Nah, it's not Christmas yet. Back to work.
Here Comes the January Market Correction
Nasdaq 7,000 felt amazing on Monday, right? You know it did. Be honest, you counted your year to date gains on Facebook (FB - Get Report) , Apple (AAPL - Get Report) and Netflix (NFLX - Get Report) today at least ten times. It's all good.
But, while you were counting those paper profits some sophisticated investors may be starting to bank on a a mild pullback in stocks in early 2018. The cost of betting on an increase in the Cboe Volatility Index (VIX) have ripped to a peak compared to wagers for a drop, points out Credit Suisse strategists. The move hints that investors are betting record low volatility won't continue for much longer, for whatever presently unknown reason.
Maybe everyone will rotate out of aforementioned Facebook and into bitcoin, litecoin and dogecoin.
Intel's Stock Is on Fire
Just like that Intel's (INTC - Get Report) stock is on fire. Shares of the tech giant have spiked about 6% over the past five sessions. The stock was the fourth best-performing tech stock on Monday, according to Bloomberg data. Propelling shares was a bullish note out of Wells Fargo, which called out Intel's dominate position in the data processor market and exposure to autonomous driving via Mobileeye.
The action made us reflect back on our interview with Intel CEO Brian Krzanich.
Will Anything Stop Roku's Stock?
On Monday, Roku's stock climbed over 8.8% to $56.94. Last week, shares gained close to 15%.
One doesn't have to look too far to see what has been spurring the recent gains.
As TheStreet pointed out last week, Twenty-First Century Fox Inc. (FOXA) said it plans to keep its minority stake in Roku after the ink dries on its deal with Walt Disney Co. (DIS - Get Report) . Since Fox plans to sell its stake in Roku rival Hulu as part of the deal, a decision to hold onto Roku suggests media giant Fox still has high hopes for the company. Or, it could mean Fox makes a play to acquire Roku.
Roku has added more than $1 billion in market since the Disney/Fox deal was announced.
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