AAL

Dow, S&P 500 Move Lower on Renewed Fed Fatigue

Wall Street is also unpacking factory orders data

Digital Content Manager
Jul 5, 2023 at 11:49 AM
facebook X logo linkedin


Stocks are moving lower ahead of the Federal Reserve's June meeting minutes, which are due out this afternoon and expected to provide clarity on the future of interest rates. In response, the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are both lower, while the Nasdaq Composite (IXIC) is flat. Traders are also unpacking factory orders for May, which rose less than analysts anticipated.

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

MMC Stats 0705

Call traders are blasting Coty Inc (NYSE:COTY) after a price-target hike from BofA Global Research to $14 from $13, with today's overall volume running at 33 times the intraday average. So far, 20,000 calls have exchanged hands, compared to only 848 puts, with the weekly 7/7 12.50-strike call standing out as the most popular contract. Last seen up 0.4% to trade at $12.47, the equity sports a 44.7% year-to-date lead.

Allarity Therapeutics Inc (NASDAQ:ALLR) is up 91.4% at $12.06 at last check, after phase 2 trial data of its drug showed potential for improved clinical benefit in metastatic breast cancer patients. The equity is still struggling with a long-term ceiling at its 60-day moving average, and is down 96.8% in 2023.

ALLR 60 Day

Cassava Sciences Inc (NASDAQ:SAVA) is one of the worst stocks on the Nasdaq, down 14.3% to trade at $21.71 at last glance. The pharmaceutical concern reported its oral simufilam drug slowed cognitive decline by 38% in six months in patients with mild-to-moderate Alzheimer’s disease. The security earlier gapped to a 2023 low of $21.06, and is down 26.8% for the year.

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.