Blue Chips, Small Caps Extending Their Breakout

The Dow Jones Industrial Average (DJIA) is stealing the show today, last seen up 546 points for a new record high and on track for its best single-session gain since January 2023. Once more in lockstep with the blue-chip index is the small-cap Russell 2000 Index (RUT), pacing for a fifth-straight win and trading at its highest level since early 2022.

Bank stocks are leading the charge today, while investors are also encouraged by stronger-than-expected retail sales for June. Elsewhere, the S&P 500 Index (SPX) is modestly higher, while the tech-heavy Nasdaq Composite (IXIC) sits out the rally. 

MMC Stats July 16


Crispr Therapeutics AG (Nasdaq: CRSP) stock is getting attention from options bulls today. At last check, over 6,000 calls have changed hands, volume that's four times the average intraday amount and more than six times the number of puts traded. The August 65 call is the most popular by far, with new positions being bought to open. The gene-editing stock is up 6% to trade at $60.87 today but is still battling its year-to-date breakeven level. 

Match Group Inc (Nasdaq: MTCHstock is near the top of the SPX today, last seen up 8.1% to trade at $34.59 after the Wall Street Journal reported that activist investor Starboard has built a 6.6% stake in the Tinder parent. Now only down 5.2% in 2024, MTCH is on track to clear its 200-day moving average on a closing basis for the first time since February 1. 

MMC Stock Chart MTCH


Progressive Corp (NYSE: PGR) is on the other end of the spectrum, last seen down 3.6% to trade at $209.31. The shares roared to a record high of $223.84 out of the gate today, after the insurance giant reported a top-line beat for the second quarter. Despite a price-target hike to $242 from $239, PGR has since given back its early morning gains. Year-to-date, the shares remain up 31.7%. 


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