Stocks Move Higher Midday, Still Pacing for Weekly Losses

The VIX is eyeing its fourth-straight weekly win

Digital Content Manager
Jan 28, 2022 at 12:06 PM
facebook X logo linkedin


Stocks are continuing their rollercoaster pattern midday, as Wall Street attempts to lift itself out of the worst selloff since March 2020. The Dow Jones Industrial Average (DJI) is up a modest 66 points, but was off triple digits at its session lows. Meanwhile, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) remain in correction territory, though both sport solid gains at last check. Nevertheless, all three indexes are looking to extend their weekly losing streaks, while the Cboe Volatility Index (VIX) heads toward its fourth consecutive weekly win.

Injecting optimism into the market today is a better-than-expected earnings report from Apple (AAPL), as well as upbeat consumer spending data for December. Meanwhile, the core Personal Consumption Expenditures (PCE) prices index surged to its highest level since 1983.

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

  • Record-breaking revenue pushes Apple stock higher.
  • Robinhood stock hits new low after issuing grave warning.
  • Plus, options bears blast TSP; CLFD enjoys post-earnings surge; and EWTX bottoms out.

 MMC Stats 0128

Tusimple Holdings Inc (NASDAQ:TSP) is seeing an unusual amount of bearish options activity today. So far, 17,000 puts have crossed the tape -- 19 times the intraday average -- compared to just 100 calls. Most popular is the March 10 put, followed by the 14 put in the same series, with new positions being opened at both. TSP was last seen down 1.6% to trade at $15.65, and earlier fell to a record low of $14.92, with no catalysts immediately apparent. The shares' 10-day moving average has kept a lid on TSP for most of January. Over the past nine months, shares have shed 60.7%.

TSP 10 Day

Towards the top of the Nasdaq today is Clearfield Inc (NASDAQ:CLFD), last seen up 13.2% at $55.05. Today's pop came after the company reported better-than-expected fiscal first-quarter earnings and revenue, and raised its annual guidance. The shares have pulled back quite dramatically from a Dec. 30, all-time high of $86.70. Year-over-year though, CLFD sports a  64.3% lead.

Edgewise Therapeutics Inc (NASDAQ:EWTX) is one of the worst performers on the Nasdaq, last seen down 15% to trade at $11.71. While there is no clear reason for this negative price action, the broader market selloff could be weighing on the shares. EWTX earlier fell to an all-time low of of $11,50, and are down 58.8% year-over-year.

 

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