Stocks Roar Back to Life Despite Alarming Jobs Data

Investors are buying back into the tech sector today

Digital Content Manager
Jan 20, 2022 at 11:58 AM
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Stocks are staging a massive comeback today, with the Dow Jones Industrial Average (DJI) last seen up 428 points midday. Investors are brushing off rising bond yields and worse-than-expected weekly jobless claims, as they work through another batch of earnings reports. Both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are sporting solid midday gains as well, as traders buy back into the recently battered tech sector.

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

  • Signet Jewelers stock pops on upbeat forecast.
  • 2 airline stocks getting blasted in the options pits.
  • Plus, LAZR calls running red-hot; APM pops on new drug designation; and the China stock at all-time lows.

MMC Stats 0120

Luminar Technologies Inc (NASDAQ:LAZR) is seeing an uptick in options volume today, after the company announced a partnership with Mercedes-Benz to enable fully automated driving for next-generation vehicles. So far, 30,000 calls and 7,288 puts have been exchanged, volume that's eight times the intraday average. Most popular is the February 20 call, where positions are now being opened. LAZR was last seen up 14.7% at $15.43, bouncing off yesterday's annual low of $13.42 and reclaiming the $14-$15 channel that has served as support since August. Year-over-year, LAZR has shed 52.8%.

LAZR MMC

Aptorum Group Ltd (NASDAQ:APM) is one of the best stocks on the Nasdaq today, last seen up 33.6% at $1.63. The company announced earlier the U.S. Food and Drug Administration (FDA) has granted orphan drug designation to its SACT-1 treatment for neuroblastoma patients. The shares are bouncing from yesterday's all-time low of $1.19, but longer term, maintain a 60.4% year-over-year deficit.

Towards the bottom of the Nasdaq is China Finance Online Co. (NASDAQ:JRJC).The security is down 36.2% at $4.13 at last check, after receiving a delisting notice from the index. JRCJ earlier dropped to a fresh all-time low of $3.25, and is now pacing for its lowest close since August.

 

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