MMR

Dow Up Triple Digits; S&P 500 Eyes 4th-Straight Gain

Tech titans NVDA, GOOGL are struggling in particular today

Digital Content Manager
Nov 21, 2024 at 12:17 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJI) is sporting a triple-digit lead this afternoon, as traders unpack Nvidia's (NVDA) better-than-expected quarter and volatile post-earnings response. The S&P 500 Index (SPX) is also sporting a midday lead and pacing for a fourth-straight gain, while the Nasdaq Composite (IXIC) is firmly in the red. Tech stocks are taking cues from NVDA, amid a rotation into bank stocks and sectors poised to benefit from a strong economy. 

Continue reading for more on today's market, including: 

MMC Stats 1121

BP plc (NYSE:BP) stock is getting attention in the options pits today, with 41,000 calls and 37,000 puts exchanged so far, which is eight times the volume typically seen at this point. Most active is the February 30 call, where new positions are being bought to open. BP was last up 0.8% to trade at $29.32, with oil prices rising after Ukraine claimed Russia launched an intercontinental ballistic missile. Shares still carry a 17.3% year-to-date deficit, and are once again attempting to conquer the $30 level after a failed attempt earlier this week.

Shares of Deere & Co (NYSE:DE) stock are near the top of the SPX today, up 6.8% to trade at a 5-week high of $432.66 at last check. The machinery company reported a profit and revenue beat for the fiscal fourth quarter, which is helping it brush off a dismal 2025 profit forecast due to slowing demand. DE has added 20.8% in the last nine months and is pacing for its best single-day percentage gain since February 2023. 

DE Intraday

 
Alphabet Inc (NASDAQ:GOOGL) is leading the SPX lower today, down 6.2% to trade at a new 52-week low of $165.08. Today's bear gap comes after the U.S. Department of Justice proposed the breakup of the tech company's search business Google Chrome in an antitrust case. The stock is now eyeing its worst single-day percentage drop since January but still sports an 18.2% year-to-date lead. 

 

Follow us on X, Follow us on Twitter

 

Nvidia and its powerful chips are the face of artificial intelligence.

But while everyone’s patting Nvidia on the back for record earnings…

It’s quietly moved on to the next phase of AI it plans to conquer…

Nvidia recently unveiled essential blueprints for this crucial $1 trillion pivot.

Click here now and find out about the three companies Nvidia absolutely needs to succeed in this vital new AI frontier.
 (ad)