Stocks Turn Lower as Jobs Data Weighs

Job openings fell below 10 million for the first time in almost two years

Deputy Editor
Apr 4, 2023 at 12:09 PM
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The Dow Jones Industrial Average (DJI) is down 201 points at midday, looking to snap a four-day win streak. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are firmly lower as well, with the former also headed for its first loss in five days. Signs of a slowing labor market are weighing on the benchmarks today, as job openings fell to 9.93 million in February, well below analyst expectations of 10.4 million and the first reading below 10 million since May 2021. 

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

  • Options bulls target Etsy stock after upgrade. 
  • Behind Boeing stock's bear note today. 
  • Plus, soaring CDLX attracts options traders; BFRG at the top of the Nasdaq; and AMC plummets. 

MMC Apr4

Options traders are blasting soaring Cardlytics Inc (NASDAQ:CDLX) after the company raised its first-quarter revenue forecast. So far, 8,702 calls and 1,005 puts have been exchanged, which is already 25.9 times the usual daily volume. The April 7.50-strike call is the most popular, followed by the 5-strike call, with new positions opening at both. CDLX is up 50.1% at $5.18 today, though still down 10.4% since the start of the year. Its 140-day moving average appears to be keeping gains in check. 

CDLX April4

Biotech stock Bullfrog AI Holdings Inc (NASDAQ:BFRG) is at the top of the Nasdaq today, up 54.4% at $7.24 at last check, after the company's agreement with Johns Hopkins University Applied Physics Laboratory (APL) for the use of its bfLEAP platform. Publicly traded since February, BFRG is up 108.3% in just the last week. 

The shares of AMC Entertainment Holdings Inc (NYSE:AMC) are down 21.4% at $4.01 at last glance, after a lawsuit settlement. Trading at its lowest levels since the start of the year, AMC is currently below all notable short- and long-term daily moving averages. Year-over-year, the equity is down 71.5%. 
 

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