Trade optimism is powering Wall Street at midday
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| | | 10/25/2019 | |
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| Stocks Up as S&P 500 Eyes Record Close | | By Patrick Martin | | The Dow Jones Industrial Average (DJI) looks poised to finish the week strong, up nearly 200 points at midday, thanks to a blowout earnings report from chip icon Intel (INTC). The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are firmly in the black too, and heading for their third straight wins, with the former pacing for a record closing high. The latter's rise is particularly notable considering the disappointing quarterly report from FAANG darling Amazon.com (AMZN). All three benchmarks are heading toward weekly wins, and traders today are digesting news that the U.S. and China are "close to finalizing some sections" of a phase one trade deal, according to the Office of the U.S. Trade Representative. Continue reading for more on today's market, including: - Buy puts on this blue chip before earnings next week.
- Anheuser Busch Inbev stock just breached a key trendline after earnings.
- Plus, options traders react to Verizon earnings; Fifth Third earns another upgrade; and VF Corp whiffs on earnings.
| | >> Continue reading... | |
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