Stocks Shake Off Morning Losses, Head Higher

The 10-year Treasury yield remains elevated at 15-year highs

Managing Editor
Sep 28, 2023 at 11:51 AM
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Stocks are on the rise, with the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) all modestly higher midday, with the first up triple digits at last check. All three indexes have spent time on both sides of the aisle already today, as investors fret over rising bond yields and the latest economic data. Also in focus are lackluster pending home sales, which fell 7.1% in August. 

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

  • Peloton stock is up off the mat. 
  • Duolingo stock translating to profits. 
  • Plus, CROX contracts hot; Jabil's beat-and-raise; and Wall Street newbie sinks.

MMC Stats Sept 28

Options traders are blasting Crocs Inc (NASDAQ:CROX) stock, with more than 6,400 contracts exchanging hands already today. Put volume is running at double the average intraday amount, but the weekly 10/27 99-strike call is the most popular by far, with new positions being bought to open. Crocs stock is 22.5% lower year-to-date, and up 0.8% to trade at $85.26 at last check.

Jabil Inc (NYSE:JBL) stock is scaling the New York Stock Exchange (NYSE) today, last seen 14.6% higher to trade at $120.48, and earlier hitting a record high of $120.60. The electronics name scored an fiscal-fourth quarter profit win and lifted fiscal first-quarter guidance. Year-to-date, JBL is 77% higher. 

CAVA Group Inc (NYSE:CAVA) stock is in the NYSE cellar today, off by 2.2% to trade at $30.72 at last check. The shares earlier fell to a record low of $29.91, with no specific catalyst. The Mediterranean fast-casual chain operator debuted on June 15, and has shed 48% since an Aug. 2 peak of $58.10. 

MMC Stock Chart CAVA

 

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