A lackluster round of bank earnings isn't keeping the DJIA down
The Dow Jones Industrial Average (DJIA) has brushed off a lackluster start to bank earnings season -- which is weighing on the broader financial sector -- after disappointing inflation and retail sales data. The relatively weak data has some speculating whether the Federal Reserve will tap the brakes on potential rate hikes, especially following this week's dovish tone from Fed Chair Janet Yellen. The S&P 500 Index (SPX) is also higher, and while the Dow is on track for a new record close, the Nasdaq Composite (COMP) is barreling toward its sixth straight daily win, and its best week since April.
Continue reading for more on today's market -- and don't miss:
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- Plus, HIMX put volume peaks; another up day for NRG stock; and a soaring penny stock.
Among the stocks with unusual options volume is Himax Technologies, Inc. (ADR) (NASDAQ:HIMX), with 17,176 puts traded -- a new annual high, and 20 times the expected intraday amount. HIMX stock is down 1.7% at $7.87, after Oppenheimer downgraded it to "underperform," and options traders are bracing for even more losses after the chipmaker's Aug. 3 earnings report. The August 7 and weekly 8/25 6.50-strike puts are most active, and are likely being bought to open.
NRG Energy Inc (NYSE:NRG) is near the top of the SPX, with the shares last seen trading 2.3% higher at $22.72. It's been a banner run for the utility name after the company unveiled its transformation plan on Wednesday, with NRG stock on track to settle the week up 40%.
Rand Logistics, Inc. (NASDAQ:RLOG) is the biggest percentage gainer on the Nasdaq, after the shipping name reported earnings. The penny stock has nearly doubled in value, up 95.8% at $0.44.