The Dow and Nasdaq are both up over 250 points
Stocks are soaring today, supported by outsized gains from Big Tech names, while traders await the Federal Reserve's January meeting minutes, slated for 2:00 p.m. ET today. The Dow Jones Industrial Average (DJIA) and Nasdaq Composite (IXIC) are both up over 250 points midday, while the S&P 500 Index (SPX) is also confidently higher. Nvidia (NVDA) is a major winner today, charging up Wall Street after a large supply agreement with Meta Platforms (META).
- DVN stock advances on top- and bottom-line beat.
- Pharma stock sends short sellers to the hills.
- Plus, FLY bulls charge; WING's breakthrough; and bad news for ACLS.
Call traders are piling on Firefly Aerospace Inc (NASDAQ:FLY) today. So far, over 28,000 puts have changed hands -- nine times the average intraday amount, with no specific catalyst other than broad market strength. The most popular contract is the weekly 2/27 25-strike call, with new positions opening up at the weekly 3/6 27-strike call. FLY is up 4.9% to trade at $21.37, and but is still down 15.3% this month.
Wingstop Inc (NASDAQ:WING) is one of the top performers on the Nasdaq today, up 15.8% to trade at $291.49, after the restaurant favorite reported quarterly earnings that surpassed estimates and overshadowed a top-line miss. WING earlier broke past resistance at its 180-day moving average for the first time since September.
Axcelis Technologies Inc (NASDAQ:ACLS) stock is one of worst names on the Nasdaq today, after analysts digested weak guidance for the current quarter which overshadowed the company's fourth quarter earnings beat. Shares were last seen down 18.8% at $179.99 but still sport a 25% 12-month lead.