Stocks Cautiously Higher With Tech, Energy in Focus – Schaeffers Research

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U.S. stocks are trading just above breakeven this afternoon, with the Dow Jones Industrial Average (DJIA)S&P 500 Index (SPX), and Nasdaq Composite (IXIC) attempting to shake off early losses. However, it’s been a seesaw session thus far, as traders digest a stronger-than-expected ADP private payrolls report and another attempted rebound by tech stocks. Meanwhile, energy stocks are lower following a surge in domestic gasoline supplies last week. At last check, January-dated crude oil futures were down 2.5% at $56.18 per barrel.

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

  • 3 stocks moving on bitcoin buzz.
  • Amazon’s new FAANG deal.
  • Plus, Olin Corporation’s unusual volume; the tax stock nearing the top of NYSE; and one of Nasdaq’s big pharma losers.

Midday Market Stats Dec 6

Among the stocks with unusual call options volume is Olin Corporation (NYSE:OLN), with roughly 16,000 call options traded — 33 times the average intraday norm, and on pace for the highest percentile of its annual range. The January 36 call is among the most popular, thanks to a tied block of 15,000 contracts. At last check, OLN stock was up 0.5% at $35.13, and recently tested support around its 80-day moving average.

One of the top performers on the New York Stock Exchange is H & R Block, Inc. (NYSE:HRB), after the company reported a narrower-than-expected fiscal second-quarter loss. HRB stock was last seen 7% higher at $28.10, but is struggling to close its August bear gap.

Meanwhile, one of the worst Nasdaq stocks is drug stock Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE). The stock has been rallying amid upbeat drug data, up more than 50% from its mid-August lows, but are backing down from their formerly supportive 200-day moving average. At last check, ZYNE was down 10% at $11.71.

Daily Chart of ZYNE Since Jan 2017 with 200MA

JPMorgan Chase & Co

JPMorgan Chase & Co

JPMorgan Chase & Co

JPMorgan Chase & Co

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