The Dow is in the midst of its sixth-straight triple digit move
After a sluggish open, stocks are pushing higher midday. The Dow Jones Industrial Average (DJIA) is up 188 points at last check, poised for its sixth-straight triple digit move in either direction. The Nasdaq Composite (IXIC) notched another record high and is heading for a fifth-straight win, with outstanding earnings from Alphabet (GOOGL) powering tech. On the economic data front, investors are balancing a third-quarter gross domestic product (GDP) reading that fell short of estimates with an October ADP job report that drastically exceeded expectations.
Continue reading for more on today's market, including:
Mobileye Global Inc (NASDAQ:MBLY) is seeing ramped up options activity today. At last check, over 15,000 puts have changed hands, volume that's five times the average intraday amount and more than double the number of calls traded. The weekly 11/29 12.50-strike put is the most popular, as is the February 12 put. The tech stock is down 2.6% to trade at $12.91, ahead of the autonomous driving company's earnings report before the open tomorrow morning. Year-to-date, MBLY is down 70.2%.
Electronic Arts Inc. (NASDAQ:EA) stock is near the top of the SPX today, last seen up 3.5% to trade at $150.78. The video game maker reported a fiscal second-quarter earnings beat while also raising its full-year bookings forecast, prompting five price-target hikes, the highest coming from Wedbush to $173 from $170. EA is a chip shot from its July 31 all-time high of $153.50, and is now 10.3% higher year-to-date.
Super Micro Computer Inc (NASDAQ:SMCI) is near the bottom of the SPX, last seen 30% lower to trade at $34.03. The chipmaker announced accounts Ernst & Young had resigned as the company's auditors, more than a year after being hired. Super Micro stock is trading at its lowest level since January, but is still up 20.9% in 2024.