Day Traders Diary
The major averages are trading higher, building on a strong June rally, as tech shares rebounded from losses in the previous session. The Dow Jones Industrial Average climbed 126 points as Disney shares outperformed. The S&P 500 gained 0.4%, led by the energy and tech sectors. The Nasdaq Composite advanced 0.5%.
Disney shares contributed to the gains, rising more than 1% after an analyst at Morgan Stanley raised his price target on the stock to $160 per share from $135. The analyst cited the company's new streaming service, noting it could give its global subscriber numbers a boost.
Oil prices are higher on reports a oil tanker was attacked in the Gulf of Oman. U.S. crude prices traded 3.4% higher at $52.86 per barrel. The jump comes a day after oil slipped to its lowest level in five months.
The retail space is performing well this morning. Lululemon is jumping 4% following strong earnings. RH (Restoration Hardware) is jumping 20% following earnings. Red Robin is jumping over 20% on rumors of a private equity firm making a buyout bid.All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.