Behind Incyte's Big Sell-Off

Wall Street is also watching heightened tensions between the U.S. and Iran

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Midday Market Check
MIDDAY MARKET CHECK
 
 

1/03/2020
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Dreary Manufacturing Data Keeps Dow in the Red

By Karee Venema
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The Dow Jones Industrial Average (DJI) is down more than 240 points at midday, as Wall Street weighs news a U.S. airstrike had killed top Iranian military commander, Qassem Soleimani. Iran's promise of "harsh retaliation" in response to the attack is only stoking the bearish flames, while traders are also digesting weak factory data, with the Institute for Supply Management's (ISM) manufacturing index hitting a 10-year low of 47.2 in December. Oil prices, meanwhile, are spiking, with February-dated crude up 3.1% at $63.05 per barrel.

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

  • 2 airline stocks selling off on escalating U.S.-Iran tensions
  • J.P. Morgan Securities thinks Humana can rally another 23%.
  • Plus, Snap calls in heavy rotation; behind Incyte's big sell-off; and GameStop retreats from key trendline. 
>> Continue reading...
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Gold prices continue to climb, too
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