The major indexes are trading mixed at midday
Stocks are mixed midday as investors continue to keep an eye on elevated U.S. Treasury yields, as well as President Trump's tax bill, which is now headed to the Senate. The Nasdaq Composite Index (IXIC) is up 100 points, while the S&P 500 Index (SPX) trades flat, and the Dow Jones Industrial Average (DJI) sits modestly lower.
Meanwhile, the S&P flash services purchasing managers' index (PMI) and manufacturing PMI both came in at higher-than-expected readings of 52.3, representing expansion.
Continue reading for more on today's market, including:
- 2 solar stocks drop as tax bill moves forward.
- Cloud stock continues to rally, hitting 52-week highs.
- Plus, options traders target WYNN; DOMO soars after earnings; and another solar stock feeling the heat.
Options bulls are targeting Wynn Resorts Ltd (NASDAQ:WYNN), as it heads for its fifth-straight daily loss. So far, 68,000 calls have been exchanged -- 20 times the call volume typically seen at this point -- in comparison to 4,772 puts. The September 80 call is the most active contract, with new positions being opened there. At last glance, WYNN was down 2.1% at $89.57.
Software stock Domo Inc (NASDAQ:DOMO) was last seen up 31.2% at $11.22, after stronger-than-expected first-quarter results. No fewer than three analysts lifted their price targets after the event, including D.A. Davidson to $9 from $8. Trading at fresh 52-week highs, DOMO is up 60.3% year to date.
Solar stock Sunrun Inc (NASDAQ:RUN) is down 39.6% at $6.43 at last glance as Trump's tax bill moves through the White House. Pulling back from its mid-May seven-month highs, the equity is down 29.7% year to date, and on track for its worst daily drop on record.
