Dow Rallies as Apple, Microsoft Hit All-Time Highs
Walmart is the best Dow stock today, though
The Dow Jones Industrial Average (DJI) is trading well into triple-digit-gain territory today, as a dearth of market-moving news has stocks continuing their positive momentum from last week's upbeat jobs report. Walmart (WMT) is the best performing blue chip today amid a broader rally in retail stocks and news the company sold the majority of its Brazilian operations, while Apple (AAPL) tapped a record high earlier as the iPhone maker's developers conference gets underway. Microsoft (MSFT) also hit an all-time peak, after the software giant announced it's buying GitHub for $7.5 billion. These gains have spread to the S&P 500 Index (SPX) and Nasdaq Composite (IXIC), with the latter index pacing for its second highest close ever.
Continue reading for more on today's market, including:
Renewed data fears are weighing on Facebook stock. The drug stock set for its worst day in over a decade. Plus, big call activity on eBay; Fossil stock keeps surging; and a sinking solar stock.
One name seeing heavy options activity today is eBay Inc (NASDAQ:EBAY). Roughly 8,0700 calls have crossed so far, already surpassing the average daily volume and dwarfing the 2,000 puts that have changed hands. More than half the call volume has traded at the weekly 6/8 39-strike call, where new positions are being opened. Those buying the calls expect EBAY shares to topple the $39 level by week's end, when the contracts expire. The e-commerce stock was last seen trading at $38.66, just below the 50-day moving average.
One of the best Nasdaq stocks today is fashion accessories concern Fossil Group Inc (NASDAQ:FOSL), as it continues to surge up the charts. FOSL stock is trading up 8.7% at $25.77, bringing its year-to-date gain to 230%, and it earlier hit a 52-week high of $26.25. The shares' initial rally began back in February thanks to a blowout earnings report, and today's gains are partially thanks to a price-target hike to $32 from $25 at KeyBanc.
Over on the New York Stock Exchange, JinkoSolar Holding Co., Ltd. (NYSE:JKS) is sinking, down 11.3% at $13.43-- fresh off a four-year low of $12.56 -- due to recent news that China is cutting subsidies for solar projects in a broader effort to control the size of the market. This move comes after JKS lost 14.1% in Friday's session, and the shares have now shed 45.3% in 2018 alone.