Dow Soars Over 900 Points; Nasdaq Over 600

Consumer price index (CPI) data has investors feeling hopeful about inflation

Deputy Editor
Nov 10, 2022 at 11:45 AM
facebook X logo linkedin

Inflation data for October is sending stocks to the moon today, with the Dow Jones Industrial Average (DJI) up 932 points at midday, while the Nasdaq Composite Index (IXIC) and S&P 500 Index (SPX) eye their own massive gains. The Dow is heading toward its best single-session gain since June 2020, while the S&P 500 and Nasdaq cruise toward their best month since April 2020.

The consumer price index (CPI) for October rose 0.4% for the month and 7.7% year-over-year, which is lower than the 0.6% and 7.9% anticipated by analysts, while core CPI data came in below expectations as well. Investors are hopeful that this means inflation has peaked, and bond yields are diving lower in response, with the 10-year Treasury yield dropping below the key 4% level. 

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

  • Target makes plans for bigger and better retail stores
  • Unpacking the AstraZeneca stock bull gap. 
  • Plus, options traders blast Unity Software stock; APPS soars after earnings; and VERU plummets on FDA rejection. 

MMC Nov10

Unity Software Inc (NYSE:U) is the most popular stock amongst options traders today,  following its upbeat third-quarter results. So far, 28,000 calls and 30,000 puts have been exchanged -- six times the intraday average amount. The January 2023 20-strike put is the most popular, followed by the 17.50 put in the same standard series. At last glance, U was up 29.8% at $27.90, bouncing off yesterday's record low of $21.22, though the stock is still seeing pressure from its 20-day moving average. 

U Nov10

Digital Turbine Inc (NASDAQ:APPS) is one of the top performers on the Nasdaq today, up 46.3% to trade at $15.76 at last glance, after the software name's fiscal second-quarter earnings beat and raised full-year forecast. The stock is brushing off two bear notes, after Craig-Hallum cut its price target to $30 from $60, while Oppenheimer slashed its to $17 from $19. Today's pop has APPS rising from last session's two-year low of $10.65. Year-to-date, the equity is still down 74%. 

Meanwhile, Veru Inc (NASDAQ:VERU) is sitting out the rally today, down 53.9% at $6.92 at last glance, after the U.S. Food and Drug Administration (FDA) voted against the company's Covid-19 drug. Jefferies downgraded the stock to "underperform" from "buy" after the news, while H.C. Wainwright slashed its price target by $3 to $21. Year-to-date, VERU is still up 15.4%. 


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