Stocks are lower this afternoon, as Wall Street digests a fresh wave of disappointing economic data. Both the Dow Jones Industrial Average (DJI) and tech-heavy Nasdaq Composite (IXIC) are down triple digits, as the S&P 500 Index (SPX) also sits firmly in red territory.

The selloff follows this morning’s weaker-than-expected GDP reading and private sector payrolls, which reignited recession fears and cast doubt on April’s stock market rebound. Investors are also questioning the longer-term economic impact of President Trump’s aggressive trade policies, which many fear will further pressure the economy.

Continue reading for more on today's market, including: 

• 2 stocks suffering after post-earnings bear notes.
• Super Micro Computer's dismal quarterly outlook.
• Plus, options traders blast HUM; TT rallies amid revenue growth; and NCLH sinks on weak results.

Humana Inc (NYSE:HUM) is seeing elevated options activity this afternoon, with 7,228 calls and 4,176 puts traded so far -- double the average intraday volume. New positions are being opened at the most active contract, the weekly 5/2 325-strike call. The health insurance stock is down 0.6% at $257.83 at last check, despite the company reporting stronger-than-expected first-quarter earnings of $11.58 per share, topping estimates of $10.07 per share. Over the last nine months, HUM shed 29.3%.

Trane Technologies (NYSE:TT) is one of the best-performing stocks on the New York Stock Exchange (NYSE) this afternoon, last seen 7.4% higher at $379.84. The company reported double-digit revenue growth for the first quarter and a profit beat, reaffirmed its full-year guidance, and noted it is tracking toward the higher end of its forecast ranges. The equity is now slightly above its year-to-date breakeven level and boasts a 19.6% gain over the last 12 months.

Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) is one of the worst-performing stocks on the NYSE today, last seen down 8.4% at $15.92. The cruise operator missed first-quarter estimates, reporting adjusted earnings of 7 cents per share on $2.13 billion in revenue, versus expectations of 9 cents on $2.15 billion. While the company kept its full-year earnings guidance of $2.05 per share, CEO Harry Sommer noted a cautious view of the “evolving macroeconomic environment.” NCLH is down 40% year to date and just gapped back below its 20-day moving average.

Super Micro Computer Inc (NASDAQ:SMCI) stock is 16.4% lower to trade at $30.11 at last check, after the company lowered fiscal third-quarter profit and revenue guidance well below analysts' expectations. The software concern noted customers postponed orders for its servers and computing products, delaying up to $1.4 billion in sales.

In response, thee firms slashed their price objectives, including J.P. Morgan Securities to $36 from $39. More downward price revisions could be in store, too, as SMCI's 12-month consensus target price of $48.62 is currently a 62.3% premium to current levels.

Testing recent support at the $30 level, the security is well on its way to its worst day since November. The $40 region has acted as a ceiling since late February, following the security's rally to its highest level since August, while the 60-day moving average has been enacting pressure as well, contributing to SMCI's 65.2% year-over-year deficit.

Drilling down to today's options activity, 135,000 calls and 107,000 puts have crossed the tape so far, which is triple the intraday average volume. Most active is the weekly 5/2 30-strike put, where new positions are being opened.

Calls have been much more popular than usual in the options pits. This is per the security's 10-day call/put volume ratio of 2.61 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks in 96th percentile of its annual range.

Renewable energy stock First Solar Inc (NASDAQ:FSLR) is down 9.7% at $123.90 at last glance, after the company posted a first-quarter earnings and revenue miss and lowered its annual sales and profit outlook. CEO Mark Widmar said tariffs create an unexpected and "significant economic headwind." 

Oppenheimer downgraded First Solar stock to "perform" from "outperform" after today's events, while Keybanc cut its rating to "underweight" from "sector weight." Plenty of other analysts slashed their price targets as well. More bear notes could be on the way, as 29 of the 34 analysts in coverage still carry a "buy" or better rating, while the 12-month consensus price target of $212.34 sits at a hefty 70% premium to current levels. 

Today's drop has FSLR moving back toward its April 9 two-year low of $116.56 and its worst daily drop since February. However, support at the $120 level looks to be holding steady. Since the start of the year, the equity is down 29.2%. 

So far today, 36,000 calls and 37,000 puts have crossed the tape, which is 7 times the overall options volume typically seen at this point. The June 120 and 90 puts are the most popular, with new positions being sold to open at the May 140 call. 

Earnings are dominating the spotlight today, but two names are standing out from the pack. Starbucks Corp (NASDAQ:SBUX) and Snap Inc (NYSE:SNAP) are moving sharply lower after their respective quarterly reports failed to impress investors.

Starbucks Stock Slides on Earnings Miss

Starbucks stock is 10.1% lower before the bell, after the coffee chain missed analysts' expectations for its fiscal second-quarter report. Revenue came in at $8.7 billion, falling short of estimates , while U.S. same-store sales declined 2%. Despite the weak results, CEO Laxman Narasimhan struck an optimistic tone, noting the company is where it should "should be at this point in our turnaround.”

Following the results, Stifel cut its price target on Starbucks to $92 from $103, and at least 10 other firms followed suits with downward price revisions as well. The equity's average 12-month target price of $93.98 represents a 10.6% premium to last night’s close.

Shares are set to open around the $76 level, which previously acted as support during an early April pullback. The security is also on track to extend its year-to-date deficit, which currently stands at 7%.

Snap Stock Tanks After Pulling Guidance

Snap stock is off 15.2% in premarket trading, after the social media firm posted slightly better-than-expected first-quarter revenue but withheld second-quarter guidance, citing macroeconomic uncertainty. The company cited “headwinds” that emerged early in the current quarter, prompting a more cautious tone.

MoffettNathanson cut its price target to $1 from $8 in response, with 11 other analysts slashing their price objectives as well. The consensus 12-month target price of $10.05 still implies a 31.7% premium to Tuesday’s close.

SNAP is now pacing to snap a six-day winning streak and is down 15.6% in 2025. The stock’s early losses suggest a breakdown of recent momentum, as it pulls back from a failed attempt to reclaim its mid-March highs.

Even if you are not an avid trader, you have likely heard the stock market maxim “sell in May and go away.” The data in the table below shows where this saying comes from. Over the past 40 years, May through October has been the worst six-month timeframe for the S&P 500 Index (SPX). The index has averaged a return of 2.45% from May through October, compared to 7.29% for the other six months out of the year.

Despite 73% of the returns being positive, the underperformance is mainly due to limited upside and more downside when compared to the other six months of the year. With May about to kick off, now is a good time to look at how the next six months usually perform when we’ve just had six months of poor returns. I’ll also list some stocks that usually buck this trend, as well as others that are best to avoid.

Momentum, Not Reversion 

I thought that if the market was down in the preceding six months heading into May, the SPX might tend to bounce back in the next six months. Instead, the prior six months seems to create momentum for the next six months. Since the end of October, the SPX shed to 3%. When the index has been down over the prior six months, the next May through October has averaged a negative return of 2.6%, with just half of the returns positive.

The table below shows each time the SPX was down in the six months leading into May. The last time was in 2022, and the SPX fell 6.3% over the next six months. On a hopeful note, each of the three times before that, the index was positive, with two of those times gaining over 10%.

Notable Stocks for May Through October 

As promised, here’s a list of stocks that tend to perform well over the next six months, despite the seasonality headwinds. Cintas (CTAS) is the only stock to beat the SPX in each of the last 10 years and be positive each time as well. Big Tech megacaps Apple (AAPL), Nvidia (NVDA), Alphabet (GOOGL), and Microsoft (MSFT) are also on this list.

Finally, this next list of stocks features those that have been the least likely to beat the SPX, even during the worst six months of the year for the index.

Roku Inc (NASDAQ:ROKU), one of our top stock picks of 2025, is up 2.4% to trade at $69.75 today. The streaming company's first-quarter earnings report is due out after the close on May 1, and options bears have been growing bolder ahead of the event. 

Roku has a history of volatile post-earnings moves. The stock gapped higher by 14.1% after an upbeat report in February, and but shed 17.3% after a dismal report in late October. Overall, the stock averaged a post-earnings move, regardless of direction, of 16.5% after the last eight reports. This time around, the options market is pricing in a larger-than-usual post-earnings swing of 20.4%.

ROKU is in the midst of an eight-day win streak, trimming its year-to-date deficit down to 6.3% after trading as low as $52.53 earlier this month. The rally has the shares testing their 50-day moving average, a trendline that hasn't been cleared on a closing basis since March.

Puts have been much more popular than usual in the options pits. ROKU's 10-day put/call volume ratio of 0.53 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 85% of readings from the past year. So while calls still outflank puts on an absolute basis, the high percentile suggests the ratio is on an uptick that nears an annual high rate.

There has been renewed interest in the cryptocurrency sector under President Donald Trump, amid speculation that the current administration may loosen currents regulations. Subscribers to Schaeffer's Grand Slam Countdown tripled their money with our iShares Bitcoin Trust ETF (NASDAQ:IBIT) 4/25 49.50-51.50 strike call debit spread, so now is a good time to unpack the reasoning behind this winning bet.

At the time of our recommendation on April 20, IBIT's pullback into its April lows was holding at its 20-day moving average, its average volume weight average price (VWAP) since inception, as well as the intersection of the 20-, 50-, and 200-day trendlines. Plus, the security had taken out several three levels of interest in the $47-$68 region just the week prior, including 10% above its April 8 low.

Implied volatility (IV) for IBIT options was quite modest, sitting in the low 7th percentile of annual readings. Additionally, it was 26 points below average true-range based volatility.

Shares were just beginning to rally when subscribers initiated their positions, ultimately stringing together seven-straight gains to close above the $52.50 level for the first time since February. Right before the equity snapped its win streak, subscribers closed their positions and collected their 225% profit.

Fintech stocks SoFi Technologies Inc (NASDAQ:SOFI) and PayPal Holdings Inc (NASDAQ:PYPL) are in focus today, after both companies announced better-than-expected first-quarter earnings and revenue results. SoFi Technologies also lifted its full-year forecast, while PayPal maintained its profit outlook. 

SOFI was last seen up 1.9% at $13.45, heading for its sixth-straight win. Though the stock jumped over the $14 level earlier today, it will be interesting to see if it is ultimately rejected there once again, as it was in late March. Year to date, the equity is down 13.4%. 

PYPL was up 2% at $66.26 at last check, though the 50-day moving average appears to be keeping a cap on gains. Since the start of the year, the stock is down 22.8%. 

Sector peer Block Inc (NYSE:XYZ) will announce its latest earnings report after the close on Thursday, May 1. Analysts expect earnings of 48 cents per share, compared to the 47 cents per share reported in the same quarter a year ago. XYZ was last seen up 0.9% at $58.84 today, brushing off a hefty price-target cut from Deutsche Bank to $75 from $125. 

Stocks are higher this afternoon, with the Dow Jones Industrial Average (DJI) up 228 points and eyeing its sixth-straight win -- its best streak since July 2024. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are also higher, the latter pacing for a sixth consecutive gain -- the longest since November 2024.

Investors are brushing off consumer confidence data, which took a turn for the worse in April. The Conference Board’s index dropped to 86 -- its lowest level in nearly five years -- as tariff concerns and weakening job market sentiment weighed. Expectations for the next six months fell sharply to the lowest level since 2011, a reading the board said is consistent with a recession.

Continue reading for more on today's market, including: 

• Spotify stock moved lower after a mixed first quarter.
• What Wall Street's “spurtability” means for investors.
• Plus,  UPS options pop after earnings beat; SHW rallies on strong results; and EAT sinks despite topping expectations.

United Parcel Service Inc (NYSE:UPS) is seeing unusual options activity today. So far, 31,000 calls and 20,000 puts have been traded -- 4 times the average intraday volume -- with new positions being opened at the three most popular contracts, led by the weekly 5/2 100-strike call. UPS beat first-quarter earnings expectations with $1.49 per share on $21.5 billion in revenue, and also announced plans to slash 20,000 jobs as part of broader cost-cutting measures. Shares were seen down 0.2% at $96.88, and sport a 23.1% year-to-date deficit.

Sherwin-Williams Co (NYSE:SHW) is one of the best-performing stocks this afternoon, last seen 5.1% higher at $349.06. The paint and coatings company reported better-than-expected first-quarter earnings of $2.25 per share, but revenue of $5.31 billion fell short of estimates. SHW is now extending its year-over-year lead to 13.8%, and today’s gap higher has it moving above its 40-day moving average for the first time since early April.

Brinker International Inc (NYSE:EAT) is one of the worst-performing NYSE stocks today, last seen down 14.7% at $137.11. Despite posting better-than-expected fiscal third-quarter earnings and revenue, the Chili’s and Maggiano’s parent is pulling back to its year-to-date breakeven level, and shed 10.6% over the last three months. Brinker reported adjusted earnings of $2.66 per share on $1.41 billion in revenue, topping Wall Street’s estimates, but traders appear to be locking in profits after the stock’s recent strength.