Stocks Choppy as Retail Sector Remains in Focus

Home builder sentiment dropped once again in November

Deputy Editor
Nov 16, 2022 at 12:05 PM
facebook X logo linkedin

Stocks are sluggish midday, with the Nasdaq Composite (IXIC) down triple digits at last check. After trading on both sides of the aisle this morning, the Dow Jones Industrial Average (DJI) was last seen higher but is struggling for direction. The S&P 500 is moving marginally lower, weighed down by Target's (TGT) negative impact on the retail sector. 

Investors are still unpacking this morning's import price index and retail sales data. There's also the National Association of Home Builders’ (NAHB) monthly confidence index for November, which fell 5 points to a reading of 33 -- its 11th-straight monthly drop and lowest level since June of 2012. 

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

MMC Nov16 New

Options bears are blasting Kohl's Corporation (NYSE:KSS) today, as the retail stock drops alongside its peers amid its own dismal current-quarter sales forecast -- down 7.5% at $29.62 at last glance. So far, 37,000 puts have been exchanged -- 25 times the intraday average -- in comparison to 2,209 calls. The December 25 put is the most popular, with new positions being opened there. Year-over-year, KSS is down 49.1%. 

KSS Nov16

InMed Pharmaceuticals Inc (NASDAQ:INM) is at the top of the Nasdaq today, last seen up 66.5% at $4.64, after the biotech company started a program that will study the affects of cannabinoids on nerve diseases. INM dipped into penny stock territory just last month, and is currently down 86.4% year-to-date. 

Meanwhile, Carvana Co (NYSE:CVNA) is crashing, down 13.2% at $8.61 at last glance. Wedbush today cut its price target to $9 from $12, just a day after Oppenheimer downgraded the stock "perform" from "outperform." Plus, Advance Auto Parts' (AAP) post-earnings plummet could be weighing on the shares as well.  Year-to-date, CVNA is down 36.8%. 


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