The Dow is slightly lower and the Nasdaq is up triple digits
Wall Street is mixed today, as investors digest another inflation reading, in the form of August's producer price index (PPI), which came in line with economists' expectations. The Dow Jones Industrial Average (DJI) is slightly below breakeven, while the Nasdaq Composite (IXIC) boasts a triple-digit midday gain. Elsewhere, the S&P 500 Index (SPX) is modestly higher and heading for its fourth-straight daily win.
Continue reading for more on today's market, including:
- Chip stock slides on rare double downgrade.
- Why Moderna stock is plummeting today.
- Plus, a pre-earnings look at Kroger stock; Warner Bros Discovery inks new deal; and EQT's bear note.
Kroger Co (NYSE:KR) is enjoying a post-earnings pop, after this morning sharing a quarterly beat. Already today, 24,000 calls and 12,000 puts have traded hands, which is 5 times the average intraday volume. The weekly 9/13 55-strike call and 52-strike put are the top two most active contracts, respectively, and both are seeing new positions open. At last glance, KR is up 5.8% at $54.51, and now sports an 18.4% year-over-year gain.
Warner Bros Discovery Inc (NASDAQ:WBD) stock is getting a boost today, last seen 6.5% higher at $7.39 after the
mass media and entertainment name inked a new distribution deal for all of its cable channels with Charter Communications -- the largest pay TV distributor in the U.S. The stock fell to $6.64 on Aug. 13, marking its lowest level since 2009, and though its the best SPX performer today, WBD is still down 34.9% in 2024.
EQT Corp (NYSE:EQT) stock is near the bottom of the SPX, last seen down 1.3% at $32.47 -- though it earlier traded as low as $31.67 -- after JPMorgan Securities cut its price target from $42 to $37. Over the
last 12 months, EQT has lost 25.4%.