Stocks Extend Losses as Retail Sales Remains in Focus

Oil prices are retreating following uptick in supply

Deputy Editor
Feb 15, 2023 at 11:59 AM
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Retail sales data is front and center today, as investors consider what it could mean for the Fed's disinflation efforts. The Dow Jones Industrial Average (DJI) is firmly lower at midday, while the S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) sit modestly in the red. Meanwhile, oil futures are falling after the U.S. posted an uptick in crude supplies. 

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

  • Behind this crypto stock's jump. 
  • What made Upstart stock soar after earnings. 
  • Plus, options traders target ABNB's surge; RBLX jumps after bookings beat; and CRDO eyes worst day ever. 

MMC Feb15

Options traders are blasting Airbnb Inc (NASDAQ:ABNB) after the company's upbeat fourth-quarter earnings report and strong forecast, after which a host of analysts lifted their price targets. So far, 103,000 calls and 80,000 puts have crossed the tape, which is seven times the intraday average volume. The February 135 call is the most popular by far, with new positions opening here. At last check, ABNB is up 12.7% at $136.18, and trading at its highest level since May. Today's pop also has the security breaking above its 320-day moving average. 

ABNB Feb15

The New York Stock Exchange's (NYSE) Roblox Corp (NYSE:RBLX) is up 23.1% at $43.94 at last glance, after the company's fourth-quarter bookings beat estimates. Today's pop has RBLX trading at its highest level since November. Year-to-date, the equity is up 55.1%. 

Meanwhile, Credo Technology Group Holding Ltd (NASDAQ:CRDO) is headed for its biggest one-day percentage drop ever, down 46.5% at $10.34 at last check. The company posted a disappointing forecast after a top customer cut its orders. Plus, Cowen and Company downgraded the stock to "market perform" from "outperform," while no fewer than five other analysts slashed their price targets. CRDO is still up 6% in the past nine months. 


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