Red-Hot Tech Rally Boosts Major Benchmarks

Tech is rallying after falling over the last few weeks

Deputy Editor
Mar 18, 2024 at 12:04 PM
facebook X logo linkedin

Stocks are higher Monday afternoon, as Nvidia's rally helps the broader tech sector stage a comeback. As a result, the Nasdaq Composite (IXIC) is up more than 240 points, while the Dow Jones Industrial Average (DJI) also sports a triple-digit lead, and the S&P 500 Index (SPX) trades in the black. 

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

Midday Market Stats March 182024

Shares of apparel retailer Gap Inc (NYSE:GPS) are 5% higher at $24.78 at last check, continuing their post-earnings run higher. Including today's surge, GPS have won 11 of the last 12 sessions, and now stands nearly 155% higher over the last 12 months. Bullish options traders are still speculating, too, with 17,000 calls traded so far today, or double the average intraday volume. Most popular is the April 24 call, followed by the weekly 3/22 25-strike call that is seeing new positions opening.

Near the top of the New York Stock Exchange (NYSE) today is Nuscale Power Corp (NYSE:SMR). The shares were last seen 21.3% higher at $9.52, and earlier approached the $10 level after Romanian-based nuclear power producer Nuclearelectrica boosted the sector by saying it anticipates its planned small modular reactor (SMR) plant will have a preliminary final investment decision made in 2025. Year to date, Nuscale Power stock is 207% higher.

Shift4 Payments Inc (NYSE:FOUR) is 8.2% lower at last glance to trade near the bottom of the NYSE. This drop follows news that Shift4 Payments' CEO told staff that buyout bids failed to "sufficiently value" the company. However, FOUR has pulled into support at the 100-day moving average and remains up more than 20% over the last six months, indicating today's drop may be a good entry point for contrarian traders.

FOUR Chart 2 March 182024


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