Dow Down Slightly Ahead of Fed Minutes

The Nasdaq and S&P, on the other hand, are in the black at midday

Digital Content Manager
Apr 10, 2019 at 12:03 PM
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The Dow Jones Industrial Average (DJI) has traded on both sides of breakeven today, but was last seen lower, as traders await the Fed's March meeting minutes. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC), on the other hand, are both in the black at midday, as investors cheer strong first-quarter earnings and guidance from Delta Air Lines (DAL), as well as a rally in chip stocks. Financial stocks also remain in focus, with several CEOs on Capitol Hill ahead of a round of big bank earnings.

Continue reading for more on today's market, including: 

  • The pot stock higher on expansion plans.
  • The upgraded retail stock ready to rocket higher, if past is prologue. 
  • Plus, MRVL options light up; Safe-T announces a big acquisition; and Calix lowers its first-quarter forecast.  

Midday Market Stats Apr 10

Marvell Technology Group Ltd (NASDAQ:MRVL) is seeing unusual options volume today, with roughly 6,033 puts traded -- four times the average intraday volume. The May 17 put is the most popular, with a block of 4,500 contracts traded earlier. On the flip side, one trader is likely rolling up April 20.50 calls to the weekly 5/3 22.50-strike call, per Trade-Alert. MRVL stock is up 1.8% at $22.11, at last glance. 

Israel-based software company Safe-T Group Ltd (NASDAQ:SFET) is among the top performers on the Nasdaq today, continuing its recent rally on plans to purchase network solutions name NetNut Ltd. The shares are up 19.7% at $3.14, at last check, and are pacing for their third straight win.

One of the worst stocks on the New York Stock Exchange (NYSE) is Calix Inc (NYSE:CALX). The cloud-based software concern is down 11.9% at $6.96, at last glance, after lowering its first-quarter revenue forecast. The shares just touched seven-month lows, and are set to finish below their 320-day moving average, which has acted as a floor for CALX, of late. 

CALX Chart Apr 10

 

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