Dow Rally Appears Short-Lived as Index Drops Triple Digits

Stocks are brushing off this morning's better-than-expected inflation data

Deputy Editor
Sep 14, 2021 at 11:59 AM
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The Dow Jones Industrial Index (DJI) has given up all of its earlier gains at midday, last seen down 192 points, as investors brush off a lower-than-expected jump in inflation for August, and look toward a potential tapering decision from the Federal Reserve. Plus, last month's dismal jobs report has been pressuring the markets since its release. The S&P 500 Index (SPX) has also turned negative, while the Nasdaq Composite (IXIC) is just below breakeven this afternoon.  

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

  • Crypto name moves higher on billion-dollar debt offering.
  • What the brokerage bunch had to say about Oracle stock.
  • Plus, why FCEL is surging; stock offering sinks VRPX; and KPLT calls are flying off the shelves.  

midday stats sept 14

One of the best performers on the Nasdaq is FuelCell Ennergy Inc (NASDAQ:FCEL). The security was last seen up 22.4% at $6.88, after the the company reported slimmer-than-expected fiscal third-quarter losses of 4 cents per share. FCEL is up an impressive 205% in the past 12 months, and is headed for its first close above the 50-day moving average since mid-June. 

FCEL 50 Day

Virpax Pharmaceuticals Inc (NASDAQ:VRPX) is one of the worst performing stocks on the Nasdaq today. The security is down 37.2% at $6.12 at last check, after the company priced the underwritten public offering of 6.67 million shares of its common stock at $6 per share, amounting to roughly $40 million. VPRX is still up 35.8% this quarter, but is now trading at its lowest level in nearly a month, which is a ways off from its Aug. 18 record peak of $36. 

Katapult Holdings Inc (NASDAQ:KPLT) is seeing an influx of bullish options volume today, with 33,000 calls across the tape so far, which is three times the intraday average, and more than 30 times the number of puts traded. Most popular is the September 7.50 call, followed by the October 7.50 call. KPLT is up 4.1% at $8.59 at last check, despite news a shareholder class action lawsuit has been filed against the company. It is also worth noting the equity is on the Short Sale Restricted (SSR) list today. 

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