Stocks Edge Higher as End of 2023 Approaches

Jobless claims beat Wall Street's expectations

Digital Content Manager
Dec 28, 2023 at 12:01 PM
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The Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are all sporting solid midday gains. The SPX is less than 10 points away from record close territory, and with one day left, all three major indexes are heading toward sizable December wins. Investors today are also brushing off disappointing home sales data, while jobless claims beat Wall Street's estimates.

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

MMC Stats 1228

Chemical stock Huntsman Corporation (NYSE:HUN) is seeing unusual put activity today, with 11,000 calls traded so far -- 30 times the intraday average volume -- compared to only 58 calls. Most popular by far is the January 2024 24-strike put. HUN is off 0.3% at $25.52 at last check, though there is no specific catalyst for the negative price action. The shares are off 7.2% so far in 2023, and have struggled with resistance at the $26 region since September.

Banyan Acquisition Corp (NYSE:BYN) is up 10.6% to trade $10.89 at last check, leading the New York Stock Exchange (NYSE), after stockholders today approved a business combination proposal with Pinstripes. BYN boasts a 6.6% year-to-date lead, and is today pacing for its biggest single-day percentage gain on record, earlier hitting a record high of $13.09.

NeoGenomics, Inc. (NASDAQ:NEO) stock is near the bottom of the NYSE, last seen down 17.2% to trade at $16.99. The oncology device company will appeal a patent-infringement lawsuit brought by Natera (NTRA). Despite an 84% year-to-date lead, NEO today is on track for its worst single-day percentage loss since March 2022, and has breached its 40-day moving average for the first time since October. 

NEO 40 Day

 

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