The Dow is around 55 points higher this afternoon
Stocks are now sporting slim gains as Wall Street continues to unpack today's producer price index (PPI) reading. At last check, the Dow Jones Industrial Average (DJI) is 55 points higher, while both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) trade in the black. Elsewhere, the 2-year Treasury yield hit 3.80% earlier today -- its highest level since November 2007.
Continue reading for more on today's market, including:
- Berenberg says this pharma stock is a "low-risk value option."
- Is it time to buy this consumer lending name?
- Plus, Moderna calls pop on vaccine buzz; United Airlines invests in Eve; and MOGU extends penny stock run.
Moderna Inc (NYSE:MRNA) is seeing an uptick in bullish options activity today, with 23,000 calls crossing the tape near the session's halfway marker -- four times the intraday average volume. Most popular is the September 140 call, where positions are being opened. Last seen up 5.8% to trade at $138.94, the pharmaceutical concern is getting a boost after the company's CEO announced Moderna would consider sending Covid-19 vaccines to China. Down 46.4% year-to-date, MRNA's positive price action today is being kept in check by the 20-day moving average, while a floor seems to have formed at the $130 level.
At the top of the New York Stock Exchange (NYSE) today is Eve Holding Inc (NYSE:EVEX), last seen up 11.3% to trade at $9.69. Giving the equity a boost today is United Airlines' (UAL) $15 million investment in Eve, of which, it will purchase 200 air taxis. Shares are now trading at their highest level since mid-July, though the security still sports a roughly 8% year-to-date deficit.
Meanwhile, sitting at the bottom of the NYSE is Mogu Inc (NYSE:MOGU). The equity is down 14.5% to trade at $2.24 at last check, extending its 2022 rut in penny stock territory after announcing its $10 million stock buyback program. The shares have traded below $5 for the majority of the year, and are now saddled with a 50% year-to-date loss.