The Dow is down 149 points midday
The Dow Jones Industrial Index (DJI) is giving up its earlier gains, last seen down 149 points, as investors fail to shake off the economic uncertainty that's blanketed the holiday-shortened week. The S&P 500 Index (SPX) is also slipping, and both indexes are headed for modest weekly losses. The Nasdaq Composite (IXIC), meanwhile, is clinging to gains, but is also looking at a loss for the week. The growth in Covid-19 cases is worrying Wall Street, while hot inflation data is also raising alarm bells. Meanwhile, the Cboe Volatility Index (VIX) is on the rise, and set to log its second-straight weekly win.
Continue reading for more on today's market, including:
- What sank Zumiez stock after earnings.
- Analysts are bombarding Affirm stock with bull notes today.
- Plus, options traders cheer ATER's big month; ISEE upgraded; and a drug stock breaches key trendline.
Aterian Inc (NASDAQ:ATER) is seeing an uptick in options activity today. The stock was last seen up 18.6% at $12.07 as social media-driven retail investors zero in. The equity is pacing for its fifth-straight win, and has already doubled in September. So far, 43,000 calls and 5,077 puts have crossed the tape -- four times the intraday average. The most popular is the September 12.50 call, followed by the 10 call in the same series, with new positions being bought to open at the former.
IVERIC bio Inc (NASDAQ:ISEE) is one of the best performing stocks on the Nasdaq today. The equity was last seen up 67.2% at $14.53, following fresh coverage from Stifel, which started with a "buy" rating and a $22 price target -- a 153.2% premium to last night's close. ISEE is set to log its highest close since its massive bear gap in late 2016, and toppled recent pressure are the $11 level. ISEE is now up 113.8% year-to-date.
Apellis Pharmaceuticals Inc (NASDAQ:APLS) is one of the worst stocks on the Nasdaq today, last seen down 47.7% at $29.06. The drug stock is plummeting on news that Phase 3 trials for its eye disease treatment did not meet its main goal. The stock is trading at its lowest level in almost a year, breaching its 140-day moving average, which captured two sharp pullbacks in the past few weeks.
