Wall Street Increasingly Wary of Hawkish Fed

This morning's inflation data is still in focus

Deputy Editor
Feb 16, 2023 at 12:02 PM
facebook X logo linkedin

This morning's hotter-than-expected inflation data and a drop in weekly jobless claims have investors fretting over potential interest rate hikes. What's more, Cleveland Federal Reserve President Loretta Mester said she saw a "compelling case" for a 50-basis-point increase at the committee meeting in January. The Dow Jones Industrial Average (DJI) is off 231 points at last glance, while the S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) sit firmly in the red as well. 

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

  • Virgin Galactic stock extends gains after test flight. 
  • Shopify stock is plummeting after dismal forecast
  • Plus, options bulls target CSCO; TA pops on buyout buzz; and RNG downgraded. 

MMC February16

Options bulls are blasting Cisco Systems Inc (NASDAQ:CSCO), after the company's strong fiscal second-quarter results. No fewer than 12 analysts hiked their price targets, with shares last seen 5.2% higher to trade at $50.98. So far, 136,000 calls have crossed the tape -- eight times the intraday average volume -- compared to just 48,000 puts. The February 51.50 call is the most active, with new positions opening there. On the charts, Cisco stock is looking to settle above the 320-day moving average for the first time since April.

CSCO Feb16

Travelcenters of America Inc (NASDAQ:TA) is at the top of the Nasdaq today, up 70.8% at $84.42 at last glance, and trading at its highest level since 2015. This surge comes after news that BP (BP) will acquire the company for approximately $1.3 billion. Year-over-year, the equity is up 106.8%.  

Meanwhile, the New York Stock Exchange's (NYSE) RingCentral Inc (NYSE:RNG) is down 23% at $37.26. The software name reported disappointing fourth-quarter results, with Evercore ISI lowering RNG's rating to "in line" from "outperform," while five other analysts chimed in with price-target adjustments. Year-over-year, the equity is down 77.3%.


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 C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI