The Federal Reserve's interest rate decision is due out later this afternoon
The Dow Jones Industrial Average (DJI) is up 142 points this afternoon, looking to snap its worst daily losing streak since 1978. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are modestly in the black, as investors look ahead to the Federal Reserve's interest-rate decision, due out today at 2 p.m. ET. In the meantime, building permits rose 6.1% to a higher-than-expected annual rate of 1.505 million in November, while mortgage demand dropped after rates moved higher last week.
Continue reading for more on today's market, including:
- Footwear retailer surging on upbeat earnings.
- Analyst sees headwinds for popular EV stock.
- Plus, options traders target JBL; XPRO jumps on insider buying; and shorts eye SEZL.
Options traders are targeting Jabil Inc (NYSE:JBL), after the circuit board maker's much better-than-expected fiscal first-quarter results and upbeat full-year forecast. JBL has already seen 7,297 calls and 4,916 puts cross the tape, or 5.6 times its average daily options volume. The most popular contracts are the December 150 and 140 calls, with new positions opening at the 160 call in the same series. Jabil stock was last seen up 8.6% at $145.49, and trading at its highest levels since March.
Expro Group Holdings NV (NYSE:XPRO) is up 9% at $12.09 at last look, after reports that CEO Michael Jardon purchased $493,132 in the stock, after director Robert Wayne Jr bought up $205,202 worth of shares. This insider buying appears to be happening on the dip, as XPRO is now jumping off last session's two-year low of $10.71. Year to date, the equity is down 23.8%.
Sezzle Inc (NASDAQ:SEZL) is down 9.2% at $286.08, after news that Hindenburg Research has taken a short position on the fintech name. Headed for its eighth daily loss in nine sessions as it moves further from its late-October record highs, SEZL is up still up 67.6% quarter-to-date.