Stocks Rise as Bond Yields Fall; Investors Await Economic Data

The 10-year Treasury yield is back below 4%

Deputy Editor
Mar 6, 2023 at 11:41 AM
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Wall Street is starting the week higher, as investors look ahead to upcoming economic data and new commentary from the Federal Reserve. The Dow Jones Industrial Average (DJI) and Nasdaq Composite Index (IXIC) are up over 125 points, while the S&P 500 Index (SPX) sits higher as well. Bond yields are retreating, with the 10-year note moving back below 4%.

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  • Plus, Roku calls pop; BBIO soars on positive trial data; and Chinese education stock takes a step back. 

Midday Market Stats March 62023

Call traders are targeting Roku Inc (NASDAQ:ROKU), though there doesn't seem to be a clear catalyst. So far, 34,000 calls have been traded, which is double the intraday average amount. Most popular by far is the weekly 3/10 75-strike call, where new positions are being opened. Shares of the streaming staple were last seen up 2.8% at $67.48, and tacking onto an impressive 65% year-to-date lead.

ROKU Chart March 62023

BridgeBio Pharma Inc (NASDAQ:BBIO) is up 62.9% at $17.71 at last glance, standing at the top of the Nasdaq, after the company shared positive mid-stage data for its investigational therapy infigratinib -- a potential treatment for achondroplasia, a form of dwarfism. The stock is trading at its highest level since December 2021, and now stands more than 130% higher year-to-date and year-over-year.

Shares of China-based online education platform TAL Education Group (NYSE:TAL) are down 4.5% at $7.78, and trading near the bottom of the New York Stock Exchange (NYSE). This comes after China set a modest 2023 growth target of around 5%. Still, year-to-date, TAL Education stock is 7% higher.


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