Home prices and consumer sentiment data are in focus
The Dow Jones Industrial Average (DJI) ripped higher midday after struggling for direction this morning, while the S&P 500 (SPX) and Nasdaq Composite (IXIC) sport solid leads as well, following the latest batch of quarterly earnings reports. Wall Street is currently sifting through the consumer sentiment index for July, which came in at its highest level in two years but still missed analysts' estimates, while home prices saw a smaller-than-expected decline in May.
Continue reading for more on today's market, including:
- Call traders target Walmart stock after upgrade.
- General Electric stock nabs post-earnings highs.
- Plus, RTX seeing unusual options activity; record highs for AURCU; and adjusted Q2 results weigh on Trueblue stock.
RTX Corp (NYSE:RTX) is
getting blasted in the options pits today, with 77,000 calls and 38,000 puts exchanged so far, or 33 times the average intraday amount. Most popular is the weekly 7/28 80-strike put, with new positions being opened there. RTX is down 14% at $83.34 at last check, brushing off the aerospace and defense name's second-quarter win, after a portion of its Pratt & Whitney GTF engines will need "accelerated removals and inspections." Now pacing for its worst day since March 2020, RTX is down 17.5% year-to-date.
Aurora Acquisition Units (NASDAQ:AURCU) is easily leading the Nasdaq, last seen up a whopping 102.5% to trade at a record high of $21. A catalyst for this positive price action remains unclear, but the security now sports an impressive 109.2% lead for 2023.
Trueblue Inc (NYSE:TBI) is one of the worst stocks on the New York Stock Exchange (NYSE). The equity is down 20.3% at $14.56 at last glance, after the company reported an adjusted second-quarter profit miss. TBI earlier gapped to a roughly three-year low of $14.71, and lost support from its 40-day moving average. During the last 12 months, the security shed 23.4%.
