The Dow, S&P 500, and Nasdaq have all traded on both sides of the aisle this morning
Stocks are trading at or below fair value today, with the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) rangebound, while the Dow Jones Industrial Average (DJI) sinks 78 points, at last check. All three major indexes were modestly higher at the open, but have since pared gains, as investors largely brush off the latest jobs data. Elsewhere on Wall Street, natural gas futures are at three-year highs, while silver prices continue to retreat from record levels.
Seeing an uptick in options volume today is tech giant Hewlett Packard Enterprise Co (NYSE:HPE) stock, just ahead of its fiscal fourth-quarter report, which is due out after the close today. At last check, 62,000 contracts have changed hands, volume that's six times the average intraday amount. The December 18 put for 2026 is the most popular by far, with new positions being bought to open. HPE is up 2.6% to trade at $22.84 and only 5% higher on the year, but is heading for its eighth win in the last nine sessions.
GE Vernova Inc (NYSE:GEV) is near the top of the New York Stock Exchange (NYSE) today, last seen up 4.1% to trade at $626.97. The spinoff energy equipment conglomerate just inked a supply deal with Greenvolt Energy to supply, install, and commission wind turbines in Romania next year. GE is up 90% in 2025 and is trading at its highest level since Oct. 15, breaking out of recent consolidation below $600.
Shares of Micron Technology Inc (NASDAQ:MU) are weighing on the Nasdaq today, down 3.5% to trade at $225.95. Per The Wall Street Journal, the chipmaker is shutting down its crucial consumer business and pivoting more resources toward hyperscalers and AI data center-driven customers. MU is also brushing off a price-target hike from Mizuho to $270 from $265. Despite today's breather, Micron stock is up roughly 170% in 2025.