This week's inflation data is already in focus
The Dow Jones Industrial Average (DJI) is up triple digits midday, as investors look ahead to this week's inflation data. According to a New York Federal Reserve survey released today, inflation expectations declined in June. The S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) are modestly higher as well, having already inched to fresh record highs today, while oil prices dip slightly as Wall Street assesses the impact of Hurricane Beryl.
Continue reading for more on today's market, including:
Options traders are targeting Corning Inc (NYSE:GLW) today, as the stock hits record highs following the company's second-quarter core sales forecast hike thanks to artificial intelligence (AI) tailwinds. So far, 29,000 calls and 7,728 puts have been exchanged, which is already 2.9 times GLW's average daily options volume. The November 45 call is the most popular, followed by the weekly 7/26 40-strike call. At last check, Corning stock was up 9.8% at $42.20.
Medtech stock Pulse Biosciences Inc (NASDAQ:PLSE) is up 18.7% at $14.30 at last glance, after the company said it had received breakthrough device designation from the U.S. Food & Drug Administration (FDA) for its CellFX nanosecond pulse field ablation cardiac surgery system for the treatment of atrial fibrillation (AFib). Trading at two-year highs, the equity is up 17.2% since the start of the year.
Koss Corp (NASDAQ:KOSS) is down 22.5% at $10.34 at last look, pulling back after last week's 200% 'meme-stock'-driven rise. On the short sell restricted (SSR) list amid the volatility, the equity is still up 189% year to date.