Nasdaq Up Triple-Digits as Bank Concerns Weigh on Dow

Big Tech earnings are giving the Nasdaq a boost while First Republic Bank weakens the Dow

Deputy Editor
Apr 26, 2023 at 12:01 PM
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The Nasdaq Composite Index (IXIC) is still enjoying tailwinds from Microsoft (MSFT) and Alphabet's (GOOGL) quarterly results, up triple-digits midday. The S&P 500 Index (SPX), meanwhile, is posting tentative gains, while the Dow Jones Industrial Average (DJI) has turned lower. First Republic Bank (FRC) stock's plummet to record lows is at the center of investors' attentions as well, bringing back concerns regarding the bank sector. 

 

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

  • Dismal sales forecast sends energy stock reeling. 
  • Coinbase stock rising alongside Bitcoin
  • Plus, options traders target CMG; DDOG jumps on tech surge; and ENVA drops after earnings. 

MMC April26

Chipotle Mexican Grille Inc (NYSE:CMG) is up 14.3% at $2,034.00 at last glance, earlier hitting a record high of $2,047.31, after the food chain's first-quarter results beat landed it a barrage of bull notes. Naturally, options traders are chiming in, with 29,000 calls and 23,000 puts exchanged so far -- already 20 times the usual daily volume. The weekly 5/5 2,100-strike call is the most active, with new positions opening there. Year-to-date, the equity is up 46.7%. 

Datadog Inc (NASDAQ:DDOG) is getting a boost from Microsoft (MSFT) and Alphabet's (GOOGL) quarterly results, up 13.8% to trade at $71.30 at last glance. The stock's 100-day moving average appears to be keeping gains in check, however. Year-to-date, the equity is down 3.3%. 

DDOG Apr26

Meanwhile, Enova International Inc (NYSE:ENVA) is down 12.8% at $41.58, after the company's mixed first-quarter results, with better-than-expected profits of $1.79 per share on lower-than-expected revenue. The security is also brushing off a price-target hike from Jefferies to $60 from $55. Year-to-date, the equity is up 9.3%. 

 

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