Dow Up Triple Digits; S&P 500 Near Record High

Tailwinds continue to blow on Wall Street

Digital Content Manager
Dec 19, 2023 at 11:48 AM
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The Dow Jones Industrial Average (DJI) boasts a triple-digit lead this afternoon, and is on its way to nabbing a ninth-straight win alongside the Nasdaq Composite (IXIC). Meanwhile, the S&P 500 Index (SPX) is pacing for its eighth gain in nine sessions, and is now within striking distance of record highs as the Federal Reserve's dovish stance continues to lift Wall Street's spirits.

  • Analyst praise boosts biopharma stock.
  • Plug Power stock moves lower on bear note.
  • Plus, Kenvue stock surges on court ruling; and 2 energy stocks on opposite sides of breakeven.

MMC Stats 1219

Kenvue Inc (NYSE:KVUE) stock is seeing unusual options activity today.  Already, 136,000 calls and 65,000 puts have exchanged hands, volume that is seven times the amount typically seen at this point. Most popular is the April 27 call, where positions are being opened. The equity was last seen up 5.2% at at $22.11, after a court ruled in favor of its painkiller Tylenol. J.P. Morgan Securities also added KVUE to its U.S. analyst focus list, while UBS raised its price objective to $23 from $20. For the quarter, the security is up more than 10%.

Sunnova Energy International Inc (NYSE:NOVA) is one of the best names on the New York Stock Exchange (NYSE) today, up 13.2% at $14.92 at last check. The stock drew an upgrade from Piper Sandler to "overweight" from "neutral," as well as a price-target hike to $26 from $13 -- a roughly 97% premium to its last close. NOVA could close above its 200-day moving average for the first time since July if these gains hold, and is up 41.9% quarter-to-date.

NOVA 200 Day

Diversified Energy Company PLC(NYSE:DEC) stock was last seen down 8.4% at $16.40. The company revealed that members from the U.S. House of Representatives Committee on Energy and Commerce asked for information about its well retirement and emissions policy. 

 

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