Dow, S&P 500 Eye 3rd-Straight Weekly Win

The Dow and Nasdaq are enjoying triple-digit surges

Managing Editor
Jul 28, 2023 at 11:47 AM
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The Dow Jones Industrial Average (DJI) is back on the horse today, enjoying a triple-digit gain following yesterday's blunder. Both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are higher as well, with modest inflation data grabbing investor focus. All three major indexes are pacing for a weekly win, which would mark three-straight weeks of gains for the blue-chip index and S&P 500.

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

  • Energy stock hits a post-earnings bottom.
  • Chip giant surging on surprise Q2 profit.
  • Plus, TWLO a favorite amongst options traders; beer stock surging; and Sweetgreen stock's post-earnings slide.

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Twilio Inc (NYSE:TWLO) is seeing an options surge today, after the tech company furthered its relationship with Amazon Web Services (AWS) to power intelligence driven customer engagement. So far, 50,000 calls and 11,000 puts have been exchanged, which is already five times the average daily options volume. The weekly 8/11 75-strike call is the most popular, with new positions being bought to open there. At last glance, TWLO was up 3.4% to trade at $63.18.

Boston Beer Company Inc (NYSE:SAM) is toward the top of the New York Stock Exchange (NYSE) today, last seen at a five-month peak of $377.99 after posting a second-quarter revenue beat. SAM has been struggling to break out of a trend of lower lows in recent months, but now is eyeing its best daily percentage jump since October 2022.
 
Sweetgreen Inc (NYSE:SG) is one of the worst performers on the NYSE this afternoon, sliding 10% at $13.70 after posting a net loss of 24 cents per share for the second quarter. Despite its mild optimism for 2024, the equity remains down 26% for the past nine months and is struggling to remain above the key 320-moving average. 

 

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