Wall Street's Rally Resumes as Consumer Confidence Soars

The Dow boasts a triple-digit midday lead

Deputy Editor
Nov 28, 2023 at 12:10 PM
facebook X logo linkedin


Wall Street's rally is resuming this afternoon, after U.S. consumer confidence improved this past month. Specifically, the Conference Board's index rose to 102, ahead of estimates of a jump to 101, though the expectations index reading was still consistent with recession. 

In response, the Dow Jones Industrial Average (DJI) boasts a triple-digit midday lead. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are modestly higher, while the Cboe Volatility Index (VIX) is inching lower once again.

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

Midday Market Stats November 282023

Call traders are blasting 3M Co (NYSE:MMM) after J.P. Morgan raised its price target on the blue-chip manufacturing giant to $108 from $105. This bull note came after a U.S. appeals court ruled in favor of 3M and other manufacturers of "forever chemicals" a big win in the fights against legal liability for the toxic substances. At last glance, 18,000 calls have crossed the tape -- eight times the intraday average volume -- with the weekly 12/1 100-strike call standing as the most popular contract and seeing new positions being opened. The equity was last seen 1.5% higher at $98.56, looking to extend its weekly winning streak to three. However, MMM is still down 17.9% year to date, and facing pressure from its 120-day moving average.

MMM MMC Chart November 222023

PDD Holdings Inc (NASDAQ:PDD) stock is one of the Nasdaq's top performers this afternoon, after the China-based e-tailer beat analysts' earnings estimates. The equity was last seen 18.2% higher at $139.11, putting its 12-month gain at nearly 87%, and earlier hitting a two-and-a-half-year peak of $139.88.

At the other end of the Nasdaq, Citi Trends, Inc. (NASDAQ:CTRN) was last seen 15.8% lower at $22.21 following worse-than-expected earnings and revenue for the third quarter. Today's drop has CTRN trading below both its year-over-year and year-to-date breakeven marks. 

 

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