The Dow is struggling this afternoon
Trade talks are in focus, ahead of negotiations between U.S. and Chinese officials, which will begin in Switzerland this weekend. The Dow Jones Industrial Average (DJI) is down triple digits midday, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) sit flat. All three major benchmarks are eyeing their first weekly losses in three, following several days of volatile trading.
Continue reading for more on today's market, including:
- Plenty of upbeat metrics fueling Lyft stock's rally today.
- Upbeat forecast boosts Pinterest stock.
- Plus, options traders blast soaring TTD; DFDV up 25%; and REAL plummets.
Trade Desk Inc (NASDAQ:TTD) is the most popular stock amongst options traders today, with 174,000 calls and 72,000 puts exchanged so far -- 9 times the average daily options volume. Expiring today, the weekly 5/9 75-strike call and 80-strike call are the most popular, with new positions opening at both. At last glance, TTD was up 21.4% at $72.73, heading for its sixth-straight win and best single-day percentage gain since February 2023. Gapping former pressure at the 60-day moving average, the equity is still down 38.4% as it distances itself from last month's two-year lows.
Fintech stock DeFi Development Corp (NASDAQ:DFDV) is up 25.5% at $70.77 at last glance, after the company yesterday morning announced the closing of a $24 million private placement, which will be used for general corporate purposes. Year over year, the equity is up 632%.
Online marketplace RealReal Inc (NASDAQ:REAL) is down 29.1% at $5.16 at last look, looking to snap a six-day win streak, after wider-than-expected first-quarter losses of 14 cents per share and a revenue miss. UBS raised its price target to $7 from $6, however. Since the start of the year, REAL is down 52.7%.