Consumer Discretionary Surge Helps Stock Indexes Pare Losses – Schaeffers Research (press release)

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The Dow Jones Industrial Average (DJI) is well off its intraday lows, but is still in negative territory as China’s tariff announcement sparks sharp losses from blue chips Boeing (BA) and Caterpillar (CAT). Meanwhile, the S&P 500 Index (SPX) is back above its 200-day moving average, as food names lead a rally in consumer discretionary stocks — specifically, with meat producers higher on Beijing’s plans to tax soybeans. Plus, a rebound in tech names like Apple (AAPL) has the Nasdaq Composite (IXIC) briefly trading positive.

Continue reading for more on today’s market, including:

One name seeing unusual options activity is Twitter Inc (NYSE:TWTR), with calls more than quadrupling puts today. Trade-Alert is highlighting a number of call spreads involving the weekly 4/13 32- and 35-strike calls, as traders bet on a quick pop from the social media stock in the coming weeks. It’s worth noting that TWTR’s 10-day call/put volume ratio across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) has plummeted to 1.62 — landing at the bottom of its 52-week range and showing an unusual appetite for long puts compared to calls. The shares were last seen trading up 2.3% at $28.18.

One of the best stocks on the New York Stock Exchange (NYSE) today is homebuilder Lennar Corporation (NYSE:LEN). The company reported better-than-expected top- and bottom-line results for the fiscal first quarter earlier, including a 30.4% jump in home orders. LEN shares were last seen up 6.3% at $60.68, putting them back above the 50-day while so far topping options traders’ volatility expectations.

Software stock Cloudera Inc (NYSE:CLDR), meanwhile, is the worst performer on the NYSE, down 39% at $13.59 following the company’s weak full-year outlook. The shares earlier tapped their lowest prce ever at $13.34, and CLDR has received several bearish analyst notes, including a downgrade to “hold” from “buy” at Deutsche Bank.

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