The S&P 500 and Nasdaq sport solid midday leads as well
The Dow Jones Industrial Average (DJI) was last seen up triple digits, looking to extend last week's massive rebound alongside the S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC), both of which sport solid midday leads of their own. Wall Street is keeping an eye on the Democratic National Convention (DNC), which started today, as traders await the release of the Federal Reserve's meeting minutes on Wednesday.
Continue reading for more on today's market, including:
- Options bears respond to HP stock's downgrade.
- Advanced Micro Devices ramps up chip competition.
- Plus, bulls pick up shipping stock; Sunnova sock surges; and SG attracts bear note.
ZIM Integrated Shipping Services Ltd (NYSE:ZIM) is getting blasted in the options pits, with 70,000 calls and 15,000 puts exchanged so far today -- 25 times the intraday average volume. The most popular contract by far is the October 16 call, followed by the 10 call in that series. ZIM is up 24.1% to trade at $23.66 at last check, after the company announced better-than-expected second-quarter results and raised its full-year forecast. The stock earlier surged to its highest level since July, and is eyeing its best single-day percentage pop since May. So far this year, ZIM added 139.3%.
Sunnova Energy International Inc (NYSE:NOVA) is one of the best stocks on the New York Stock Exchange (NYSE) today, last seen up 8.3% to trade at $9.31. The security is trading at its highest level since February after bouncing off the 50-day moving average. Over the last three months, the solar stock added 124.8%.
Sweetgreen Inc (NYSE:SG) stock is at the bottom of the NYSE today, down 5.8% to trade at $35.19 at last glance. The restaurant stock received a downgrade from Piper Sandler to "neutral" from "overweight," in addition to a price-target hike to $39 from $33. BofA Global Research also lifted its price objective to $43 from $39. SG is pulling back from an Aug. 16, four-year high of $37.88, but still sports a 209% year-to-date lead.