The Dow is headed for its ninth consecutive daily loss
The Dow Jones Industrial Average (DJI) is down 210 points midday, headed for its ninth-straight daily loss. This would mark the blue-chip index's worst daily losing streak since since 1978, according to Dow Jones Market Data. The S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) are firmly lower as well, as investors digest this morning's retail sales data and look ahead to tomorrow's interest-rate decision.
Continue reading for more on today's market, including:
Tesla Inc (NASDAQ:TSLA) stock is hitting record highs after an upgrade from Mizuho to "outperform" from "neutral." Shares were last seen up 3.4% at $478.72, and earlier traded as high as $483.99. The electric vehicle (EV) giant is even more popular than usual amongst options bulls today, with 1.43 million calls exchanged so far -- double the call volume typically seen at this point. The December 500 call is the most popular by far, with new positions being opened.
Quantum Computing Inc (NASDAQ:QUBT) is up 47% at $16.29 at last glance, after the company landed a contract with NASA to enhance its imaging reconstruction and data processing capabilities. Jumping to its highest levels since February 2021, QUBT is up 132% already this month.
Marvell Technology Inc (NASDAQ:MRVL) is one of the worst performing stocks on the Nasdaq today, down 8.2% at $114.54 at last check. The shares yesterday hit a record high of $126.15, enjoying a boost from the overarching artificial intelligence (AI) boom. Year to date,
the equity is up 89.5%.