Stocks Up Amid Promising Trade Prospects
Another down day for Boeing is keeping the Dow's gains in check
The Dow Jones Industrial Average (DJI) has traded on both sides of breakeven to start the week, but was last seen modestly higher amid U.S.-China trade optimism. Despite another dismal day for scandal-laden Boeing(BA), the blue-chip index is up after Chinese Vice Premier Liu He reported "substantial progress" on trade talks over the weekend, and expressed enthusiasm in ironing out the remaining trade concerns. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also both in the black, with the tech-heavy latter enjoying particularly outsized gains. Elsewhere, oil prices are pulling back today, with December-dated crude futures down 1.2% at $53.14 per barrel.
Continue reading for more on today's market, including:
2 analysts bet on Chipotle stock ahead of earnings.This FAANG stock could jump another 20%, per Raymond James. Plus, options bulls target JBLU ahead of earnings; COTY up on strategic review; and Halliburton breaks out after earnings.
One name seeing heightened options volume today is JetBlue Airways Corporation (NASDAQ:JBLU), with more than 12,000 calls crossing the tape so far -- 33 times the average intraday amount, and 21 times the number of puts traded. The most active option is the November 17 call, where new positions are being opened. The airliner reports earnings tomorrow and is up 4% to trade at $17.64 today -- testing their 200-day moving average -- indicating options traders are banking on a sustained take-off in the coming weeks.
Coty Inc (NYSE:COTY) is near the top of the New York Stock Exchange (NYSE) today, up almost 11.9% to trade at $11.52, after the cosmetics chain announced it was exploring strategic options for its professional beauty unit. COTY is heading for its highest close since mid-July, and its best single-session game since Feb. 8. Recent support has emerged at the $10 level, which also coincides with its 50-day moving average.
The shares of Halliburton Company (NYSE:HAL) are up 5% to trade at $19.37, after the oilfield services name reported third-quarter earnings that exceeded analyst expectations. HAL is on track for its best day since Sept. 16, but has still shed 26% year-to-date.