Stocks Muted To Kick Off Busy Earnings Week

Stocks are struggling for direction today, despite the trade deal between the EU and U.S. announced over the weekend. The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are sitting on either side of breakeven, while the Nasdaq Composite (IXIC) trades quietly higher as investors are unpack the latest earnings reports and look ahead to the central bank's interest rate decision later this week.

MMC Stats 0728


Antero Resources Corp(NYSE: AR) stock is seeing unusual bearish activity, with 37,000 puts traded so far -- 21 times the intraday average volume -- compared to 725 calls. Most popular is the August 32 put, with positions opening at the September 30 put. AR is down 0.4% to trade at $32.41 at last glance, and carries an 8.2% year-to-date deficit. The equity is testing a floor at the $32 level after last week's bear gap placed it below former support from the 200-day moving average.

Super Micro Computer Inc (Nasdaq: SMCI) stock is leading the SPX today, last seen up 8% to trade at $58.84. Though a catalyst for this surge remains unclear, shares sport a 102.7% six-month lead, and are on track for their fourth-straight daily gain. SMCI also earlier surged to its highest level since February, bouncing off support from its 20-day moving average.

SMCI 20 Day


Albemarle Corp (NYSE: ALBstock is among the worst stocks on the SPX today, last seen down 9.4% to trade at $75.90. The company will announce second-quarter results after the close on Wednesday, July 31. ALB fell more than 22% in the past nine months, and is pulling back from last week's surge to its highest level since January.


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