Stocks are rallying this afternoon, with both Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) up triple digits -- the latter lifted by strong gains in megacap tech stocks like Nvidia (NVDA), Meta Platforms (META), Amazon.com (AMZN), Tesla (TSLA), and Microsoft (MSFT). All three major indexes are on track for third-straight gains.

Despite the bounce, sentiment remains fragile. China said no trade talks are currently underway and called for the cancellation of “unilateral” U.S. tariffs -- a sharp contrast to recent remarks from President Trump and Treasury Secretary Scott Bessent suggesting a more constructive tone. Meanwhile, March existing home sales dropped to their lowest level since 2009, even as home prices hit a new record.

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

• Unpacking Comcast's subscriber decline.
• 2 blue-chip stocks moving lower after earnings.
• Plus, Chipotle's sales miss; NOW in rally mode; and TAL tumbles on weak results.

Chipotle Mexican Grill Inc (NYSE:CMG) stock is seeing unusual options activity, with 58,000 calls and 70,000 puts traded so far today -- 5 times the average intraday amount. Investors are opening new positions at the top three most popular contracts, led by the weekly 5/30 43-strike put. CMG was last seen 0.9% higher to trade at $49.16, but still sports an 18% year-to-date deficit and slid earlier after the company's first-quarter revenue miss, first same-store sales drop since 2020, and slashed sales forecast. 

ServiceNow Inc (NYSE:NOW) is one of the best-performing SPX components today, up 14.6% at $931.13 at last check on strong first-quarter results. The software name shared adjusted earnings of $4.04 per share on $3.09 billion in revenue, beating estimates. This bull gap placed NOW at its highest level since February, and helped it reclaim its 50-day moving average. The security is up 25.2% in the last 12 months but remains below its Jan. 28, all-time high of $1,198.09.

TAL Education Group (NYSE:TAL) is one of the worst performing stocks this afternoon, last seen down 16.7% at $9.15, and on pace to snap its four-day win streak with its worst day since 2022. The Chinese education name missed top- and bottom-line expectations for its fiscal fourth quarter. Despite 42.1% year-over-year revenue growth, the earnings miss and ongoing regulatory overhang spooked investors. TAL is down 8.6% in 2025.

Oil stock CNX Resources Corp (NYSE:CNX) is down 4.1% at $29.34 at last glance, after the company reported a first-quarter earnings beat but lower-than-expected revenue. There is still support below at the $280 level, however, as well as a historically bullish trendline.

The shares are within one standard deviation of their 260-day moving average, a trendline that, per Senior Quantitative Analyst Rocky White, CNX has encountered for the first time in at least eight of the last 10 trading days, after spending at least 75% of the last six months above it. Within these parameters, three other signals occurred in the past three years. CNX was higher one month later 100% of the time after these events, averaging a 10.6% gain.   

Plus, short interest represents 19.1% of the stock's available float, or over nine days' worth of pent-up buying power. Any upgrades could provide tailwinds as well, as 13 of the 14 analysts in coverage carry a "hold" or worse rating. 

Pharmaceutical giant Merck & Co Inc (NYSE:MRK) has reversed its premarket lead, down 2% at $77.20 at last glance. The company posted better-than-expected first-quarter results but cut its profit outlook, expecting a $200 million dent from tariffs. Creeping back down toward its April 16 three-year low of $75.95, MRK is down 22.7% since the start of the year. 

So far today, MRK has seen 21,000 calls and 29,000 puts exchanged -- triple the overall options volume typically seen at this point. The May 75 put is the most popular, where new positions are being opened. 

Procter & Gamble Co (NYSE:PG) is brushing off a first-quarter earnings beat, down 5% at $157.37 at last glance. Revenue fell short of expectations, and the company slashed its full-year forecast amid economic uncertainty. CEO Jon Moeller told CNBC that there will likely be price increases amid tariffs, but that they're looking at sourcing options. 

Today's gap has PG testing a familiar floor around $158, an area that's been visited in July, January, and now April of the last year. The shares are now 5% off in 2025, and have ceded their year-over-year breakeven level today.

PG has seen 7,586 calls and 6,924 puts across the tape so far, which is double the intraday average put volume. The weekly 4/25 157.50-strike put is the most active contract, followed by the May 167.50 call. 

Celestica Inc (NYSE:CLS) stock is up 6.9% to trade at $88.48 today, enjoying broad market tailwinds and both RBC Capital and CLS Globe maintaining their "outperform" ratings. The Canada-based electrical hardware firm steps into the earnings confessional Friday morning, and could be poised for an even bigger move on the charts. 

CLS shook off two price-target cuts this week to break out of a channel of lower lows since a Feb. 5 record high of $144.27. The shares are 4.3% lower in 2025, but still boast a 101% gain in the last 12 months. The equity also has support at its 320-day moving average, a trendline that caught the pullback earlier this month.

Celestica has a history of volatile post-earnings moves. The stock gapped higher by 13.6% after an upbeat report in January, and by 18.2% after October's report. Overall, the stock averages a post-earnings move, regardless of direction, of 8% the day after the last eight reports. This time around, the options market is pricing in a larger-than-usual post-earnings move of 16.6%, regardless of direction.

Options traders have been skewed more toward puts lately. CLS' Schaeffer's put/call open interest ratio (SOIR) of 0.74 that sits in the 98th percentile of annual readings. In other words, short-term traders have been more bearish than usual, and a further unwinding of this pessimism could boost the shares.

Celestica has also outperformed options traders' volatility expectations over the last 12 months, making this an excellent opportunity to weigh in with options. This is per its Schaeffer's Volatility Scorecard (SVS) of 81 out of 100.

Shares of Tesla Inc (NASDAQ:TSLA) were last seen up 7.7% at $256.34 today, despite the company's major profit loss in the first quarter. The electric vehicle (EV) giant reported earnings of 27 cents per share on revenue of $19.34 billion, representing a decline of 71% and 9%, respectively. However, commentary from CEO Elon Musk is boosting sentiment, after he said he would spend less time in Washington D.C. working for President Trump and instead focus on Tesla.

On the charts, the declining 40-day moving average is still keeping a cap on TSLA's gains. Year-to-date, the equity is down 36.5%. 

Other EV stocks are getting a halo lift today. China-based Li Auto Inc (NASDAQ:LI) was up 2.3% at $24.33 at last glance, heading for its fourth-straight gain. The stock has been climbing since its early-April six-month lows, and is today breaking into positive territory for 2025. 

Rivian Automotive Inc (NASDAQ:RIVN) is up 5.9% to trade at $12.03. On the charts, a ceiling still remains at the $12 level, as it has all month. Year to date, the equity is down 9.5%.

Stocks are soaring this afternoon, with the Dow Jones Industrial Average (DJI) up 871 points amid optimism over easing U.S.-China trade tensions. Both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are sporting triple-digit gains as well, as President Trump considers scaling back tariffs on Chinese imports and Treasury Secretary Scott Bessent touts the opportunity the two nations have to reach a “big deal” on trade.

Plus, Trump said he has “no intention” of firing Fed Chair Jerome Powell, even as Fed Governor Adriana Kugler flagged tariffs as an inflation risk. April purchasing managers' index (PMI) data painted a mixed economic picture -- manufacturing unexpectedly expanded, but services growth slowed, with both surveys citing tariff pressures. 

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

• Intel reportedly plans to slash 20% of its workforce.
• Analyst blast Enphase Energy stock after earnings.
• Plus, ISRG options pop; heavily shorted stock rallies; and weak net sales weigh on OTIS.

Intuitive Surgical Inc (NASDAQ:ISRG) stock is surging, last seen up 3.8% at $497.13, after the surgical robotics company reported better-than-expected first-quarter earnings and revenue. ISRG is seeing heavy options activity in response, with 11,000 calls and 8.712 puts traded so far today, or 5 times the average intraday volume. New positions are being opened at the most popular contract, the May 580 call. On the charts, the stock gapped above the $500 level earlier and reclaimed support from its 260-day moving average. In the last 12 months, ISRG added 32.1%.

Super Micro Computer Inc (NASDAQ:SMCI) is the best-performing SPX stock this afternoon, last seen 8.9% higher to trade at $33.29 amid the broader market rally. The highly shorted stock is getting a boost from improved sentiment across tech. Digging deeper, 116.19 million shares are now sold short -- accounting for 22.8% of SMCI’s total available float. So far in 2025, the equity added 10.7%.

Otis Worldwide Corp (NYSE:OTIS) is one of the worst stocks on the NYSE today, last seen 5.6% lower at $93.43. The elevator and escalator maker announced a 2.5% drop in first-quarter net sales to $3.30 billion, missing Wall Street's estimates. Otis also flagged a $45 million to $75 million tariff-related impact on its operating profit. The equity has now shed 9.9% this quarter and is trading near its year-to-date breakeven level.