Trump Again Takes Aim at Amazon
Stocks are generally lower to kick off the week, equally investors remain on the sidelines ahead an onslaught of big-name earnings reports, starting with Google parent Alphabet (GOOGL) after the close. While bank stocks are helping the Southward&P 500 Index (SPX) climb out of the cherry-red, the Dow Jones Industrial Average (DJI) is pacing for a third direct drop, and the tech-richNasdaq Blended (IXIC) is headed for its 4th directly decline, with Amazon (AMZN) shares lower post-obit some other Twitter tirade from President Donald Trump. The president one time over again took aim at Amazon's aircraft practices, calling the U.S. Post Function the company's "delivery boy," and threatening antitrust activeness. Trump'southward morning time tweetstorm also included threats against Iran, sending oil prices modestly higher. At last cheque, September-dated crude futures were upwards 40 cents, or 0.six%, at $68.63 per barrel.
Continue reading for more on today'southward market, including:
- 2 auto stocks lower after surprise CEO shakeups.
- The report sinking Tesla stock today.
- Plus, options bulls bet on more Goldman Sachs stock momentum; Mattel stock jumps with Hasbro; and Micron stock pulls back.
One proper name seeing notable options trading today isGoldman Sachs Group Inc (NYSE:GS), where more 23,000 calls have traded -- 1.7 times what's typically seen at this point, and volume pacing for the 94th percentile of its annual range. Leading the charge today is the weekly 7/27 235-strike call, with over 2,600 contracts exchanged, and new bullish positions beingness opened. Shares of the banking giant are upwardly one.one% to trade at $234.eighteen today -- set to topple their 60-day moving average for the first time since March -- every bit fiscal stocks buck the wide-market decline.
Mattel, Inc. (NASDAQ:MAT)is one of the best stocks on the S&P 500 today, up iv.1% to trade at $sixteen.64, likely getting a halo lift from sector peer Hasbro (HAS) and its earnings trounce. Mattel stock has now bounced from its 200-24-hour interval moving boilerplate, a trendline that served as a ceiling earlier in the year but has provided a floor since early June. Overall, MAT now sports a 8% lead in 2018.
Micron Technology, Inc. (NASDAQ:MU) is one of the worst stocks on the Nasdaq today, downward 3.3% to trade at $53.22, a part of a broader semiconductor sector pullback. Morgan Stanley analysts said the "present tariff-related uncertainty ... could represent the need stupor that leads to an inventory unwind in the semi supply chain." The drop has Micron stock testing its 120-day moving average, a trendline that caught a pullback earlier in July. Overall, MU has added nearly 29% in 2018.
Source: https://www.schaeffersresearch.com/content/ezines/2018/07/23/stocks-poised-to-extend-slide-trump-takes-aim-at-amazon
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