Dow Slips as Nasdaq, Small-Caps Score Records

All eyes are on Jerome Powell and the Fed

Managing Editor
Nov 3, 2021 at 12:09 PM
facebook twitter linkedin

Stocks are a mixed bag midday, with all eyes on the Federal Reserve meeting about to conclude. Ahead of remarks from Fed Chair Jerome Powell, investors are eager for clues regarding the timeline of scaling back the bond-buying program, as well as when interest rate hikes could occur.

The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) were last seen in the red, while the Nasdaq Composite (IXIC) and small-cap Russell 2000 Index (RUT) earlier hit intraday record highs and are clinging to midday gains. Elsewhere, ADP private payrolls increased by a wider-than-expected margin in October, the best month since June.

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

  • Here's how options traders are playing the Pfizer news. 
  • It's not looking good for Zillow Group stock.
  • Plus, American Airlines options pits bubble; Beyond Meat cheers the McPlant; and the worker strike weighing on Deere stock. 

MMC Table Nov 3

American Airlines Group Inc (NASDAQ:AAL) is seeing a surge in options activity today. At last check, over 120,000 calls have changed hands, volume that's triple the average intraday amount. The airline stock was last seen up 3.8% to trade at $20.58, brushing off yesterday's mass cancellations. 

Near the top of the Nasdaq today is Beyond Meat Inc (NASDAQ:BYND), up 7.8% to trade at $106.96, at last check. The popular vegan brand is climbing as McDonald's (MCD) rolls out the McPlant burger, which features Beyond Meat patties. BYND is down 15% in 2021, and today's breakout is facing off with the stock's descending 40-day moving average.

MMC Stock Chart BYND

Deere & Company (NYSE:DE) is near the bottom of the New York Stock Exchange (NYSE) today, last seen down 5.3% to trade at $336.58. The drop comes as factory workers continue a three-week-long strike amid a contract dispute between Deere and the United Auto Workers (UAW) union. DE remains up 25% in 2021.


If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Schaeffer's Investment Research Master Portfolio Trial


Special Offers from Schaeffer's Trading Partners