U.S.-China Trade Hopes Push Stocks Higher
May's Brexit deal was struck down for a third time
U.S. stocks arehigher in afternoon trading, with the Dow Jones Industrial Average (DJI) boasting a 129-point lead, andthe Nasdaq Composite (IXIC) and S&P 500 Index (SPX) also in the black. Optimism over U.S.-China trade talks is lifting stocks, following U.S. Treasury Secretary Steven Mnuchin's tweet, with trade-sensitive Caterpillar (CAT) and Boeing (BA) at the top of the Dow. Walgreens Boots Alliance (WBA) is also notably higher ahead of earnings next week.Elsewhere, U.K. Prime Minister Theresa May's latest Brexit proposal has been voted down for the third time, prompting European Council President Donald Tusk to call for an emergency meeting on April 10, ahead of the April 12 deadline to leave the European Union.
Continue reading for more on today's market, including:
3 pharma stocks that could soar 100%, according to analysts.Baird is bullish on this Chinese tech giant.Plus, BlackBerry stock's post-earnings options surge; car stock topping the NYSE; and the buzzing biotech.
Tech concern BlackBerry Ltd (NYSE:BB) is sporting unusual options volume today, with roughly 69,000 calls and 12,000 puts across the tape so far. This surge is 13 times the expected intraday rate, and most active by a long shot is the expiring weekly 3/29 10-strike call, where over 12,000 contracts have changed hands. BB is seeing an increase in attention after the company posted a quarterly profit beat this morning, bringing the shares up 13.7% to $10.10, at last check. The equity is set to close atop its 200-day moving average for the first time since September.
CarMax, Inc (NYSE:KMX) is one of the top stocks on the New York Stock Exchange (NYSE) today, after the car resale company reported better-than-expected fourth-quarter profit and revenue. In response, KMX is up 8.7% at $69.22, at last glance, eyeing its first close above the 160-day moving average since Oct. 29. Today's surge has pushed the stock's year-to-date lead to nearly 10%.
Biotech Zymeworks Inc (NYSE:ZYME) is also at the top of the NYSE this afternoon, adding to its already impressive 33% year-over-year gains. While the catalyst behind today's surge is unknown, the stock was last seen up 3.4% at $16.06, attempting another breakout above the $16 ceiling.