Nasdaq Up Triple Digits as Investors Flock Towards Tech

Investors are preparing for the FOMC's latest meeting minutes

Deputy Editor
Apr 4, 2022 at 12:06 PM
facebook X logo linkedin


Markets are mixed this afternoon, with the Dow Jones Industrial Average (DJI) trading flat, while the S&P 500 Index (SPX) sports muted gains. Meanwhile, the Nasdaq Composite (IXIC) boasts a triple-digit lead, as investors shrugged off recent recession fears and made a break to buy battered tech stocks. The bond market continues to be an area of interest, while investors are also looking ahead to the Federal Open Market Committee's (FOMC) meeting minutes release, out later this week. In other news, West Texas Intermediate Crude (WTI) moved back above $100 per barrel, as traders monitor developments in Ukraine.

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

  • A look at Twitter's stock after Elon Musk declares massive stake. 
  • 2 China-based stocks benefitting from possible regulatory revisions. 
  • Plus, call traders target PINS; JMIA pops on UPS partnership; and a mining stock falling from all-time highs.

Midday Market Stats April 4_2022

One stock seeing an unusual amount of options activity is Pinterest Inc (NYSE:PINS). Social media stocks are enjoying some tailwinds amid news of Elon Musk's more than 9% passive stake in Twitter (TWTR). PINS was last seen 8.7% higher to trade at $26.93. So far today, 62,000 calls and 22,000 puts have crossed the tape, which is four times the intraday average. Most popular is the weekly 4/22 24-strike put, followed by the 4/22 31-strike call in the same weekly series, with new positions being opened at both. Though recovering from multi-year lows near the $22 area, the $27 level is still acting as a ceiling for Pinterest stock, and the shares continue to face pressure from the descending 60-day moving average. In the last 12 months, PINS has shed 65.6%.

PINS Chart April 4

Jumia Technologies AG (NYSE:JMIA) is one of the best performing stocks on the New York Stock Exchange (NYSE) so far today. The equity was last seen 27.2% higher to trade at $12.06, after announcing a partnership that will allow UPS to improve its delivery services in Africa. Jumia Technologies stock is trading back above its 100-day moving average for the first time in over a year, and now sports a 6.5% year-to-date lead. In the last 12 months, however, JMIA is off by nearly 68%.

Alpha Metallurgical Resources Inc (NYSE:AMR) is one of the worst performing stocks on the NYSE, last seen down 7.2% at $125.17. Though the catalyst for the coal concern's dip is unclear, the shares did just recently notch an all-time high of $139.36 on March 30, after steadily recovery from a November 2021 rout. Further, AMR still maintains a strong 106.5% year-to-date lead.

 

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