Major Benchmarks Higher, Headed for Weekly Wins

The 10-year Treasury yield briefly dipped below 4%

Deputy Editor
Mar 3, 2023 at 12:15 PM
facebook X logo linkedin


Stocks are higher as the end of the week approaches, with the Dow Jones Industrial Average (DJI) up 159 points, as all three major indexes head for weekly wins. Investors are keeping an eye on bond yields, particularly the 10-year Treasury yield, which briefly dipped below 4%. Also in focus is the Institute of Supply Management's (ISM) services purchasing managers' index (PMI), which came in at 55.1% for February, above estimates of 54.3%.

  • Options traders targeting Costco stock's post-earnings slide. 
  • What pushed First Solar stock to a 14-year high today. 
  • Plus, MRVL sees options surge; AI soars on strong forecast; and BMRA hits three-year low. 

MMC Mar3

Options traders are targeting Marvell Technology Inc (NASDAQ:MRVL), as the company slides following a disappointing current-quarter forecast. Plus, no fewer than 12 analysts cut their price targets after the tech name's mixed fourth-quarter report. So far, 48,000 calls and 48,000 puts have been traded , which is seven times the intraday average amount. The March 45 call is the most active contract, followed by the April 35 put, with positions opening at the latter. MRVL was last seen down 8.5% at $42.30, though its 100-day moving average appears to be providing support amid today's pullback. 

MRVL Mar3

C3.ai Inc (NYSE:AI) is up 27.4% at $27.14 at last glance, after the company's better-than-expected fiscal third-quarter results. Wedbush raised its price target to $24 from $13 in response, while two other analysts also chimed in with price-target hikes. More artificial intelligence (AI) stocks are enjoying a boost, as traders bet on growth after C3.ai's upbeat forecast. Year-to-date, the equity is up 140.3%. 

Meanwhile, Biomerica Inc (NASDAQ:BMRA) is down 17.2% at $2.30, and on the short sale restricted (SSR) list, after the biomedical concern priced the $8 million underwritten public offering of its common stock at $2.40 per share. Now trading at its lowest level since March 2020, BMRA is down 44.3% year-over-year. 

 

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