Stocks Muted as Rising Bond Yields Weigh

Investors are unpacking this morning's hotter-than-expected retail sales data

Deputy Editor
Oct 17, 2023 at 12:05 PM
facebook X logo linkedin

The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are hovering around fair value this afternoon, while the Nasdaq Composite (IXIC) sports modest losses. This morning's stronger-than-expected retail sales data is weighing on the indexes, after it led traders to consider whether the Federal Reserve will keep interest rates higher for longer. Rising bond yields are also generating headwinds, with the 10-year Treasury yield earlier hitting its highest level since Oct. 6. 

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

MMC 1017

Options bulls are targeting VF Corp (NYSE:VFC), after Engaged Capital built its stake in the company. So far, 25,000 calls have been traded -- eight times the intraday average -- in comparison to 7,541 puts. The October 18 call is the most popular by far, where new positions are being bought to open. At last look, VFC was up 14.1% to trade at $18.47, bouncing off its Oct. 12, 14-year lows. The security is still below a host of key moving averages, including its 140-day moving average, which hasn't been conquered since January 2022. 

VFC 1017

The New York Stock Exchange's (NYSE) Wyndham Resorts & Hotels Inc (NYSE:WH) is up 10.4% at $76.27 at last check. The security earlier traded as high as $78.48, after a $7.8 billion buyout offer from Choice Hotels (CHH). Since the start of the year, the equity is up 7%. 

Netscout Systems Inc (NASDAQ:NTCT) is near the bottom of the Nasdaq today, down 17.1% at $22.88 at last check, after the company lowered its full-year revenue and profit forecast, citing macro headwinds. To follow, RBC slashed its price target to $25 from $34. This bear gap has NTCT trading at three-year lows, down 28.4% in 2023. 


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