Stocks Struggling for Direction After Target Warning

A cooling 10-year Treasury yield is keeping losses in check

Digital Content Manager
Jun 7, 2022 at 11:54 AM
facebook twitter linkedin


The Dow Jones Industrial Average (DJI) is slightly below breakeven at the midway mark, last seen down 12 points. Meanwhile, the S&P 500 Index (SPX) is flat, and the Nasdaq 100 Index (NDX) is modestly higher. This sideways price action comes after Target's (TGT) short-term profit warning.

Meanwhile, the 10-year Treasury yield dropped back below 3%, likely keeping some of these losses in check. Investors are also keeping an eye oil prices, as they weigh supply shortages against rising demand amid China's easing Covid-19 restrictions. U.S. West Texas Intermediate (WTI) crude futures were last seen down 0.2% at $118.29 . 

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

  • This surging oil stock is still a bargain, says analyst. 
  • Dave & Buster's stock breaks higher after a top- and bottom-line beat. 
  • Plus, options traders target AMZN after stock split; JAN topples key trendline; and e-commerce name to join RUT.
stats jun 7 

Amazon.com, Inc. (NASDAQ:AMZN) is seeing an unusual amount of options activity today. So far, 555,000 calls and 321,000 puts have crossed the tape, which is four times the intraday average. Most popular is the 6/10 130-strike call, followed by the 125-strike call in the same weekly series. The stock was last seen down 2.5% at $121.61, cooling from yesterday's 2% pop following its 20-for-1 stock split. So far this year, AMZN is down 26.6%.

One of the best performing stocks on the Nasdaq today is Janone Inc (NASDAQ:JAN). The security was last seen up 43.6% to trade at $3.59, after announcing that it received a U.S. patent for its potential treatment of peripheral artery disease (PAD) JAN101. JAN is set to log its second close above the 150-day moving average since August, but is still down 14.1% this year. 

jan jun 7

Meanwhile, towards the bottom of the Nasdaq is Boxed Inc (NYSE:BOXD), last seen off 24.3% at $4.20. It was recently announced that the stock will enter the Russell 2000 Index (RUT) on Monday, June 27. BOXD has shed 69.3% so far in 2022, and earlier fell to a record low of $4.06. 

 

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 JULY STOCKS REPORT AD
 


 


 
Special Offers from Schaeffer's Trading Partners