The Dow is slightly below breakeven at midday
The Dow Jones Industrial Average (DJI) is slightly below breakeven at the midway mark, last seen down 12 points. Meanwhile, the S&P 500 Index (SPX) is flat, and the Nasdaq 100 Index (NDX) is modestly higher. This sideways price action comes after Target's (TGT) short-term profit warning.
Meanwhile, the 10-year Treasury yield dropped back below 3%, likely keeping some of these losses in check. Investors are also keeping an eye oil prices, as they weigh supply shortages against rising demand amid China's easing Covid-19 restrictions. U.S. West Texas Intermediate (WTI) crude futures were last seen down 0.2% at $118.29 .
Continue reading for more on today's market, including:
- This surging oil stock is still a bargain, says analyst.
- Dave & Buster's stock breaks higher after a top- and bottom-line beat.
- Plus, options traders target AMZN after stock split; JAN topples key trendline; and e-commerce name to join RUT.
Amazon.com, Inc. (NASDAQ:AMZN) is seeing an unusual amount of options activity today. So far, 555,000 calls and 321,000 puts have crossed the tape, which is four times the intraday average. Most popular is the 6/10 130-strike call, followed by the 125-strike call in the same weekly series. The stock was last seen down 2.5% at $121.61, cooling from yesterday's 2% pop following its 20-for-1 stock split. So far this year, AMZN is down 26.6%.
One of the best performing stocks on the Nasdaq today is Janone Inc (NASDAQ:JAN). The security was last seen up 43.6% to trade at $3.59, after announcing that it received a U.S. patent for its potential treatment of peripheral artery disease (PAD) JAN101. JAN is set to log its second close above the 150-day moving average since August, but is still down 14.1% this year.
Meanwhile, towards the bottom of the Nasdaq is Boxed Inc (NYSE:BOXD), last seen off 24.3% at $4.20. It was recently announced that the stock will enter the Russell 2000 Index (RUT) on Monday, June 27. BOXD has shed 69.3% so far in 2022, and earlier fell to a record low of $4.06.