Investors are cheering the prospect of no interest rate hike later this month
Stocks are confidently higher today, as upbeat inflation data helps restore some of Wall Street's risk-on appetite. Per CME's FedWatch, there's only a 17% chance that the Federal Reserve will hike interest rates at its July meeting next week. The Dow Jones Industrial Average (DJI) is up triple digits, with many notable gainers in Big Tech. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also modestly higher, while the small cap Russell 2000 (RUT) makes another run toward 3,000.
Continue reading for more on today's market, including:
- Surging chip supplier stock you should know about.
- This earnings season, we have a special offer for you.
- Plus, fintech bulls hone in; Cintas earnings impress; and SanDisk keeps cooling.
dLocal Ltd (NASDAQ:DLO) stock is getting attention from options bulls today. At last look, over 26,000 calls have changed hands, volume that's six times the average intraday amount. The August 15 call leads the charge, followed closely by the December 17 call. dLocal stock is up 0.4% to trade at $14.91 today and boasts a 36% year-over-year gain.
Cintas Corp (NASDAQ:CTAS) stock is near the top of the Nasdaq today, up 5.8% to trade at $195.10. The uniform rental giant reported earnings and revenue above expectations, while also issuing an upbeat revenue forecast thanks to resilient demand. CTAS is trading at its highest level since early March, and is back above its year-to-date breakeven level today.
SanDisk Corp (NASDAQ:SNDK) is sitting out today's rally, down 12.7% to trade at $1,535.15 after Argus Research initiated coverage on the NAND flash maker with a "hold" rating. SanDisk stock is now down 32.5% this quarter alone, but still retains a 545% year-to-date lead.
