Attacks between Israel and Iran are continuing for a sixth-straight day
Stocks are higher this afternoon, with the Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) up triple digits, while the S&P 500 Index (SPX) also sports a strong lead. Investors are brushing off a sixth-straight day of attacks between Israel and Iran, as well as remarks from Iran's supreme leader Ayatollah Ali Khamenei noting the country would inflict "irreparable damage” if the U.S. steps into the conflict. Also in focus is the conclusion of the Federal Reserve's two-day policy meeting, with comments from Fed Chairman Jerome Powell to follow.
Continue reading for more on today's market, including:
- Korn Ferry stock surges after strong quarter.
- Upbeat guidance props steel stock higher.
- Plus, VERV takes a breather; TKO Group's new executive; and falling oil prices ding HAL.
Verve Therapeutics Inc(NASDAQ:VERV) stock is attracting unusual options volume today, with 17,000 puts traded so far -- 21 times the amount normally seen at this point -- compared to only 1,342 calls. Most active is the August 10 put, where positions are being opened. The security was last seen down 2.1% to trade at $11.15, taking a breather from yesterday's 81.5% surge that followed news that Eli Lilly (LLY) will buy the company for roughly $1.3 billion. Jefferies and Wainwright downgraded VERV to "hold" and "neutral" earlier, respectively, while J.P. Morgan Securities cut its price target to $12 from $16. Shares boast a 97.4% lead for 2025, however.
TKO Group Holdings Inc (NYSE:TKO) stock is towards the top of the SPX today, last seen up 4.7% at $175.81. This comes after the parent of World Wrestling Entertainment (WWE) appointed a new senior vice president of government affairs. The security sports a 23.6% year-to-date lead, and earlier surging to its highest level since February with support from the 40-day moving average.
Oil stock Halliburton Co (NYSE:HAL) is one of the worst names on the SPX today, down 2.4% at $22.47 at last check, with crude prices tumbling in response to President Donald Trump's comments that Iran wants to negotiate amid geopolitical tensions. HAL is 17.5% lower so far this year, despite yesterday surging to its highest level since April.