Investors are disappointed no policy changes came out of the China summit
Though paring back from even steeper early losses, stocks remain notably lower midday, as investors digest lackluster results from President Donald Trump's China summit, as well as a pullback in tech. The Dow Jones Industrial Average (DJI) is 407 points lower, while the Nasdaq Composite (IXIC) also sports a significant drop. Wall Street is also seeing a surge in crude prices and Treasury yields. The S&P 500 Index (SPX) carries a more modest loss, though the Nasdaq and blue-chip index have swung in and out of positive territory for the week.
Honeywell International Inc (NASDAQ:HON) stock is down 2.1% to trade at $211.91, sinking with the broader market selloff. Options traders are circling the equity, however, with 41,000 calls across the tape so far, 13 times the average daily rate. Most popular are both the June and July 230 calls, with selling activity detected at the former. The overhead $220 ceiling has capped multiple breakout attempts this past week, though HON remains up 8% in 2026.
Yeti Holdings Inc (NYSE:YETI) is one of the top stocks on the New York Stock Exchange (NYSE) today, last seen up 5% to trade at $42.74, enjoying a second day of healthy gains after yesterday's upbeat quarterly report, including a full-year forecast hike. The $44 level and 100-day moving average capped gains Thursday, with the equity still attempting to overtake its year-to-date breakeven level.
A broader sector pullback for metals has sent First Majestic Silver Corp (NYSE:AG) to near the bottom of the NYSE, last seen down 11.6% to trade at $20.05. AG is headed for a third-straight daily drop, adding to its now 5.6% quarter-to-date deficit. The equity was rejected at the $24 level earlier this week, an area that has kept a lid on shares since mid March.