The Dow has shed nearly 150 points so far today
After a promising pre-market performance, Wall Street is sluggish this afternoon. The Dow Jones Industrial Average (DJI) is off by nearly 150 points, while the S&P 500 Index (SPX) is just above breakeven, and the Nasdaq Composite (IXIC) sports a modest lead.
While tech and bank stocks are in focus today -- as well as tonight's debate between Presidential candidates V.P. Kamala Harris and former President Donald Trump -- investors still have their eyes set on this week's inflation data that kicks off tomorrow with the release of the consumer price index (CPI).
Continue reading for more on today's market, including:
- Anheuser-Busch stock named a top pick.
- These 12 stocks are short squeeze candidates.
- Plus, put traders blast JPM; Boot Barn sees big sales growth; and what's weighing on Ally Financial stock.
Bank equities are falling today, and JPMorgan Chase & Co (NYSE:JPM) stock was seen 5% lower at $205.99 after the company's tepid commentary on net interest income in 2025. The equity is also seeing five times the intraday average options volume, with 83,000 calls and 114,000 puts traded so far. The most activity is taking place at the weekly 9/13 215-strike call and the 205-strike put in the same series, with new positions opening at both. JPM is about to turn in its fifth loss in six sessions, though it still boasts a 21.1% year-to-date lead and a slim 1.8% gain for the quarter.
Boot Barn Holdings Inc (NYSE:BOOT) stock is one of the best performing stocks on the New York Stock Exchange (NYSE) this afternoon. Last seen 10.1% higher at $153.66, and earlier touching an all-time high of $162.16, BOOT is getting a boost after announcing preliminary consolidated same-store sales growth of 4% for the fiscal second quarter. On track for their third-straight win, shares of the
Western-style retailer are now up 104% in 2024.
Conversely,
Ally Financial Inc (NYSE:ALLY) stock is at the bottom of the NYSE, down 17.1% at $32.88 at last check and on track for its largest single-session loss since 2020. This comes after RBC Capital noted that, during an investor conference, the
bank holding company discussed credit trends and said it anticipates higher delinquencies and net charge offs for the third quarter. For the quarter, ALLY is now down 16%.