Dow Extends Losses as Oil Prices Resume Climb

Silver, platinum, and wheat are also on the rise

Digital Content Manager
Mar 10, 2022 at 11:53 AM
facebook X logo linkedin

The Dow Jones Industrial Average (DJI) is 449 points lower at midday, as oil prices resume their rally, alongside other commodities including silver, platinum, and wheat. The S&P 500 Index (SPX) and the Nasdaq Composite (IXIC) are swimming in red ink as well, as investors digest news that cease-fire negotiations between Russia and Ukraine didn't make much progress.

Worse-than-expected jobs data isn't helping sentiment, and neither is the consumer price index (CPI) for February, which showed inflation at a 40-year high. Elsewhere, the European Central Bank (ECB) announced it expects to cut its bond-buying program in the third quarter, just a week ahead of the highly anticipated Federal Reserve's March meeting. 

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

  • Safety directives blowing tailwinds for Boeing stock.
  • JD stock hit more annual lows after its earnings call.
  • Plus, options traders blast CRWD; unpacking Ebix's quarterly win; and why this apparel retailer is sinking.

MMC Stats 0310

CrowdStrike Holdings Inc (NASDAQ:CRWD) is seeing an unusual amount of options activity today. So far, 74,000 calls and 35,000 puts have already been exchanged, which is 10 times the intraday average. The 3/11 200-strike call is by far the most popular, with new positions being opened there. CRWD was last seen up 14.6% to trade at $194.51, after the company yesterday posted better-than-expected fourth-quarter profits and revenue, as well as an upbeat fiscal first-quarter forecast. The equity is drawing plenty of analyst notes, with an upgrade from BTIG to "buy" from "neutral," as well as four price-target hikes and three-price target cuts. On the charts, the security is eyeing its first close above the 80-day moving average since November.

CRWD 80 Day

One of the best performing stocks on the Nasdaq today is Ebix Inc (NASDAQ:EBIX). The equity was last seen up 33.1% to trade at $42.45, after the software name bested analysts' fourth-quarter earnings and revenue estimates. In turn, Craig-Hallum hiked its price objective to $100 from $75. Shares earlier surged to an annual high of $44.42, and are now eyeing their best single-day percentage gain since November 2020. Year-over-year, EBIX is up 43%.

At the bottom of the Nasdaq is Fossil Group Inc (NASDAQ:FOSL), last seen down 31.1% at $10.02. Today's drop came after the company yesterday posted a dismal 2022 forecast. Shares are now looking to close at their lowest level since January, after the equity yesterday ran into a familiar ceiling at the $14.50 level. Over the last 12 months, FOSL has shed 45.5%.


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI