Stocks Inch Higher as Dow Looks to Snap Skid

Weekly jobless claims are a positive today

Digital Content Manager
Sep 9, 2021 at 11:55 AM
facebook X logo linkedin


The Dow Jones Industrial Index (DJI) is up 68 points midday and on track to snap a three-day losing streak. The blue-chip index was comfortably in triple-digits at its session highs, but has since trimmed those gains amid some lingering investor caution. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are both struggling for direction, despite this week's jobless claims data, coming in at a better than expected 310,000 figure.

An update from Moderna (MRNA) on the development of a combination Covid-19 and flu shot brings good news on the pandemic front, though the economy is far from in the clear. The airline sector is still skittish, with many big names lowering their financial estimates.

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

  • What went wrong with GameStop stock after earnings. 
  • Macy's stock looks ready to stage a bounce. 
  • Plus, PTON jumps on the athleisure train; upbeat results boost RKLB; and FDA rejects HGEN's Covid-19 drug. 

Snag_110d010a

Peloton Interactive Inc (NASDAQ:PTON) is up 5% at $102.52 at last check, following news the fitness company will launch a private label clothing brand, Peloton Apparel, starting this fall, with items available online and in stores globally. Options traders are paying attention, with 32,000 calls across the tape -- four times the intraday average -- compared to 13,000 puts. Most popular is the weekly 9/10 105-strike call, followed by the 100-strike call in the same weekly series, with new positions being opened at both. 

One of the best performing stocks on the Nasdaq today is Rocket Lab USA Inc (NASDAQ:RKLB), which is up 18.8% at $17.98 at last check, after the aerospace company reported upbeat financial results for the first half of 2021, including an impressive 237% year-over-year rise in revenue, and growth margin expansion from a negative 67% to a positive 13%. The stock is up 33% this week, pacing for its biggest one-week jump on record and sixth daily win. RKLB is trading at its highest level since going public last November. 

Humanigen Inc (NASDAQ:HGEN) is one of the worst-performing stocks on the Nasdaq today, last seen down 53.2% to trade at $7.07. Several analysts are issuing bear notes after the U.S. Food and Drug Administration (FDA) rejected emergency use of the company's Covid-19 drug, lenzilumab. The equity is trading at its lowest level in over a year. The stock has been facing off with pressure from several trendlines, including its 80-day moving average, and now sports a 58.8% year-to-date deficit. 

hgen chart sept  9

 

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