The Dow is down 468 points midday
The Dow Jones Industrial Average (DJI) is keeping with its dismal September activity on Monday, sinking 468 points at midday as it heads for its biggest one-day drop since mid-July. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are not faring much better, with both indexes eyeing substantial daily drops as well. Meanwhile, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), is headed for its highest close and biggest percentage jump since May.
In addition to the historically volatile seasonality that has been gripping the markets, investors are nervously eyeing the upcoming Federal Reserve two-day meeting, as well as Covid-19 cases across the country. Focus has also been on China, which is seeing disastrous trading of its own amid news that real estate developer China Evergrande Group is nearing collapse.
Continue reading for more on today's market, including:
- Pfizer stock in the spotlight after upbeat vaccine update.
- What caused Canopy Growth stock to sink even lower.
- Plus, ZIVO topples technical resistance; HLBZ takes a breather; and AAL joins clean energy initiative.
Zivo Biosciences Inc (NASDAQ:ZIVO) is one of the best performers on the Nasdaq today. The stock was last seen up 164.3% at $7.40, and while there is no discernable driver for today's buying frenzy, the stock is making waves on social media as rumors over an upcoming U.S. Food and Drug Administration (FDA) approval swirl. ZIVO is down 39.3% year-to-date, but has cleared multiple trendlines, including its 60-day moving average, which has kept a lid on shares since March.
Helbiz Inc (NASDAQ:HLBZ), meanwhile, is one of the worst performing stocks on the Nasdaq, down 16.4% at $14.79 at midday. News came out this morning that the micro-mobility name will take part as a sponsor at the MicroMobility.io event in San Francisco on Sept. 23. The stock recently hit a Sept. 17 record high of $25.78, and while HLBZ is cooling from this surge today, it is still pacing for its second highest close on record, and boasts a 45% year-to-date lead.
American Airlines Group Inc (NASDAQ:AAL) is seeing an elevated number of calls exchanged today, with 93,000 across the tape so far, which is double the intraday average, and almost three times the number of puts traded. The most popular is the weekly 9/24 21.50-strike call, followed by the 21-strike call in the same series, with positions being opened at both. American Airlines stock was last seen up 1.4% at $20.01, after the company joined several others to form the Breakthrough Energy program -- an initiative backed by Bill Gates aimed at accelerating clean energy technologies and achieving zero net-carbon emissions by 2050.