Stocks Post Afternoon Gains as "Fear Gauge" Cools

U.S. President Joe Biden called recent debt ceiling talks "productive"

Deputy Editor
May 17, 2023 at 11:57 AM
facebook X logo linkedin

Wall Street is holding onto premarket gains, with the Dow Jones Industrial Average (DJI) up more than 120 points, as investors bet on lawmakers to avoid an unprecedented debt default. In a statement from the White House, U.S. President Joe Biden called the meeting "productive," saying "I'm confident that we'll get the agreement on the budget."

The S&P 500 Index (SPX) and tech-heavy the Nasdaq Composite Index (IXIC) are also in the black, while the Cboe Volatility Index (VIX) is set to snap a three-day losing streak.

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

  • What's weighing on EVgo stock.
  • Web development stock brushes off stellar quarterly report.
  • Plus, VFC calls pop; an insurance stock stays hot; and a sinking software stock. 

Midday Market Stats May 172023

VF Corp (NASDAQ:VFC) is 0.2% lower to trade at $20.55, after Citigroup cut its target price on the stock to $22 from $28. Call traders are undeterred, however, with the 5,451 bullish bets exchanged so far running at four times the intraday average amount. Most popular by far is the June 22.50 call, followed by the August 20 put. VF Corp stock has worked its way lower on the charts for much of the year, down 25.8% in that time frame and trading near its annual lows.

VFC Chart May 172023

National Western Life Group Inc (NASDAQ:NWLI) is up 35.1% this afternoon to trade at $361, after the company revealed plans to explore a sale, merger, or another strategic alternative. Now trading near the top of the Nasdaq, NWLI is up 75% in the last 12 months. 

Enterprise software concern Agilysys, Inc. (NASDAQ:AGYS) is down 14.% at $66.38 today, even after the company reported fiscal fourth-quarter results that beat Wall Street's estimates. Year-to-date, AGYS is down nearly 19%.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI