S&P 500, Nasdaq Look to Extend Monthly Win Streaks

Meanwhile, home prices broke annual records in June

Deputy Editor
Aug 31, 2021 at 12:14 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJI) is up 36 points midday, while the S&P 500 Index (SPX) is flat, and the Nasdaq Composite (IXIC) sits quietly in the red, as Zoom Video (ZM) weighs on the tech-heavy benchmark. All three major indexes are on track for monthly gains, with the SPX pacing for its seventh-straight monthly win, while the Nasdaq is pacing for its third-straight monthly win.

Meanwhile, the Case-Shiller national home price index showed home prices added 18.6% annually in June -- the largest annual gain since its inception in 1987. Elsewhere, the Pentagon said the U.S. completed evacuation efforts at Kabul airport, with President Joe Biden set to address the nation this afternoon in regards to his decision to end the war in Afghanistan. 

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

  • Space travel name flies on fresh analyst coverage
  • Blowout earnings boosts Designer Brands stock.
  • Plus, options traders target GSAT; AZRE surges after earnings; and ZM pacing for worst day since November.

MMC 0831

Globalstar Inc (NYSE:GSAT) is seeing heightened options activity today, as the stock corrects from yesterday's massive bull gap, which came after news that Apple's (AAPL) iPhone 13 will be able to utilize satellite communications. At last check, GSAT is down 17.7% at $1.94. So far, 66,000 calls and 12,000 puts have crossed the tape, which is six times what is typically seen at this point. The September 2.50 call is by far the most popular option. Year-over-year, Globalstar stock sports a whopping 477.6% lead.

Azure Power Global Ltd (NYSE:AZRE) is surging today, up 17.9% at $23.01 at last check, after the company's fiscal first-quarter results. The solar power producer name earnings of 20 cents per share -- better than analysts' estimates of 2 cents per share -- as well as a revenue beat, as quarterly profits soared compared to last year. The equity has struggled with overhead pressure at the 130-day moving average since February, and is off 43.5% year-to-date.

AZRE mmc

Meanwhile, Zoom Video Communications Inc (NASDAQ:ZM) is on track for its worst day since November, last seen down 16.2% to trade at $291.07. Though the company reported better-than-expected second-quarter earnings, there is hesitance surrounding its future success, as the video conferencing name announced a faster-than-expected slowdown in demand, and a worse-than-anticipated third-quarter outlook. To follow, no fewer than seven analysts cut their price targets. Quarter-to-date, ZM has shed 24.5%.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI