Stocks are higher, though the SPX and IXIC are still headed for weekly losses
The Dow Jones Industrial Average (DJIA) is soaring today, up 608 points at last look and breaking into positive territory for the week. Should these gains hold, the blue-chip index will mark its fourth-straight weekly win. The S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) are comfortably higher as well, though both are still headed for weekly losses following tech's massive selloff.
This morning's inflation data met expectations, encouraging investors on their musings of a September interest rate cut, though consumer sentiment hit an eight-month low amid the recent inflation woes.
Continue reading for more on today's market, including:
- AI demand sends Coursera stock to its best day ever.
- Boston Beer stock brushes off disappointing results.
- Plus, options bulls eye AEO; EVRI soars on buyout; and DXCM plummets on forecast cut.
American Eagle Outfitters Inc (NYSE:AEO) stock has been closely watched by investors lately, and options bulls are picking up on the trend. So far today, 16,000 calls have been exchanged, seven times the call volume typically seen at this point, compared to just 1,390 puts. Most popular is the weekly 8/2 22- and 23-strike calls. Up 0.3% at $21.26 at last check, the stock has just barely climbed into the black for 2024.
Everi Holdings Inc (NYSE:EVRI) is at the top of the New York Stock Exchange (NYSE) this afternoon, up 41% at $12.88 at last glance, after news that Apollo Global Management will buy both EVRI and International Game Technology (IGT) in for $6.3 billion in cash, as IGT and EVRI were already in the midst of a merger deal. Further removing itself from its May 29, nearly four-year low of $6.37, the equity is now up 14.7% year to date.
Medical equipment stock Dexcom Inc (NASDAQ:DXCM) is at the bottom of the Nasdaq today, down 40.5% at $64.21 at last look, after the company missed second-quarter revenue estimates and slashed its 2024 revenue forecast. Gapping to four-year lows, DXCM is headed for its largest daily percentage drop ever.
