Stocks Inch Higher Before Inflation Data, Bank Earnings

The Cboe Volatility Index is looking to snap a three-day losing streak

Managing Editor
Jan 10, 2024 at 11:59 AM
facebook X logo linkedin

Stocks are cautiously higher midday, with most of Wall Street taking a wait-and-see approach ahead of inflation data Thursday and bank earnings Friday. The Dow Jones Industrial (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are all comfortably in the black, while the Cboe Volatility Index (VIX) looks to snap a three-day losing streak. In other news, U.S. wholesale inventories fell 0.2% for November. 

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

  • Homebuilding stock making waves today.
  • Analyst downgrade dings e-tail stock.
  • Plus, bulls blitz red-hot chip stock; ISRG near highs; and more WBA bear notes.

MMC Stats Jan 10

Call traders are all over Arm Holdings PLC (NASDAQ:ARM) stock today. At last check, 19,000 calls have already exchanged hands today, volume that is more than double the average intraday amount and pacing for the 92nd percentile of its 12-month range. The January 72.50 call is the most active contract, with new positions being bought to open. The chip stock -- last seen down 1.9% at $70.50 -- is up 52% off its Oct. 23 low of $46.50.  

MMC Stock Chart ARM

Intuitive Surgical, Inc. (NASDAQ:ISRG) stock is near the top of the SPX today, last seen 6.1% higher at $350.84. The surgical robot company reported preliminary fourth-quarter revenue that exceeded estimates, prompting two price-target hikes to $380 and $350 from RBC and Jefferies, respectively. ISRG is now up 28.9% year-over-year, but is running out of steam at its July 19 annual high of $358.07. 

Walgreens Boots Alliance Inc (NASDAQ:WBA) is near the bottom of the SPX, last seen off by 2.9% to trade at $24.62. The pharmacy stock received a price-target cut from Jefferies to $22.50 today, and yesterday J.P. Morgan Securities downgraded the company's credit to "underweight." WBA is down 32.9% in the last 12 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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI