The Dow was last seen up 120 points
Stocks are firmly higher midday, though they have pulled back a bit from premarket gains. Wall Street is unpacking durable goods orders, while keeping an eye on the 2-year Treasury yield, which earlier surged to its highest level since 2007. The Dow Jones Industrial Average (DJI) is up 120 points at last glance, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) also sport solid gains.
- Why Union Pacific stock is surging today.
- Best Buy stock downgraded on high inflation.
- Plus, options traders blast FUBO; EV stock soaring; and MANU kicked lower.
Options traders are targeting plummeting FuboTV Inc (NYSE:FUBO) after the company's mixed fourth-quarter results and downbeat 2023 forecast. So far, 31,000 calls and 47,000 puts have crossed the tape, with options volume running at five times the intraday average. The March 2 put is the most popular, with new positions opening there. FUBO is still seeing pressure at the 200-day moving average, which rejected its early-February rally. At last glance, FUBO was down 11.9% at $2.05.
The New York Stock Exchange's (NYSE) Fisker Inc (NYSE:FSR) is up 33.3% to trade at $7.57 at last check, despite the electric vehicle (EV) company's worst-than-expected fourth-quarter results, as rising orders boost the shares. The EV sector is also seeing tailwinds from Li Auto (LI) today. Year-over-year, FSR is down 35.7%, with long-term pressure coming from its 200-day moving average.
Meanwhile, Manchester United PLC (NYSE:MANU) is down 11.8% at $20.18 at last look, and on the short sake restricted (SSR) list, following the Financial Times' weekend report that a higher offer is needed for the soccer club to agree to a sale. Year-over-year, the equity is still up 50.8%.