Investors are buying the dip, though sentiment remains shaky amid Middle East tensions
The Dow Jones Industrial Average (DJI) is lower midday, as investors react to the U.S.-Iran conflict, with potential escalation and its prolonged nature souring sentiment. The S&P 500 Index (SPX) is rangebound while the Nasdaq Composite (IXIC) is modestly higher, though all three major indexes are well off their session lows. The blue-chip index has pared a 500-point drop, with gold and defense stocks powering the pivot, while Wall Street also buys the dip on beaten-down tech stocks. Elsewhere, the Institute for Supply Management's (ISM) manufacturing index for January came in above analysts' estimates at 52.4, while the prices index jumped to 70.5.
- 2 oil stocks buoyed by rising crude prices.
- Lockheed Martin stock nabs record high.
- Plus, bulls pile on natural gas stock; PLTR pops; and cruise giant issues dismal forecast.
Venture Global Inc (NYSE:VG) stock is seeing an unusual amount of options activity today, with 22,000 calls traded -- 10 times the average intraday amount -- compared to 4,599 puts. The most active contract by far is the March 12.50 call, with new positions bought to open at the weekly 3/6 12 call. The natural gas name reported a fourth-quarter earnings beat, but missed revenue estimates. Shares were last seen up 18.9% to trade at $11.52, trading at their highest level since October and now up 66% year-to-date.
Palantir Technologies Inc (NASDAQ:PLTR) stock is up 5.5% to trade at $144.74 at last check, the software entity enjoying defense sector tailwinds. Palantir stock is on track for its fourth-straight gain, padding its 70.6% year-over-year lead. In 2026 though, PLTR is still nursing a 18% deficit.
Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) stock is toward the bottom of the SPX, down 9.7% to trade at $22.38. The cruise giant reported worse-than-expected revenue for the fourth quarter and a dismal 2026 earnings forecast. Tourism headwinds amid Middle East conflict are also weighing on the cruise sector. NCLH is on track for its worst single-session decline since a 15.4% post-earnings selloff on Nov. 4, and is now below its year-to-date breakeven level.
