Nasdaq, S&P 500 Pop Amid Tech Sector Buzz

The U.S.' AAA rating was downgraded

Deputy Editor
May 25, 2023 at 11:49 AM
facebook twitter linkedin

The S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) are both higher this afternoon, as Nvidia's (NVDA) outperformance boosts the tech sector. The Dow Jones Industrial Average (DJI), meanwhile, sports a triple-digit midday deficit, after the U.S.' AAA rating was placed on a negative rating watch by Fitch Ratings.

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

  • More on Nvidia stock's record highs. 
  • Snowflake stock eyeing worst day ever.
  • Plus, investor takes bigger stake in Coupang; Nvidia boosts Beamr Imaging stock; and Dollar Tree's earnings blunder.

Midday Market Stats May 252023

Coupang Inc (NYSE:CPNG) is seeing an increase in call activity after investment firm Lord Abbett & Co. increased its stake in the company by 8.9%, though the shares are down 1.7% at $15.46 at last glance. So far, 30,000 bullish bets have exchanged hands -- 16 times the intraday average volume -- with new positions opening at the most popular June 17 call contract. Over the last 12 months, CPNG is more than 17% higher. 

While NVDA is the star of today's show, the company is actually helping Beamr Imaging Ltd (NASDAQ:BMR) stand at the top of the Nasdaq this afternoon. Shares were last seen 157.7% higher at $5.67, after Nvidia announced the release of Video Codec SDK 12.1, with new APIs that will support Beamr Imaging's Content Adaptive Bit Rate (CABR) library. Quarter-to-date, BMR is up nearly 250%.

Conversely, Dollar Tree Inc (NASDAQ:DLTR) is near the bottom of the Nasdaq, after the discount retailer missed first-quarter earnings expectations and cut its full-year profit guidance. Shares were last seen down 14.6% at $132.72, moving below their year-to-date and year-over-year breakeven levels.

DLTR Chart May 252023


Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!