Stocks Mixed as Investors Eye Inflation Data, Bond Yields

Treasury yields are still cooling off despite this morning's hotter-than-expected inflation data

Deputy Editor
Oct 11, 2023 at 12:05 PM
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Stocks are mixed this afternoon, after shaking off hotter-than-expected inflation data this morning. The Dow Jones Industrial Average (DJI) is moderately lower, and potentially on track to snap a strong three-day win streak, while the S&P 500 (SPX) sits flat, and the Nasdaq Composite (IXIC) sports a solid gain. Meanwhile, bond yields are still moving lower for the most part, despite today's data.  

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

  • Massive oil merger in focus today. 
  • J.P. Morgan Securities adds CSX stock to "focus list."
  • Plus, options traders target CHPT; COHR extends rally; and AKRO falls on bear notes. 

MMC Oct11

ChargePoint Holdings Inc (NYSE:CHPT) is the most popular stock amongst options traders today, with 165,000 calls and 91,000 puts traded so far -- five times the options volume typically seen at this point. The November 5 call is the most active contract, with positions being bought to open there. At last check, CHPT was down 12.4% at a record low of $3.94. The stock slipped into penny stock territory in late September. 

Coherent Corp (NYSE:COHR) is up 6.7% to trade at $35.26 at last check, breaking into positive territory for the year, after a price-target hike from Raymond James to $42 from $35. Today's pop has COHR extending yesterday's 6.6% gain, after the company received a $1 billion investment from Denso and Mitsubishi Electric.

COHR Oct11

Akero Therapeutics Inc (NASDAQ:AKRO) is down 20% at $14.52 at last glance, after no fewer than four analysts slashed their price targets. This move comes after yesterday's sharp drop following disappointing trial data. Since the start of the year, AKRO is down 73%. 

 

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