The Dow is up 85 points at midday
The Dow Jones Industrial Index (DJI) is up roughly 85 points at midday as the index attempts to climb out of its September rut, joined by the S&P 500 Index (SPX), which is also sporting modest gains. The Nasdaq Composite (IXIC), however, is trading slightly below breakeven. Traders are still digesting a better-than-expected Empire State index, which came in at 34.3 for September, versus the 18 consensus estimates. Meanwhile, energy stocks continue to rise, while casino stocks are taking a breather due to the threat of tightening of regulations in Macau, as well rising Covid-19 cases in China.
Continue reading for more on today's market, including:
- Delta variant fears force Yum China to lower forecast.
- Big Tech stock nearing record highs amid buyback buzz.
- Plus, TYRA's well-received Nasdaq debut; KAVL lowers outlook; and IRNT surges after earnings.
Tyra Biosciences Inc (NASDAQ:TYRA) is one of the best performing stocks this afternoon. The security was last seen up 60.1% at $25.62, following its debut on the Nasdaq. TYRA opened at $29.90, compared to its initial public offering (IPO) price of $16 per share.
One of the worst performing stocks on the Nasdaq today is Kaival Brands Innovations Group (NASDAQ:KAVL). The shares were last seen down 41.7% at $2.63, after the e-cigarette concern slashed its full-year revenue outlook amid potentially tightened vaping product regulations. KAVL is down 48.4% year-to-date, and is now trading at its lowest level in nearly two years.
Ironnet Inc (NYSE:IRNT) is seeing a surge in options activity today, with 108,000 calls and 20,000 puts across the tape so far, or four times the intraday average. Most popular is the September 30 call, followed by the 45 call in the same series, with positions being opened at both. IRNT is up 25.4% at $29.25 at last glance, following yesterday's second-quarter earnings, in which the cybersecurity company reported a 65% year-over-year rise in subscription revenue. The equity hit a record high of $31.35 earlier today, and boasts a 184.1% year-to-date lead.