Big Tech volatility continues to plague the Nasdaq
The Dow Jones Industrial Average (DJI) is up nearly 350 points this afternoon, as a House vote slated for later today to end the government shutdown injects optimism into the market. The S&P 500 Index (SPX) is trading below breakeven despite financial sector strength, while the Nasdaq Composite (IXIC) shifts lower triple digits amid more Big Tech volatility.
Continue reading for more on today's market, including:
- Footwear stock sprinting higher after earnings.
- Bulls target software stock amid selling pressure.
- Plus, ALB calls hot; why AMD is surging; and what's hurting Paramount Skydance stock.
Seeing
unusual options activity today is
Albemarle Corp (NYSE:ALB) stock, with 44,000 calls traded so far today -- 7 times the intraday average amount -- compared to 4,374 puts. Most popular is the January 16, 2026 135-strike call, with new positions opening there. ALB is up 4.3% to trade at $108.35 at last glance, on track for its fourth-straight gain. The security earlier hit a fresh year-to-date high of $110.63, after bouncing off familiar support at the $90 level. In the last nine months, ALB has added over 40%.
Advanced Micro Devices Inc (NASDAQ:AMD) stock is leading the SPX today, last seen up 9% at $259. This bull gap follows comments from executives, noting the chip company's operating margins could increase 35% in the next three to five years, and that the
AI data center market will be worth $1 trillion by 2030. AMD boasts an impressive 116% lead for 2025, and is trading within striking distance of its Oct. 29, record high of $267.08.
Paramount Skydance Corp (NASDAQ:PSKY) stock is at the opposite end of the SPX, pacing the laggards with a 6.2% drop to trade at $15.69. The equity is brushing off yesterday's earnings beat and a price-target hike from Bernstein to $12 from $11, amid news that
600 employees quit after the company required a full return to the office, with severance packages adding up to $185 million. PSKY sports a 52% year-to-date lead, and has struggled with resistance at the 50-day moving average since late-October.