Schaeffer's Top Stock Picks for '25

Dow Extends Gains as Nike Sprints Higher

Oil, meanwhile, just hit a one-year low

Digital Content Manager
Feb 3, 2020 at 12:15 PM
facebook X logo linkedin


Stocks are continuing their push higher this afternoon, with the Dow Jones Industrial Average (DJI) adding nearly 300 points by midday thanks to a continued lift from Nike (NKE), and the S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) sporting notable gains of their own. This, of course, follows Friday's massive drop, which was exacerbated by coronavirus headwinds.

While some investors are taking profits on this huge drop, others on Wall Street are warning against buying the dip, as the Coronavirus continues to devastate China. In response, oil is eyeing another daily loss, as reports that Saudi Arabia is urging the Organization of the Petroleum Exporting Countries (OPEC) to make even deeper cuts to crude output, have surfaced. March-dated crude futures hit a new one-year low of $50.33 earlier, and were last seen down 0.9%, at $51.10. 

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

Midday Stats Feb 3

Tesla Inc (NASDAQ TSLA) is seeing a surge in activity in the options pits today, after the equity toppled the $700 level for the first time ever following a new deal with Chinese battery maker CATL, and news Japan's Panasonic marked its first-ever quarterly profit in its U.S. battery business with the equity. So far, 254,000 calls and 162,000 puts have crossed the tape, almost double what's typically seen at this point. The weekly 2/7 series is seeing quite a bit of action, with positions being opened at the 700-, 750-, and 800-strike calls.

The top stock on the Nasdaq today is Artelo Biosciences Inc (NASDAQ:ARTL), which has added 44.3% to trade at $2.93 so far, after Stony Brook University received a five-year grant worth $4.2 million from the National Cancer Institute that will support research and develop a platform licensed to the drugmaker of binding protein 5 (FABP5) inhibitors for cancer treatment. The equity touched a six-month high of $4.42 earlier today, and is on track for its biggest one-day percentage jump since last June. 

A post-earnings plummet has school security specialist Napco Security Technologies Inc (NASDAQ:NSSC) near the bottom of the Nasdaq today. The equity is off 18% to trade at $24.10, after posting fiscal second-quarter profits of 19 cents per share and revenue below analysts' estimates. NSSC is eyeing its lowest close since late-April, and just breached its 320-day moving average for the first time in nearly two years. 

NSSC Jan 3

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?

 

 

(function(doc, script) { var js, fjs = doc.getElementsByTagName(script)[0], frag = doc.createDocumentFragment(), add = function(url, id) { if (doc.getElementById(id)) {return;} js = doc.createElement(script); js.src = url; id && (js.id = id); frag.appendChild( js ); }; // Google+ button //add('https://apis.google.com/js/platform.js', async="defer"); // Facebook SDK add('//connect.facebook.net/en_US/all.js#xfbml=1&appId=772755279557744', 'facebook-jssdk'); // Twitter SDK //add('//platform.twitter.com/widgets.js', charset='utf-8'); fjs.parentNode.insertBefore(frag, fjs); }(document, 'script'));