Dow Up Triple Digits, Eyes Weekly, Monthly Wins

The Dow is heading for its best month since January

Deputy Editor
Apr 28, 2023 at 11:29 AM
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Wall Street is reversing this morning's premarket losses amid a deluge of earnings and inflation data. The Dow Jones Industrial Average (DJI) is up more than 170 points and heading for its best month since January. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also modestly higher at last check, though the former is on track to log a monthly loss. All three indexes are set to log solid weekly wins as well. 

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

Midday Market Stats April 282023

Options traders are targeting Intel Corporation (NASDAQ:INTC) at quadruple the intraday average volume, with 111,000 calls and 73,000 puts exchanged so far. New positions are being opened at the top three most active contracts, the weekly 4/28 32- and 32.50-strike calls, as well as the May 32.50 call. Intel stock is up 6.2% at $31.70 at last look, after the chipmaker beat Wall Street's top- and bottom-line estimates for the first quarter. Intel stock is up 20.4% in 2023, with its 100-day trendline catching its most recent pullback.

INTC Chart 2 April 282023

CVRx Inc (NASDAQ:CVRX) is brushing off a post-earnings bear note, with J.P. Morgan Securities slashing its price objective to $14 from $18 after the company reported better-than-expected first-quarter financial figures. The shares are up 25.1% at $11.86 at last glance, set to snap its three-month losing streak. Year-to-date, CVRX is down 35.3%.

Addus Homecare Corporation (NASDAQ:ADUS) is near the bottom of the Nasdaq, down 27.7% to trade at $82.48 at last check, after Jefferies warned that a new proposal could weigh on the healthcare stock. The U.S. Centers for Medicare & Medicaid Services (CMS) proposed a rule that would add transparency to pricing. ADUS is now down more than 15% year-to-date.

 

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