The S&P 500 is also sporting solid midday gains
Stocks are rallying ahead of the Federal Reserve's interest rate decision, due out later this afternoon. The Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) are sporting triple-digit midday gains, and the S&P 500 Index (SPX) is firmly higher as well. While the Fed is not expected to make adjustments this month, investors hope to learn whether plans remain to cut rates twice this year. They are also hoping to hear the Fed's projections for unemployment, inflation, and gross domestic product (GDP).
Continue reading for more on today's market, including:
- Signet Jewelers stock shines after quarterly win.
- Possible HIV funding cut dings pharma stock.
- Plus, WSM brushes off strong quarter; why Boeing stock is surging; and fintech stock gapping lower.
Williams-Sonoma Inc(NYSE:WSM) stock is seeing unusual options activity today, with 6,327 calls and 9,312 puts exchanged so far, which is 11 times the volume typically seen at this point. The most active contract is the March 160 put, but new positions are being opened at the 150 put in that same series. WSM was last seen down 11.7% to trade at $152.16 -- its lowest level since November. The home goods retailer's fourth-quarter earnings and revenue beat was pushed aside following a grim annual forecast. Williams-Sonoma stock has already shed 18.5% in 2025.
Boeing Co (NYSE:BA) stock is leading the DJI today, last seen up 6.7% to trade at $172.30. Today's pop follows comments from CFO Brian West, who said at an investor conference that the company is in "fantastic" shape to make 38 of its 737 Max planes a month. BA could today mark its sixth gain in the last seven sessions, as well as its best day since July 2023. Moving back above its 20-day moving average, BA sports a 10.6% six-month lead.
HealthEquity Inc (NASDAQ:HQY) stock is one of the worst name on the Nasdaq today, gapping 19.1% lower to trade at $82.43, at last check. While the fintech name surpassed revenue estimates for the fourth quarter, profits missed the mark. Shares are looking to snap a three-day win streak with their biggest single-day percentage loss since December 2021, and earlier slipped to their lowest level since October. HQY is down 16% so far this year.