The 10-year Treasury yield hit its lowest level since September
Stocks are higher this afternoon, as investors react positively to dovish commentary from the central bank and this morning's gross domestic product (GDP) data. Treasury yields continued to pullback, too, with the 10-year note dropping below 4.3% for the first time since September.
At last glance, the Dow Jones Industrial Average (DJI), Nasdaq Composite (IXIC), S&P 500 Index (SPX), and, surprisingly, the Cboe Volatility Index (VIX) were all solidly higher. The SPX and IXIC earlier touched their highest levels since July.
Continue reading for more on today's market, including:
- What's weighing on this casino stock this afternoon.
- Cloud stock floats to 2023 highs after earnings.
- Plus, DLTR's post-earnings options activity; GME's pre-earnings pop; and Farfetch ponders going private.
Options traders are all over Dollar Tree Inc (NASDAQ:DLTR) after the discount retailer reported third-quarter earnings. Despite missing earnings and sales expectations, DLTR was last seen 2.4% higher at $118.78 -- now up 11.5% this quarter -- after providing an in-line outlook for the current quarter. Near the session's halfway mark, 13,000 puts and 12,000 calls have crossed the tape, or seven times the intraday average volume. Most popular is the January 19, 2024 120 put, followed by the 125 call in that same series.
GameStop Corp (NYSE:GME) stock stands near the top of the New York Stock Exchange (NSYE), last seen up 15.3% at $15.55, as investors bet on the meme stock before the company's earnings report. The videogame-focused retailer is set to step into the earnings confessional after the market closes on Wednesday, Dec. 6. Leading up to the event, GME has added 30% this week, though it remains 14.3% lower year to date.
Farfetch Ltd (NYSE:FTCH) was last seen 40.7% lower at $1.26, trading at the bottom of the NYSE after Cartier owner Richemont announced it won't inject cash into the e-commerce company. This follows news that Farfetch's founder Jose Neves is considering taking the company private. Year over year, FTCH is now down 85%.