A tech sector rotation is souring sentiment on Wall Street
The Dow Jones Industrial Average (DJI) notched a fresh record right out of the gate but has since cooled, with the blue-chip index now down triple digits. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have also slipped into the red, as investors continue to dump tech names and shrug off Palantir Technologies' (PLTR) post-earnings pop. On the upside, Merck’s (MRK) strong quarterly results are helping prop up the Dow, while a sharp rebound in gold prices -- last seen up roughly 6.5% -- is impacting sentiment.
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- Unpacking Teradyne stock's fourth-quarter blowout.
- Plus, SE bears growing bold; DaVita's stellar pop; INTU's steep 2026 decline.
Sea Ltd (NYSE:SE) is getting attention from options traders today. At last look, over 20,000 puts have changed hands today, volume that's 10 times the average intraday amount. The February 130 put is most popular, while new positions are being bought to open at the June 100 put. SE is down 6.7% to trade at $105.97 today, the Singapore-based software stock now trading at its lowest level since April and down 13% year-over-year.
DaVita Inc (NYSE:DVA) is one of the best performers on the New York Stock Exchange (NYSE) today after releasing mixed quarterly results, last seen up 25% to trade at $138.97, eying its best single-session pop in roughly 25 years. The company earlier broke past over head pressure from the 200-day moving average for the first time since November.
Intuit Inc (NASDAQ:INTU) is one of worst stocks on the Nasdaq today, last seen down 9.8% at $439.51. The security has led a sharp decline since the beginning of the year and earlier marked its lowest level since June 2023. The stock is on track to close below the 360-day moving average for the first time in 13 months. Over the past six months, INTU shares are down 43.2%.