The COMP has moved lower with the DJIA, but earlier notched an all-time high
The Dow Jones Industrial Average (DJIA) is down nearly triple digits, in what's been a rocky start to the second quarter -- especially for utilities and financial shares. Weighing on stocks are concerns about President Donald Trump's upcoming meeting with Chinese President Xi Jinping, along with mixed economic data. Specifically, the ISM manufacturing index came in above estimates and construction spending rose to a nearly 11-year high, but Markit's manufacturing purchasing managers index (PMI) missed the consensus view en route to a six-month low, while March auto sales have generally underwhelmed. Meanwhile, New York and other states have accused the Trump administration of breaking the law by delaying energy efficiency standards, exacerbating concerns about the president's ability to deliver on campaign promises. However, while the Nasdaq Composite (COMP) has turned lower with the Dow, the tech-rich index earlier notched a fresh all-time high.
Continue reading for more on today's market -- and don't miss:
- 2 casino stocks hitting the proverbial jackpot.
- Barron's: Contrarians could make 30% on Under Armour stock.
- Plus, Lumber Liquidators stock hits highs; Novocure explodes on drug data; and Fiat shares slide on sales.
Among the stocks with unusual call volume today is flooring expert Lumber Liquidators Holdings Inc (NYSE:LL), where the contracts are crossing at 23 times the expected intraday rate. Most active is the in-the-money August 21 call, where International Securities Exchange (ISE) data confirms some buy-to-open activity. LL stock was last seen 6% higher at $22.25, and earlier touched a 12-month peak of $22.73.
The top percentage gainer on the Nasdaq today is drug stock Novocure Ltd (NASDAQ:NVCR), up nearly 47% at $11.90. Driving the shares -- which are trading at their highest level in nearly a year -- is positive drug data.
Automaker Fiat Chrysler Automobiles NV (NYSE:FCAU) is one of the worst performers on the New York Stock Exchange, down 4.8% at $10.43. FCAU stock is being hammered by a 5% year-over-year decline in March auto sales.