April Consumer sentiment came in below expectations
Looking to close out the volatile week on a high note, all three major indexes are carrying healthy daily and weekly gains this afternoon, as the 10-year Treasury yield and crude prices continue to cool. Hope surrounding an approaching peace deal between the U.S. and Iran is also in focus, sending the Dow Jones Industrial Average (DJI) up triple digits to a fresh record high.
The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also continuing higher, while investors digest consumer sentiment data that fell for a third-straight month. April consumer sentiment fell to 44.8, beneath the 49.8 estimate, indicating uncertainty surrounding the future of inflation.
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Seeing ample attention in the options pits today is Workday Inc (NASDAQ:WDAY), last seen up 4.2% to trade at $126.92. After yesterday's close, the software company posted a first-quarter earnings and revenue beat while also lifting its full-year profit outlook. WDAY remains off 41% year-to-date, but options traders have been quick to respond, with 20,000 calls and 13,000 puts across the tape so far, four times the average daily rate. Most popular are the weekly 5/22 130- and 140-strike calls.
Near the top of the New York Stock Exchange (NYSE) is HP Inc (NYSE:HPQ), up 15.1% at $25.21 and eyeing its best weekly performance since March 2020, enjoying a halo lift from peer Lenovo's (LEN) impressive revenue. HPQ is also eyeing its highest close of 2026 and sports a 32% gain for the quarter.
Discount retailer BJ's Wholesale Club Holdings Inc (NYSE:BJ) is near the bottom of the NYSE, last seen down 8.3% to trade at $86.63, brushing off its first-quarter earnings and revenue beat. BJ is eyeing its lowest close since late November, earlier slipping as low as $86.11, now back below its year-to-date breakeven mark. Several breakout attempts this year have been thwarted by either the $100 level or 260-day moving average.
