Dow Plummets After Hotter-Than-Expected CPI Reading

The CPI reading came in above Wall Street's expectations

Deputy Editor
Feb 14, 2023 at 11:59 AM
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Stocks are lower midday, after this morning's consumer price index (CPI) reading for January came in slightly hotter than expected, sparking fears that the Federal Reserve will maintain its hawkish stance. The Dow Jones Industrial Average (DJI) is 379 points lower, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are firmly in the red as well.

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

  • Options traders are all over Coca-Cola stock.
  • Is this oil stock underappreciated? 
  • Plus, 3 stocks on the move after earnings.

Midday Market Stats 2 February 142023

Options traders are blasting Palantir Technologies Inc (NYSE:PLTR), after the tech concern reported top- and bottom-line beats for the fourth-quarter. So far, 259,000 calls and 107,000 puts have crossed the tape, or six times the intraday average volume. Most popular is the February 9 call, with new positions opening there. Last seen 13.3% higher at $8.60, Palantir stock now boasts a 35.5% year-to-date lead.

The New York Stock Exchange's (NYSE) WESCO International, Inc. (NYSE:WCC) is up 7.6% at $164.86 at last check, after announcing better-than-expected fourth-quarter earnings and revenue. The security earlier scored a fresh all-time high of $166.76, and boasts a 33% year-over-year lead.

WCC Chart February 142023

Meanwhile, Endava PLC - ADR (NYSE:DAVA) is down 15.6% to trade at $74.51 at last glance, after the company missed fiscal second-quarter earnings expectations. Today's bear gap has DAVA trading at its lowest level since early January, while adding to its 41% year-over-year deficit. 

 

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