S&P 500, Nasdaq Cling to Win Streaks

Positive corporate earnings reports are boosting sentiment

Deputy Editor
Nov 9, 2023 at 12:07 PM
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The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are just above breakeven this afternoon, the former looking to extend its wining streak to nine and the latter to 10, amid a swath of positive corporate earnings. Elsewhere, the Dow Jones Industrial Average (DJI) is inching lower this afternoon, while the Cboe Volatility Index (VIX) is on track to snap its longest losing streak since October 2015.

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

  • What's weighing on this ridesharing stock today.
  • Behind the tentative SAG-AFTRA deal.
  • Plus, bulls blast MARA; Affirm stock's surge; and INSE's plunge.

Midday Market Stats November 92023

Call traders are hammering Marathon Digital Holdings Inc (NASDAQ:MARA) this afternoon, after shares of the digital asset technology firm soared following a 670% year-over-year revenue gain for the third quarter. Last seen up 16.8% at $9.99, total options volume is now running at four times the intraday average amount, with 315,000 calls and 70,000 puts exchanged so far. New positions are opening at the top four most popular contracts, all of which are in the weekly 11/10 series, led by the 10.50-strike call.

MARA MMC Chart November 92023

Affirm Holdings Inc (NASDAQ:AFRM) stock is one the Nasdaq's best performing equities today, up 23.% at $26.95 at last check, earlier touching a fresh annual high of $27.15. This rise comes after the buy-now-pay-later (BNPL) company reported better-than-expected fiscal first-quarter earnings and revenue. What's more, Affirm bested fiscal second-quarter revenue forecast predictions, and now the stock is up more than 175% in 2023.

Inspired Entertainment Inc (NASDAQ:INSE) is one of the worst stocks on the Nasdaq, after the company delayed the release of its quarterly results. Last seen down 24.3% at $7.87, INSE is now 50% lower over the last nine months.

 

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