Dow On Track For 9 Straight After Johnson & Johnson Earnings

The Dow Jones Industrial Average (DJI) is looking to extend its win streak, last seen up 250 points as it paces for its ninth consecutive win with help from Johnson & Johnson's (JNJ) quarterly beat. Post-earnings drops from Tesla (TSLA) and Netflix (NFLX) are still weighing on the Nasdaq Composite (IXIC) and S&P 500 Index (SPX), however. Meanwhile, Wall Street is unpacking this morning's manufacturing and jobless claims data along with existing home sales, which fell a larger-than-expected 3.3% in June. 

MMC Stats 0720 2

Options bulls are swarming Johnson & Johnson (NYSE: JNJ) after the pharma name reported a second-quarter earnings and revenue beat. So far, 110,000 calls have been exchanged -- or 13 times the intraday average volume -- compared to 22,000 puts. The most popular by far is the July 165 call, which expires at the close tomorrow. Last seen up 5.8% at $168.06, the equity earlier hit its highest level since January, but is still 5% lower in 2023.

PainReform Ltd (Nasdaq: PRFX) is one of the best stocks on the Nasdaq today, last seen up 43.7% at $10.22, after it regained compliance with the benchmark's continued listing requirements. The equity has been extremely volatile this month, hitting a July 11, one-year high of $26.41 before pivoting lower again. Its 20-day moving average has been acting as support through this volatility, and year-to-date PRFX is up 149.2%.

At the bottom of the Nasdaq is Vir Biotechnology Inc (Nasdaq: VIR), which is down 44.5% at $12.80 this afternoon. Today's bear gap came after the company's flu therapy failed in mid-stage study. The equity earlier slipped to a three-year low of $12.71, with overhead pressure from its 20-day moving average keeping a lid on gains since mid-June. Year-over-year, VIR is down 57.3%.

VIR 20 Day


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