The president's address is scheduled for midday
The Dow Jones Industrial Average (DJI) is up modestly at midday, getting a lift from Walt Disney (DIS) stock, which is higher amid the launch of the Disney+ streaming service. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are cautiously higher, too -- tagging new record highs earlier -- as traders look toward today's speech from President Donald Trump, set to get underway at the Economic Club of New York any minute now, watching for any additional comments he may have on U.S.-China trade negotiations.
Continue reading for more on today's market, including:
Ride-sharing service Uber Technologies Inc (NYSE:UBER) is seeing unusual options trading today, with Trade-Alert highlighting a 2,136-contract block of weekly 11/22 29-strike calls that was likely bought to open for $64,080 (number of contracts * $0.30 premium paid * 100 shares per contract). This makes breakeven for the call buyer $29.30 (strike plus premium), which sits 7.8% above UBER stock's current perch at $27.18, up 0.1% so far today -- just above its Nov. 6 record low of $25.58.
Rockwell Automation (NYSE:ROK) is one of the best stocks on the S&P 500 today, up 13.3% at $203.05, fresh off a 22-month high of $207.11. This comes after the industrial automation equipment maker reported better-than-expected fiscal fourth-quarter adjusted earnings, and gave upbeat full-year profit guidance.
Advance Auto Parts, Inc. (NYSE:AAP) is at the bottom of the SPX this afternoon, after the auto parts retailer unveiled lower-than-anticipated third-quarter gross profit margin, and slashed its full-year same-store sales growth forecast. This is overshadowing a quarterly profit beat, while revenue for the three-month period matched the consensus estimate. In reaction, AAP stock is down 7.6% to trade at $155.99 -- a move options bears were ready for.