All three major indexes are sporting quiet gains
All three major indexes are modestly higher this afternoon, as investors attempt to shake off jitters from this morning's jobs data, which showed private payrolls growing at the slowest rate in two years. Meanwhile, the ISM services purchasing managers' index (PMI) fell to 49.9% in May, inching into contraction territory for the first time since June 2024 and below the estimated 52.1%.
Continue reading for more on today's market, including:
- Software stock plummeting despite quarterly beat.
- The Fed lifted its long-standing asset cap on Wells Fargo.
- Plus, options traders eye HPE; GRWE gaps to record highs; and CRWD drops after mixed results.
Options traders are targeting Hewlett Packard Enterprise Co (NYSE:HPE) today, following the tech name's better-than-expected fiscal second-quarter results amid strong artificial intelligence (AI) demand. So far, 49,000 calls and 22,000 puts have been exchanged, which is already 3.8 times the overall options volume HPE typically sees in an entire session. The June 18 call is the most popular, where new positions are being bought to open. At last check, the stock was up 0.7% at $17.81, paring earlier gains and back below resistance at $18 after grappling with its 320-day moving average. Year-to-date, HPE is down 16.6%.
Guidewire Software Inc (NYSE:GWRE) was last seen up 19.5% at $260.66, gapping to record highs after the company posted better-than-expected fiscal third-quarter results and raised its full-year forecast. No fewer than eight analysts lifted their price targets after the event, including RBC Capital to $290 from $230. Year to date, the equity is up 53.8%.
CrowdStrike Holdings Inc (NASDAQ:CRWD) is down 4.5% at $467.00, after the cybersecurity company's mixed first-quarter results and weak second-quarter sales guidance. Falling from last session's record highs, the equity is up 36.6% in 2025.