Nasdaq Up Triple Digits as Amazon Boosts Tech Sector

Investors are unpacking a big surge in jobless claims

Deputy Editor
Jun 8, 2023 at 11:58 AM
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The Nasdaq Composite (IXIC) was last seen up triple digits, as Amazon.com (AMZN) gives the tech sector a boost after a bull note. The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) sit firmly higher as well -- the latter just barely below the key 4,300 level. Investors are still unpacking this morning's jobless claims, which hit their highest level since October 2021, sending Treasury yields lower. 

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

  • GameStop stock crumbling on CEO exit
  • Behind T-Mobile stock's upgrade. 
  • Plus, call traders blast HBI; CVNA soars on guidance; and HCP plummets after quarterly results. 

MMC June8

Options bulls are targeting HanesBrands Inc (NYSE:HBI) today, after the company's apparel partnership with University of Minnesota. So far, 52,000 calls have crossed the tape -- 67 times the intraday average -- compared to only 14 puts. The January 2024 5-strike call is the most popular, followed by the January 2025 5-strike call, with positions being opened at the latter. HBI is down 1.6% at $4.56, and sports a 28.3% year-to-date deficit. 

Carvana Co (NYSE:CVNA) is up 23% at $19.09 at last glance, and earlier was as high as $20.20, after the company issued an upbeat second-quarter forecast. Now trading at its highest level since October, the stock is up 302.1% year-to-date, and now a far cry from its venture into penny stock territory at the start of the year. 

CVNA June8

HashiCorp Inc (NASDAQ:HCP) is at the bottom of the Nasdaq today, down 23.2% at $26.72 at last glance, after the software concern cut its 2024 revenue guidance, despite announcing narrower-than-expected first-quarter losses per share and a revenue beat. No fewer than eight analysts slashed their price targets after the event, and today's plummet has HCP dipping into negative territory for 2023. 

 

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