Dow reaches all-time high on commodity surge; S&P, Nasdaq drop
By Stephen Culp
Reuters
NEW YORK (Reuters) - Wall Street was mixed on Monday, with economically sensitive cyclical shares advancing as investors shifted their bets in favor of stocks that stand to benefit most as the economy reopens and the consumer, flush with stimulus and savings, brings demand roaring back to life.
Tech shares reversed Friday s gains, pulling the S&P 500 and the Nasdaq into negative territory, while industrial and healthcare shares set the blue-chip Dow on course for its fourth consecutive all-time closing high. You continue to see this rotation between tech-plus and cyclicals, and certainly the spike in inflation of input costs benefits cyclicals in terms of pricing, said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.
Dow Jones Industrial Average : reaches all-time high on commodity surge; S&P, Nasdaq drop
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Three Signs Of Unusual Options Activity
Exceptionally large volume (compared to historical averages) is one reason for which options market activity can be considered unusual. The volume of options activity refers to the number of contracts traded over a given time period. The number of unsettled contracts that have been traded, but not yet closed, is called open interest. These contracts are not yet closed because a buyer has not purchased the contract, or a seller has not sold it.
Another indicator of unusual options activity is the trading of a contract with an expiration date in the distant future. Additional time until a contract expires generally increases the potential for it to grow its time value and reach its strike price. It is important to consider time value because it represents the difference between the strike price and the value of the underlying asset.