Overall, investors are encouraged by President Trump's latest trade rhetoric
Stocks are sluggish to end an otherwise outstanding week on Wall Street. The S&P 500 Index (SPX) nabbed another intraday record high, but is flat at last glance. The Dow Jones Industrial Average (DJI) and Nasdaq Composite Index (IXIC) are both marginally in the red midday, with four-day win streaks in jeopardy, the tech-heavy latter stalling out just below a record high of its own earlier.
Despite today's lackluster trading, all three indexes are heading for a second consecutive weekly win, all as optimism over toned-down Trump trade rhetoric sends the Cboe Volatility Index (VIX) below 14 for the first time since Dec. 16.
On the data front, the services purchasing managers' index (PMI) fell to a nine-month low in January, while manufacturing expanded for the first time since last spring. Home sales rose in December, with the National Association of Realtors reporting the strongest annual gain in more than three years.
Continue reading for more on today's market, including:
- Pharma stock bounces on obesity drug data.
- Analyst turns bearish on PVH stock.
- Plus, TXN's post-earnings options activity; Dana's revised forecast; and CF's bear note.
Texas Instruments Inc (NASDAQ:TXN) stock is 5.2% lower at $190.13 at last check. While the semiconductor giant beat earnings and revenue expectations for the fourth quarter, the firm's current-quarter forecast fell short of analysts' estimates. Already today, 23,000 calls and 26,000 puts have exchanged hands, volume that is 9 times the average intraday amount. New positions are being bought to open at the eight most popular contracts, led by the January 190 put. Year over year, TXN remains up 13.7%.
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Electric Vehicle (EV) supply manufacturer Dana Inc (NYSE:DAN) shared strong guidance for the full year, sending the stock toward the top of the New York Stock Exchange (NYSE), up 16.9% at $15.46 at last glance. The firm now sees sales of approximately $10.3 billion to match expectations. Thanks to today's surge, DAN is now 36% higher already in 2025.
CF Industries Holdings, Inc. (NYSE:CF) is near the bottom of the NYSE this afternoon, last seen 5.7% lower to $89.79. JPMorgan Securities downgraded fertilizer stock to "underweight" from "neutral," trimming its price target to $75 from $82 as well. CF is headed for a 8.5% weekly loss, but it still sports a modest 4% year-to-date gain.