VIX Rallies Amid Quiet Day on Wall Street

Wall Street is also eyeing discussions surrounding the debt ceiling

Deputy Editor
May 9, 2023 at 11:55 AM
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Wall Street is relatively quiet today, as investors continue to await this week's inflation data. In addition, U.S. President Joe Biden and House Speaker Keven McCarthy will meet discuss the debt ceiling later today. At last check, the Dow Jones Industrial Average (DJI), Nasdaq Composite Index (IXIC), and and S&P 500 Index (SPX) are modestly lower, while the Cboe Volatility Index (VIX) is moving higher. 

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

  • More on IBM's new all-in-one AI tool
  • Unpacking Plug Power's Q1 earnings report.
  • Plus, 3 additional quarterly reports to unpack.

Midday Market Stats May 92023

Options traders are all over Novavax Inc (NASDAQ:NVAX) today, after the biotech concern reported better-than-expected first-quarter results. So far, 38,000 calls and 19,000 puts have exchanged hands, which is 14 times the intraday average volume. New positions are opening at the most popular contract, the weekly 5/12 10-strike call. The shares are surging today, too, last seen up 47.1% at $10.96 and set to close above their 100-day moving average for the first time since August 2022. Year-over-year, NVAX is down roughly 79%.

NVAX Chart May 92023

DaVita Inc (NYSE:DVA) is up 13.8% to trade at $101.55 this afternoon, after the dialysis specialist reported a first-quarter earnings beat on "an improving macro environment." In response, no less than three analysts raised their price targets. Year-to-date, DVA is up 36.2%.

Meanwhile, Talo Energy Inc (NYSE:TALO) is lower, after reporting a first-quarter loss. The energy company turned in losses of 1 cent per share, while analysts estimated a profit of 37 cents per share. TALO was last seen down 15.7% at $11.08, and now stands 40.8% lower in 2023.

 

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