Dow, Nasdaq Back Up Again as Treasury Yields Tumble

The 10-year Treasury yield slipped to its lowest level since July

Digital Content Manager
Dec 21, 2023 at 11:57 AM
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Though the major indexes yesterday came back down to earth, snapping impressive win streaks amid a selloff, they are on their way up again this afternoon. Both the Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) are up triple digits, while the S&P 500 Index (SPX) is higher as well. A tumbling 10-year Treasury yield is contributing to optimism, after slipping to its lowest level since July, with jobs data and a gross domestic product (GDP) reading providing tailwinds as well.

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

  • Chip stock surges on upbeat forecast.
  • Analyst sees more upside for Cava stock.
  • Plus, call traders target CF; Triumph's big sale; and Cano Health stock's extended struggles.

MMC Stats 1121

CF Industries Holdings, Inc. (NYSE:CF) is popular among options bulls today, with 41,000 calls exchanged -- 62 times the intraday average volume -- compared to only 445 puts. The May 90 call is the most active contract, with positions being opened there. The shares were last seen up 2.4% at $79.65, as they continue to consolidate above the 20-day moving average after conquering it last week. For 2023, the security still carries a 7.4% deficit, however.

Triumph Group Inc (NYSE:TGI) is easily the best performer on the New York Stock Exchange (NYSE), up 25.4% at $15.38 at last check. The aerospace supplier revealed the sale of its aircraft maintenance and repair unit to AAR (AIR) for $725 million in cash. Shares earlier notched a fresh 52-week high of $16.91, and now boast a 46.4% year-to-date lead.

Cano Health Inc (NYSE:CANO) is near the bottom of the NYSE, last seen down 12% at $6.11. The catalyst behind today's pullback is unclear, but the company earlier this week appointed two independent directors. Shares have been consolidating below $10 since November, and facing pressure at their 60-day moving average since a massive August bear gap. CANO is also down more than 95% in 2023.

CANO 60 Day

 

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