Dow Extends Rally As Treasury Yields Tank

The Dow Jones Industrial Average (DJI) is charging full speed ahead, up 78 points this afternoon after yesterday closing at record highs, on the heels of the Federal Reserve’s rate decision. The S&P 500 Index (SPX) is higher as well, while the Nasdaq Composite (IXIC) is flat, following better-than-expected retail sales data, which pointed to strong consumer spending. Meanwhile, the 10-year Treasury yield fell below 4% for the first time in several months.MMC Stats 1214
Caesars Entertainment Inc (Nasdaq: CZR) is getting blasted in the options pits today, with 49,000 calls and 15,000 puts exchanged so far today, which is 23 times the volume typically seen at this point. Most popular is the January 19, 2024 55-strike call, with new positions being opened there. The catalyst behind today’s 4.8% gain, which has shares trading at $49.06 at last check, is unclear. The equity is also brushing off a price-target cut from J.P. Morgan Securities to $55 from $60, and sports an 18.2% lead for 2023.Glaukos Corp (NYSE: GKOS) is toward the top of the New York Stock Exchange (NYSE)last seen up 13.2% at $68.40. Today’s pop comes after the Food and Drug Administration (FDA) approved its Dose® TR (travoprost intracameral implant). The equity is now on track for its first close above the 80-day moving average since late September and sports a 58.6% year-to-date lead.GKOS
The NYSE began delisting proceeding for Regis Corp (NYSE: RGS) stock, pushing it 12.4% lower to trade at $8.15 at last check. The 60-day moving average rejected RGS’ recent rally off a Nov. 29, all-time low of $7,50, and has been acting as pressure since August. RGS is down more than 66% in 2023.More By This Author:Dow Hits Record Highs After Fed Decision
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