Wall Street on Track for Another Win Amid Interest Rate Buzz

The Fed will announce its interest rate decision this afternoon

Deputy Editor
Nov 1, 2023 at 12:06 PM
facebook X logo linkedin

Wall Street is looking to extend a winning streak, as investors prepare for the Federal Reserve's latest interest rate decision. The Dow Jones Industrial Average (DJI) is up more than 120 points midday and, alongside the S&P 500 Index (SPX), is pacing for its third-straight daily win. Meanwhile, the Nasdaq Composite (IXIC) is on track for its fourth consecutive gain.

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

  • Chipmaker issues weaker-than-expected sales forecast.
  • Online dating stock tumbles on lack of attraction.
  • Plus, BHC's pre-earnings call interest; a new tank carrier company; and behind EL's fall.

Midday Market Stats November 12023

Bausch Health Companies Inc (NYSE:BHC) is gaining popularity amongst bullish options traders, as the company prepares to report third-quarter results before the market's open tomorrow. So far, 5,559 calls have exchanged hands, double the volume typically seen at this point. The January 19, 2024 9 call and weekly 11/3 7.50-strike call are the top two most popular respective contracts, with new positions opening at both. BHC is up 6.5% at $7.26, now boasting a nearly 12% year-to-date gain.  

Patriot Transportation Holding Inc (NASDAQ:PATI) is surging today, last seen up 104.2% at $15.68, after United Petroleum Transports agreed to acquire all the outstanding shares of the company for $16.26 per share in cash -- a roughly $65.9 million value. The combination of the companies will means Patriot Transportation is going private, but the transaction gives the new entity a chance to become a top five bulk tank carrier. Year to date, PATI is now 122.8% higher. 

Estee Lauder Companies Inc (NYSE:EL) is taking a huge step backwards today, trading near six-year lows after the beauty-products company issued a disappointing full-year forecast. Brushing off an unexpected fiscal first-quarter profit, EL was last seen down 20.3% at $102.69. The stock was already struggling on the charts, with rejection from its 30-day moving average popping up multiple times over the last four months, and it's now down nearly 60% in 2023.

EL MMC Chart November 12023


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 C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI