Major Indexes Struggle for Direction After Inflation Report

Higher-than-expected wholesale data is keeping the indexes in check

Digital Content Manager
Dec 9, 2022 at 11:49 AM
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The major indexes are trying to claw back from this morning's fall, prompted by a higher-than-anticipated producer price index (PPI) for November. At last check, the Dow Jones Industrial Average (DJI) was slightly higher, after earlier dropping over 100 points, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) both inched into the black as well. All three indexes are eyeing weekly losses, however, specifically the Dow, which is headed toward its biggest weekly drop since September.  

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

  • 2 analysts are pricing in major upside for Netflix stock. 
  • Crypto giant to avoid, according to Mizuho.
  • Plus, BILI at multi-month highs; AMAM up over 500%; and PHVS rally cools off. 

mmc stats dec 9

Bilibili Inc - ADR (NASDAQ:BILI) is being targeted by options player today as U.S.-listed Chinese stocks continue to rise on reopening rumors. At last glance, BILI was seen up 10.7% at $25.90, marking its highest level since late August. So far, 22,000 calls and 11,000 puts have been exchanged, which is double the intraday average. The most popular position is the weekly 12/9 30-strike call, followed by the 27-strike call in the same series, with positions being opened at both.

The best performing stock on the New York Stock Exchange (NYSE) by far is Ambrx Biopharma Inc - ADR (NYSE:AMAM). The equity was last seen up 551.2% at $2.67, after the company's breast cancer drug showed promise during its mid-stage trial. While AMAM remains deep in penny stock territory and suffers a 72.3% year-to-date deficit, it's trading atop its 100-day moving average for the second time ever, and could close above the trendline for the first time since its formation. 

amam dec 9

Pharvaris NV (NASDAQ:PHVS) is one of the worst performing stocks on the Nasdaq today, down 13.7% aHTMLt $9.89 at last glance. The stock is cooling from yesterday's surge, after it added 356.6% on the back of upbeat results for a mid-stage study of its hereditary angioedema (HAE) treatment. While its rally looks to have lost steam near the 120-day moving average, PHVS is still headed for a more than 400% weekly win, marking its best on record. 



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