Trade talks are in focus ahead of today's monetary decision
Stocks are mixed midday as Wall Street awaits the Fed's latest interest rate decision, due out at 2 p.m. ET. Ahead of the event, CME’s FedWatch tool is pricing in a 100% chance that the central bank keeps rates steady. Meanwhile, U.S. trade talks are still in focus, particularly between China and Switzerland. The Dow Jones Industrial Average (DJI) is up triple digits at last glance, while the S&P 500 Index (SPX) sits flat, and the Nasdaq Composite (IXIC) sits modestly in the red.
Continue reading for more on today's market, including:
- 2 EV stocks on the move after quarterly results.
- Behind Uber stock's steep slide.
- Plus, options bulls target SRPT's nosedive; and two stocks moving opposite directions after earnings.
Options bulls are targeting plummeting Sarepta Therapeutics Inc (NASDAQ:SRPT) today, after the pharma name slashed its 2025 outlook. So far, 18,000 calls and 8,943 puts have been exchanged, which is more than quadruple the average daily options volume already. The May 40 put is the most popular, with new positions being opened there. At last glance, SRPT was down 17.5% at $38.55, and trading at nearly eight-year lows. Year-to-date, the shares are down 68.8%.
NerdWallet Inc (NASDAQ:NRDS) was last seen up 26.8% at $10.73, after the the company lifted its 2025 earnings forecast. The fintech name also announced a first-quarter revenue beat alongside breakeven earnings results, which is better than the estimated losses of 10 cents per share. No fewer than two analysts slashed their price targets after the event, while Truist Securities lifted its price objective by $1 to $19. Year-to-date, the equity is still down 19.7%.
Ceva Inc (NASDAQ:CEVA) is down 22.5% at last look today, after a first-quarter revenue miss but narrower-than-expected losses of 14 cents per share. Giving back a majority of its April gains, CEVA is currently down 33.7% in 2025.