Wall Street Set to Extend Rally After Economic Updates

Earnings season is injecting even more optimism

Deputy Editor
Nov 2, 2023 at 12:13 PM
facebook X logo linkedin


Wall Street's rally is gaining even more momentum today, as Treasury yields dip following the Fed's decision to leave interest rates unchanged, as well as a deluge of economic data. The Dow Jones Industrial Average (DJI) more than 380 points higher this afternoon and pacing for its fourth-straight win alongside the S&P 500 Index (SPX), while the Nasdaq Composite Index (IXIC) is set to lock in its fifth consecutive gain.

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

  • Coffee stock aiming for best day in 3 years.
  • What's weighing on this online lodging company's shares.
  • Plus, 3 stocks making big post-earnings moves.

Midday Market Stats 2 .November 22023

Last seen up 17% at $17.46, Palantir Technologies Inc (NYSE:PLTR) is seeing an unusual amount of options traded today, after the data analytics company best analysts earnings and revenue expectations for the third quarter. Already today, 339,000 calls and 120,000 have exchanged hands, five times the volume typically seen at this point. New positions are opening at the top four most popular contracts, led by the weekly 11/3 18.50-strike call. Pacing for its best single-day percentage gain since May, PLTR just bounced off of long-term support from its 140-day moving average and extended its year-to-date lead to nearly 175%.

PLTR MMC Chart November 22023

Lemonade Inc (NYSE:LMND) is the best performing security on the New York Stock Exchange (NYSE), after the company posted a smaller-than-expected third-quarter loss on the back of a revenue beat. At last glance, LMND was up 38.6% at $15.24, putting it back above its year-to-date breakeven mark.

Shares of automotive technology supplier Aptiv PLC (NYSE:APTV) are down 13.5% at $74.61 this afternoon, taking the equity's year-to-date loss to more than 20%. This dip comes even after the company beat third-quarter earnings expectations. Instead, investors are focusing on Aptiv's warnings that the UAW strike could have a $180 million impact, as well as CFRA's $20 target price cut to $130.

 

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