Dow Pulling Ahead With 320-Point Pop

Today's cooler-than-expected inflation reading is boosting investor sentiment

Deputy Editor
Nov 30, 2023 at 11:44 AM
facebook X logo linkedin


Blue chips are the story today, with the Dow Jones Industrial Average (DJI) scoring a new 2023 high thanks to an encouraging inflation reading and an upbeat Salesforce (CRM) earnings report. Up 8.2% in November with a few hours to go, the blue-chip index is barreling toward its best month since October 2022. Elsewhere, the S&P 500 Index (SPX) is barely below breakeven at last check, while the Nasdaq Composite (IXIC) is firmly in the red, as profit-taking hits Big Tech.

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

  • Options traders eye Kroger stock after earnings.
  • Meet the Dow stock pacing today's rally.
  • Plus, SNAP's bull note, and two earnings reports to unpack.

Midday Market Stats November 302023

Jefferies upgraded Snapchat parent Snap Inc (NYSE:SNAP) to "buy" from "hold" and hiked its price target to $16 from $12. The Wall Street analyst said it sees Snap's North American revenue growth reaccelerating into the mid-teens in full-year 2024. Options traders are responding to the upgrade, with 92,000 calls and 31,000 puts across the tape so far today, volume that's four times the average intraday amount. New positions are being bought to open at the top four most popular contracts, led by the weekly 12/1 13.50-strike call. Up 6.7% to trade at $13.85 at last glance, SNAP is 56.5% higher year to date.

Snowflake Inc (NYSE:SNOW) is near the top of the New York Stock Exchange (NSYE), up 5.5% to trade at $185.00. The tech firm's third-quarter earnings and revenue soared above Wall Street's expectations, while its fourth-quarter product revenues guidance also beat estimates. SNOW is bouncing back toward its annual highs from June and is now up more than 31% year-over-year. 

SNOW MMC Chart November 302023

Pure Storage Inc (NYSE:PSTG) is the worst performing stock on the NYSE today, after the cloud company offered a weak revenue outlook for both the current quarter and in the full year. Last seen down 15% at $32.26 and swimming in bear notes, PSTG is now down 11.8% over the last three months.

 

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