Investors are brushing off the extended government shutdown
Another boost from AI stocks and big bank earnings is boosting market sentiment this afternoon. All three indexes are comfortably higher, with the Nasdaq Composite (IXIC) enjoying a triple-digit jump. Tech outperformance is allowing investors a reprieve from recent U.S.-China trade tensions, as well as the government's continued funding impasse, which has extended the country's shutdown for a third week.
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Hilton Hotels Corporation (NYSE:HLT) stock is seeing unusual activity in the options pits today, after the hospitality company said it completed a $22 million renovation of its Oklahoma City branch. Last seen down 1.5% at $261.08, HLT is clinging to its month-to-date breakeven mark, with additional support seen at the 120-day moving average and $260 level. So far, 45,000 calls and 4,028 puts have crossed the tape, which is 54 times the average intraday pace. Most popular is the November 259.01call, where positions are being bought to open.
Electronics manufacturing name Fabrinet Inc (NYSE:FN) is up 6.3% at $423.50at last glance, one of the best stocks on the New York Stock Exchange (NYSE) today. Shares are higher after J.P. Morgan Securities maintained its "overweight" rating and hiked its price objective to $430 from $345. FN is eyeing its best day since Sept. 4 and is 93% higher in 2025.
On the flip side, pacing the losers on the NYSE is Hewlett Packard Enterprise Co (NYSE:HPE), down 10.4% at $22.43 after the company shared a disappointing fiscal 2026 outlook. Today's pullback has dragged HPE into red territory for the week, month, and quarter, as well as its worst daily drop since March 7.