The Dow is eyeing a triple-digit drop
The Dow Jones Industrial Average (DJI) is extending this morning's losses, last seen down 293 points, as the spreading Covid-19 omicron variant casts a long shadow over "quadruple witching" Friday. The S&P 500 Index (SPX) has joined the Dow in the red, while the Nasdaq Composite (IXIC) has managed to climb back above its breakeven, despite the implications the Federal Reserve's recent decision have had for the tech sector. All three indexes are looking to wrap up the volatile week with a loss, however.
Continue reading for more on today's market, including:
- Buyout buzz is giving this medtech stock a boost.
- Earnings beat makes FedEx stock a magnet for bull notes.
- Plus, options bulls eye more upside for PG; GNFT surges on licensing agreement; and BKSY hits record low.
Procter & Gamble Co (NYSE:PG) is seeing an surge in options activity today, with 20,000 calls and 8,236 puts exchanged so far -- three times the intraday average. The most popular position is the January 2023 170-strike call, where new positions are being bought to open. At last check, PG is down 1.1% to trade at $159.32, after earlier hitting a record high of $161.72.
One of the best performers on the Nasdaq today is Genfit SA (NASDAQ:GNFT), which was last seen up 47.1% to trade at $4.89. The company just signed a licensing deal with Ipsen to develop and commercialize the former's experimental treatment for patients with primary biliary cholangitis. Ipsen will also take a stake in Genfit. The stock touched a 10-month high of $5.20 earlier, and toppled its 200-day moving average, which rejected a rally attempt in late August.
One of the worst stocks on the New York Stock Exchange (NYSE) today is Blacksky Technology Inc (NYSE:BKSY). The equity was last seen down 15.3% at $5.96, though a catalyst for this negative price action was not immediately clear. BKSY is down 43.1% in 2021, and earlier dropped to a record low of $5.77.