The Dow has reversed its early gains
The Dow Jones Industrial Average (DJI), Nasdaq Composite (IXIC), and S&P 500 Index (SPX) are all a mixed bag this afternoon, with investors focused on Fed Chair Jerome Powell's two-day Capitol Hill testimony. The S&P 500 is within a chip-shot of a record peak, as traders lean into easing Middle Eastern tensions. Eyes are also on North Atlantic Treaty Organization (NATO), which voted to increase their defense spending target to 5% -- an optimistic outlook for U.S. defense stocks over the next 10 years.
Continue reading for more on today's market, including:
Artificial intelligence (AI) name Five9 Inc (NASDAQ:FIVN) is popping in the options pits, with 25,000 puts traded so far, a whopping 67 times the average pace of trading. Spread activity is detected, with over 12,500 contracts of the 22.50-strike put for both July and August expiration. This suggests some are projecting the equity will continue its pullback to $22.50 or lower in the next two months. The shares were last seen off 1.7% to trade at $26.53, and sport a year-over-year deficit of 32%.
Worthington Enterprises Inc (NYSE:WOR) is one of the best stocks on the New York Stock Exchange (NYSE) today, up 4% at $62.55 at last check, after the consumer products maker posted a fiscal fourth-quarter earnings and revenue beat. The shares earlier touched a record high of $70.38 and now boast a 60% year-to-date lead.
One of the worst stocks on the NYSE today is nuclear energy giant NuScale Power Corp (NYSE:SMR), down 9% to trade at $39.45 at last check. This morning, SMR was downgraded to "neutral" from "buy" at BTIG, but the stock remains 120% higher for 2025, with its most recent pullback captured by the 20-day moving average.
