Stocks Mixed Following Hawkish Fed Comments

Fed Chair Powell isn't ruling out rate hikes at consecutive meetings

Deputy Editor
Jun 28, 2023 at 12:08 PM
facebook X logo linkedin


Stocks are mixed, as investors unpack comments from U.S. Federal Reserve Chairman Jerome Powell before the European Central Bank (ECB). Powell took an aggressive stance toward inflation, hinting at more restriction and even back-to-back interest rate hikes. Meanwhile, the U.S. trade deficit in goods fell to 6% in May. The Dow Jones Industrial Average (DJI) is down 88 points, paring its earlier triple-digit losses, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have clawed their way into positive territory. 

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

  • Analyst sees plenty of upside for Pinterest stock. 
  • Potential China sales restrictions weigh on Nvidia stock
  • Plus, call traders eye JOBY; KLR jumps on buyout; and ETON falls on FDA news.

MMC June28

Joby Aviation Inc (NYSE:JOBY) is up 36% at $8.69, after the U.S. aviation regulator approved flight testing of its electric air taxi. So far, 16,000 calls have been exchanged, which is 18 times the amount typically seen a this point. The July 10 and 7.50 calls are the most popular, with new positions being opened at both. Trading at its highest levels since November 2021, the equity is up 156.7% year-to-date. 

joby june28

Kaleyra Inc (NYSE:KLR) is up 39.2% to trade at $6.68 at last check, after news that Tata Communications (TATA) is buying out the company in an all-cash deal worth about $100 million. Now trading at its highest level since August , KLR is up 152.8% since the start of 2023. 

Eton Pharmaceuticals Inc (NASDAQ:ETON) is down 15.6% at $3.41, after the U.S. Food & Drug Administration (FDA) did not approve its methanol poisoning treatment. The stock's 320-day moving average looks like it could provide support for today's pullback, though it briefly dipped below it earlier. Year-to-date, ETON is up 23.8%.

 

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