The S&P 500 may join the Dow with a record high today
Stocks are mostly higher midday, as investors move back into software names and other valuable market areas. The Dow snapped up a third-consecutive intraday record-high earlier, with gains from Walt Disney (DIS), American Express (AXP), and Goldman Sachs (GS) helping the blue-chip index separate from 50,000.
The S&P 500 and Nasdaq have traded on both sides of the aisle and were last seen rangebound, with the former a chip shot from record highs. Elsewhere, the Cboe Volatility Index (VIX) is heading for a third-straight loss and lowest close in over a week.
- How long can this chip stock rebound last?
- Coca-Cola stock forecasted modest 2026 revenue growth.
- Plus, XENE traders lean bearish; DDOG's much-needed AI boost; and WDC's come-down.
Options traders are piling on Xenon Pharmaceuticals Inc (NASDAQ:XENE). So far, over 21,000 puts have changed hands -- 255 times the average intraday amount. The most popular contract is the April 40 put, with new positions being bought to open there. At last glance, the biotech stock was up 1.2% to trade at $42.93, after a price-target hike to $66 from $60.
Datadog Inc (NASDAQ:DDOG) is among other top performers on the Nasdaq today, after the software firm reported better-than-expected quarterly results with attributes to rising AI demand. At last check, shares are up 15.8% to trade at $130.93, putting the cloud company on track to mark its best single session gain since July 3 and third-straight positive session.
Western Digital Corp (NASDAQ:WDC) is one of worst names on the Nasdaq today, likely suffering from a bout of profit taking. Shares were last seen down 7.6% to trade at $264.32, though WDC is still well above its ascending 50-day moving average's support and not far off its Feb. 3 record high of $296.50.
