Stocks Move Higher Before Thanksgiving Break

Treasury yields pulled back to roughly two-month lows

Deputy Editor
Nov 22, 2023 at 12:09 PM
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Wall Street is higher ahead of tomorrow's Thanksgiving break. The Dow Jones Industrial Average (DJI) is up triple digits midday, following the University of Michigan’s consumer sentiment index for October, which signaled optimism. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are higher as well, with Treasury yields near two-month lows.

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

  • Investors set sights on semiconductor stock.
  • Retail stock eyes worst day in more than 12 months.
  • Plus, Deere's guidance misstep; AGL's surge; and more retail earnings.  

Midday Market Stats November 222023

Deere & Company (NYSE:DE) is seeing ample activity in its normally quiet options pits, after the agricultural equipment maker issued profit guidance for fiscal 2024 that came in below economists' estimates. Already today, 18,000 calls and 20,000 puts have traded hands, or eight times the average intraday volume, with the weekly 11/24 365-strike put standing out as the most popular contract. DE was last seen 5.1% lower at $363.34, adding to its 15.3% year-to-date deficit. 

Surging without an immediately clear catalyst ,the shares of healthcare name Agilon Health Inc (NYSE:AGLare near the top of the New York Stock Exchange (NYSE) today. Last seen 7.8% higher at $11.86, AGL is now more than 26.7% year to date.

Retail concern Guess?, Inc. (NYSE:GES) is trading near the bottom of the NYSE. At last check, GES is down 7.9% at $21.85, chipping away at its 5.6% year-to-date lead, after missing third-quarter earnings expectations and issuing a conservative fourth-quarter outlook. In response, Jefferies cut its price target to $25 from $28.

GES MMC Chart November 222023


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