Micron Technology stock is surging 15% at midday
Despite the U.S. retaliation strikes against Iran this morning, investors remain hopeful for a conclusion to the now multi-month conflict. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are higher, with Big Tech driving most of today's upbeat sentiment, with Micron Technology (MU) surging on the back of several bull notes. On the flip side, the Dow Jones Industrial Average (DJI) has pulled back from its early morning gains, last seen down 105 points. Treasury yields and crude continue to cool, with oil prices down 2.3% at last glance.
Continue reading for more on today's market, including:
- Nuclear energy stock breaking out today.
- Memorial Day week market data you don't want to miss.
- Plus, China-based retailer options hot; utilities stock surging; and a quantum name pulling back.
China-based retailer Vipshop Holdings Ltd (NASDAQ:VIPS), last seen up 3.2% to trade at $14.86, looking to chip away at its steep year-to-date deficit of 17%. Options traders are circling this afternoon, with 5,047 puts across the tape so far, 136 times the average daily rate. Most popular are the June 14 put and June 15 call, with sell-to-open activity detected at the former.
Near the top of the New York Stock Exchange (NYSE) is NuScale Power Corp (NYSE:SMR), up 7.6% at $12.27 at last glance. The utilities stock is looking to chip away at its 11% year-to-date deficit and extend its daily win streak to four. Surging alongside the broader market, SMR has been on a tear this quarter, though the overhead $12.50 level and 80-day moving average remain markers of contention for the stock.
Quantum name IonQ Inc (NYSE:IONQ) is near the bottom of the NYSE, last seen down 2.5% to trade at $62.08, pulling back from its recent run higher. The computer hardware maker remains up 116% for the quarter and a chip-shot from its October highs, however, after last week's three-day pop.