Tesla and Apple shares are boosting the Nasdaq today
The Dow Jones Industrial Average (DJI), Nasdaq Composite (IXIC), and S&P 500 Index (SPX) are all sporting comfortable leads this afternoon. Tesla (TSLA) and Apple (AAPL) are responsible for today's tech tailwinds, the former rising thanks to developments in China, while the latter scored a bull note.
Though CME's FedWatch tool is forecasting a 97.3% chance that interest rates are held steady at the policy meeting later this week, investors are still keen to hear monetary policy comments from Federal Reserve Chairman Jerome Powell.
Continue reading for more on today's market, including:
- Fintech stock brushes off quarterly win.
- Paramount stock surges on buyout talks.
- Plus, call traders pick up IBRX; PHG eyes best day ever; and watch out for ANVS volatility.
Options bulls are targeting Immunitybio Inc (NASDAQ:IBRX) stock, with 85,000 calls and 8,144 puts traded so far today, which is 16 times the intraday average volume. The most active is the May 10 call, but new positions are also being bought to open at the June 6.50-strike call. IBRX was last seen up 25% and earlier hit a four-year high of $9.19, after scoring price-target hikes from Jefferies and Piper Sandler to $9 and $6, respectively, from $5. The shares are on track for their third-straight gain, and just had their best week since November 2023. IBRX also boasts a 212.5% year-over-year lead.
Koninklijke Philips NV(NYSE:PHG) is easily the best stock on the New York Stock Exchange (NYSE) today, last seen up 30.7% to trade at $27.53. The company reached a deal today to pay a much smaller-than-expected $1.1 billion to settle U.S. cases personal injury related to the recall of sleep apnea ventilators. PHG is now eyeing its best single-day percentage gain on record, and added 30.9% in the past 12 months.
Meanwhile, Annovis Bio Inc (NYSE:ANVS) is the worst stock on the NYSE, down 48.3% to trade at $9.31, despite the drugmaker announcing a mid-stage trial of its Alzheimer's treatment showed significantly higher improvement in patients' cognition. The security saw a trading halt amid increased volatility, after surging to its highest level since late December earlier in the session. So far in 2024, ANVS is down 45.5%.
