Stocks Sluggish as Oil, Bond Yields Rise

The VIX is headed for its highest close in over a week

Managing Editor
Sep 18, 2023 at 12:05 PM
facebook X logo linkedin

Stocks are stagnant to kick off the week, with all three major indexes cautiously higher midday. Despite the sluggishness, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) is heading for its highest close in over a week. Oil prices are on the rise as well, and Bitcoin (BTC) is enjoying outsized gains. Bond yields are hot ahead of the central bank meeting that kicks off tomorrow, with the 10-year Treasury yield last seen just off 16-year highs.

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

  • PayPal stock a serious downgrade risk.
  • Food delivery stock gets overdue upgrade.
  • Plus, crypto bulls pounce; VLO pops on oil sector tailwinds; and MRNA stymied.

MMC Stats Sept 18

Options traders are having a field day with Riot Platforms Inc (NASDAQ:RIOT) as part of the crypto sector and broader BTC rally today. At last check, 56,000 calls have already exchanged hands, volume that's double the average intraday amount. The weekly 9/22 11.50-strike call is the most popular, with new positions being bought to open. RIOT is 5.9% higher to trade at $11.41 at last check, and is up 238% in 2023.

Valero Energy Corporation (NYSE:VLO) stock is 1.8% higher to trade at $146.24 at last check, one of the better stocks on the S&P 500 Index (SPX). Energy firms are higher across the board as oil supply tightens, while Mizuho and BofA Global Research hiked their price targets to $174 and $161, respectively. VLO is 15% higher in 2023.

Moderna Inc (NASDAQ:MRNA) stock is near the bottom of the Nasdaq, last seen 8.3% lower at $105.05, after Pfizer forecast a 24% Covid vaccination rate in the U.S. for 2023. MRNA is down 41% year-to-date, with last week's flu vaccine-driven rally stalled by its 80-day moving average.

MMC Stock Chart MRNA


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI