The S&P 500 is vying for a fourth-straight win
Stocks are following up their best session since November with a muted midday performance. Investors are assessing a slew of corporate earnings reports, while the 10-year Treasury yield pulls back from 14-month highs wrought earlier this week. At last glance, the Dow Jones Industrial Average (DJI) and Nasdaq Composite Index (IXIC) are inching into the red, while the S&P 500 Index (SPX) is trying for a fourth-straight win.
Continue reading for more on today's market, including:
U.S.-listed shares of China-based electric vehicle (EV) company Xpeng Inc -- ADR (NYSE:XPEV) are on an impressive run to start 2025, already up 18.8% year-to-date. The stock is soaring today, rising 7.4% to trade at $14.01, fueled by the ongoing momentum from a recent partnership with BP (BP) that grants Xpeng customers access to BP's extensive EV charging stations in China. Options traders are loading up, with 30,000 calls and 8,917 puts traded so far -- volume that's four times the average intraday amount. The February 17 call is the most popular, with new positions being bought to open.
Shares of Symbiotic Inc. (NASDAQ:SYM) are leading the Nasdaq today, up 19.8% to $32.06, following news that the AI robotics firm acquired Walmart’s (WMT) advanced systems and robotics business for $200 million. The acquisition boosts SYM’s year-to-date performance to 33.3%, pushing it above its 60-day moving average for the first time since late-November.
Earnings season is off to a red-hot start thanks to a host of upbeat results from major banking names. Despite posting better-than-expected fourth-quarter earnings, US Bancorp (NYSE:USB) shares were last seen dropping 6.7% to $47.47, pressured by a net interest margin that came in below forecasts. The stock is now down 4.4% over the past month and currently sits fractionally lower in 2025.