Stocks Higher Ahead of Powell

The S&P and Nasdaq are close to breakeven on the day

by Josh Selway

Published on Sep 6, 2019 at 12:01 PM

The Dow Jones Industrial Average (DJI) is trading cautiously higher today, as Wall Street considers this morning's jobs report for August. The tepid trading could also be due to the upcoming talk from Fed Chair Jerome Powell, as investors look for hints to potential changes in monetary policy. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also testing positive territory, though both have already traded in the red on the day.

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

midday market stats sept 6

One name seeing accelerated options trading today is Box Inc (NYSE:BOX), with heavy attention at the September 18 call. More than 10,000 contracts have traded here, compared to fewer than 700 at the next closest option, and buy-to-open activity looks likely. BOX stock was last seen up 1.6% at $17.42, extending its big week.

Kellogg Company (NYSE:K) is a notable gainer following a bull note out of Goldman Sachs. The stock is trading up 2.2% at $64.23, and pacing for its highest weekly close since November. Goldman upgraded its rating to "buy" from "neutral," and lifted its price target to $72 from $58, saying the company's frozen foods business will stay strong.

k stock price sept 6

On the losing end today is Slack Technologies Inc (NYSE:WORK), extending yesterday's earnings weakness. The shares are down 7.8% to $27.72, with price-target cuts to $37 from $43 at Stephens and $27 to $39 at Citigroup adding extra pressure -- though the stock has so far avoided yesterday's low of $26.

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