All three indexes are still on track for weekly losses, though
Stocks are trading higher midday, after weaker-than-expected inflation data boosted investor sentiment. The S&P 500 Index (SPX), Dow Jones Industrial Average (DJIA), and Nasdaq Composite (IXIC) have all turned higher after a choppy start, though all three major indexes are still on track for weekly losses.
Elsewhere, gold prices are in focus, with the safe-haven metal up 1%. Despite the choppy week, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) is back below 20.
- Roku stock buzzing after bundle plans, earnings beat.
- Applied Materials stock cannot be stopped.
- Plus, bulls charge on FSLY; COIN bounces back; and more on PINS' demise.
Fastly Inc (NASDAQ:FSLY) is seeing an unusual amount of options activity after yesterday's surge. So far, over 42,000 calls have changed hands -- 10 times the average intraday amount. The most popular contract is the weekly 2/13 18-strike call, followed by the March 20 call, with new positions being bought to open at both.
Coinbase Global Inc (NASDAQ:COIN) is one of the top performers on the Nasdaq today. The crypto company reported lower-than-expected quarterly earnings and revenue, however investors are cheering the free cash flow and brushing off the flurry of bear notes. At last look, COIN was up 14.9% to trade at $162.12, but the shares are still down 45% year over year.
Pinterest Inc (NYSE:PINS) is one of worst names on the New York Stock Exchange (NYSE) today, after quarterly earnings and revenue missed forecasts, while overall profit slid. Shares were last seen down 21.5% at $14.56 and should today's losses hold, the stock will close at its lowest level in more than 5 years.