Stocks Still Muted as Oil Prices Move Higher

China’s crude imports rose in May

Deputy Editor
Jun 7, 2023 at 11:52 AM
facebook X logo linkedin


Stocks are struggling for direction, as investors continue to unpack this morning's U.S. trade deficit data, which missed analysts' estimates. The Dow Jones Industrial Average (DJI) is flat, while the S&P 500 Index (SPX) and the Nasdaq Composite (IXIC) are pointed modestly below breakeven. Meanwhile, oil prices are on the rise, amid reports that China’s crude imports jumped higher in May. 

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

  • Stitch Fix stock eyeing best day since 2020. 
  • Biotech name's late-stage trial raises concerns. 
  • Plus, call traders eye PLAY; FARM soars on business sale; and BASE plummets from highs. 

MMC June7

Options bulls are targeting Dave & Buster's Entertainment Inc (NASDAQ:PLAY), as the stock soars following a first-quarter profit beat, up 23.8% at $41.76 at last glance. So far, 19,000 calls have been placed, which is 42 times the amount typically seen at this point, compared to 7,753 puts. The June 40 call is the most active contract, with new positions opening there. Today's pop has PLAY breaking above its 200-day moving average. Year-to-date, the security is now up 18.4%. 

PLAY June7

Farmer Bros Co (NASDAQ:FARM) is at the top of the Nasdaq today, after news that the coffee maker is selling its direct ship business, including its Northlake, Texas facility to TreeHouse Foods for roughly $100 million. FARM was up 62.2% to trade at $3.13 at last check, and earlier was as high as $3.67, hitting its highest level since early April. 

Couchbase Inc (NASDAQ:BASE) is crumbling on the charts, despite the company's narrower-than-expected first-quarter losses per share and revenue win, as well as no fewer than six price-target hikes. Today's loss puts BASE on track to snap its three-day win streak, and further removes it from its June 5, 52-week high of $22.50. Year-to-date, the equity is still up 28.8%. 

 

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 C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI