Walmart earnings gave the blue-chip index a boost
In its fastest 10,000-point climb, the Dow Jones Industrial Average (DJI) surpassed 40,000 for the first time ever, building on the bull market that began at its Oct. 2022 lows. Walmart (WMT) stock's post-earnings surge to record highs gave the blue-chip index a boost, as did optimism stemming from hopes of interest rate cuts. Both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) extended yesterday's record highs as well.
Continue reading for more on today's market, including:
- Warren Buffet's Berkshire Hathaway reveals previously confidential stock.
- Canada Goose stock heads for best day since 2018.
- Plus, WMT hits record highs; ASTS soars on AT&T agreement; and SPIR plummets.
Retail giant Walmart Inc (NYSE:WMT) is the most popular stock amongst options traders today, following the company's strong first-quarter results. Walmart also just hit the $500 billion market cap level for the first time, and raised its annual revenue forecast. So far, 191,000 calls and 99,000 puts have been exchanged, which is already 3.5 times WMT's average daily options volume. Expiring tomorrow, the May 64 call is the most popular, with new positions opening there. At last look, WMT was up 5.8% at $63.27, and as previously mentioned, trading at fresh all-time highs.
AST Spacemobile Inc (NASDAQ:ASTS) is one of the top stocks on the Nasdaq today, after announcing a partnership with AT&T (T) to provide a space-based broadband network. At last glance, ASTS was up 45.6% at $3.47, though still down 42.3% since the start of the year. Should these gains hold, the stock will mark its best day since June 2021.
On the other hand, the shares of Spire Global Inc (NYSE:SPIR) are plummeting, down 22.3% at $8.81 at last check, after the telecommunication name's disappointing first-quarter revenue and weak second-quarter revenue forecast. Now trading at its lowest levels since early February, the equity is still up 12.5% year to date.