for the fiscal second quarter. WOR stock hit a 52-week high of $44.58 earlier, while blowing past long-term resistance in the $41 area.
One of the worst stocks today is Navistar International Corp (NYSE:NAV), as the truck maker's shares dip 7.6% to $29.90, while making a sharp move below recent support at the 200-day moving average. The company reported weak fourth-quarter sales, and its full-year outlook was disappointing.
