Dow, Nasdaq Down Triple Digits as "Fear Gauge" Rises

Bond yields remain elevated midday, while oil prices stabilize

Managing Editor
Sep 6, 2023 at 12:03 PM
facebook twitter linkedin


Stocks are getting dinged once more, with the Dow and Nasdaq nursing triple-digit deficits midday. The latter is heading for a third-straight drop, weighed down by outsized moves lower from the likes of Nvidia (NVDA) and Tesla (TSLA). While oil prices are cooling off  -- last seen 0.4% lower at $86.37 per barrel -- bond yields remain elevated and the Cboe Volatility Index (VIX) heads toward its third-straight win.

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

  • Analyst steps to the Block stock sidelines.
  • AI tailwinds boost GitLab stock.
  • Plus, calls pop on C3.ai stock; HOG higher on share buyback; and AMC nears record lows. 

MMC Stats Sept 6

Options traders are loading up on C3.ai Inc (NYSE:AI) today, ahead of the artificial intelligence company's earnings report, due out after the close today. While AI was last seen 1% lower to trade at $31.12, but over 42,000 calls have changed hands already today, volume that's double the average intraday amount. The weekly 9/8 32.50-strike call is most popular, with new positions being opened. The equity is up 176% in 2023. 

Harley-Davidson Inc (NYSE:HOG) stock is 3.3% higher to trade at $34.85, one of the better stocks on the New York Stock Exchange (NYSE) today. The motorcycle retailer authorized the repurchase of an additional $10 million of the company's common stock. Harley-Davidson stock remains 16.2% lower in 2023, with today's rally falling short of its 30-day moving average.

HOG Stock Chart MMC

At the same time, AMC Entertainment Holdings Inc (NYSE:AMC) stock is 20% lower to trade at $10.88, after the theater chain announced it will offer 40 million shares of class A common stock, to be sold at an "at-the-market" offering. The former meme stock is fresh off a record low of $10.01 and is down 72% in 2023. 

 

Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!