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
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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. 

 

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