The Dow is up more than 150 points this afternoon
Stocks are looking to extend yesterday's strong rally, with more upbeat inflation data fueling investors' optimism. The Dow Jones Industrial Average (DJI) is up more than 150 points this afternoon, and looking to extend its daily winning streak to four. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also modestly higher, while the Cboe Volatility Index (VIX) -- just days off an eight-day skid -- is pacing for its 11th loss in 13 sessions.
Continue reading for more on today's market, including:
- Behind this beverage stock's bull note.
- Retail stock eyeing best day since 2019.
- Plus, JD's post-earnings options barrage; the latest million-dollar repurchase program; and battery maker's tumble.
U.S.-listed shares of China-based JD.Com Inc (NASDAQ:JD) were last seen 7.4% higher at $28.69, eyeing their best day since January, as options traders react to the e-commerce giant's stellar fiscal fourth-quarter earnings report. At the session's halfway point, more than 79,000 calls and 27,000 puts have exchanged hands, or six times the average intraday volume. Most popular by far is the November 30 call. However, year to date, JD is still down nearly 50%.
Chegg Inc (NYSE:CHGG) stock is one of today's best performers on the New York Stock Exchange (NYSE), after the company revealed a $150 million accelerated share repurchase with Morgan Stanley bank. Last seen 15.5% higher at $10.27, CHGG is still down nearly 60% in 2023.
Energizer Holdings Inc (NYSE:ENR), meanwhile, is near the bottom of the NYSE, last seen 6.4% lower at $33.80. The battery maker yesterday posted fiscal fourth-quarter earnings and revenue that beat Wall Street's estimates, and multiple analysts hiked their price targets on the stock today, but J.P. Morgan Securities downgrade to "underweight" seems to be offsetting the upbeat report. Today's dip just dragged the equity below its year-to-date breakeven mark.