All three major benchmarks are on track for weekly wins
Stocks are rallying this afternoon, thanks to better-than-expected nonfarm payrolls data for May. The Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) are both up triple digits, while the S&P 500 Index (SPX) is also higher after earlier hitting 6,000 for the first time since February. Despite more headlines around the feud between President Donald Trump and Tesla (TSLA) CEO Elon Musk, all three major benchmarks remain on track for weekly gains.
Continue reading for more on today's market, including:
Applied Digital Corp (NASDAQ:APLD) stock is getting blasted in the options pits today, with 224,000 calls and 58,000 puts exchanged so far -- 7 times the volume typically seen at this point. The weekly 6/6 15-strike call is the most active contract, with new positions opening there. APLD was last seen 19.2% higher to trade at $15.22, after the company inked a deal with CoreWeave (CRWV) that is expected to bring in $7 billion in revenue over 15 years. Shares earlier surged to a fresh three-year high of $15.17, and sport a 207% year-over-year lead.
Micron Technology Inc (NASDAQ:MU) is near the top of the SPX today, last seen up 3.7% to trade at $110.30, after earlier surging to its highest level since December. The chip stock sports a more than 30% lead for 2025, and is today eyeing its fifth-straight daily gain and best weekly performance since September. MU blasted past overhead pressure at the $100 early this week, with support from its 20-day moving average.
Mosaic Co (NYSE:MOS) stock is one of the worst performers on the SPX today, down 3.5% to trade at $35.11 at last glance, after the company lowered its phosphates sales and production guidance for the fiscal second quarter and full year. MOS is pulling back from yesterday's 52-week high of $37.69, but still sports a healthy 42.3% lead for 2026.