Investors are also unpacking consumer confidence data
Wall Street is scattered this afternoon, with the Nasdaq Composite Index (IXIC) up 150 points as Nvidia (NVDA) rebounds from yesterday's selloff. Meanwhile, the Dow Jones Industrial Average (DJI) is down more than 240 points, and the S&P 500 Index (SPX) is modestly higher.
In other news, consumer confidence moved slightly lower in June. According to The Conference Board, its confidence index fell to 100.4, below May's 101.3 reading.
Continue reading for more on today's market, including:
- Analyst hits Sea stock with bear note.
- Casino stock downgraded on valuation.
- Plus, FedEx prepares for earnings; Carnival's quarterly beat; and Pool's slashed forecast.
Options traders are taking aim at FedEx Corp (NYSE:FDX) today, as the company prepares for its fiscal fourth-quarter earnings report, due out after today's close. Already today, more than 17,000 calls and 15,000 puts have changed hands, which is four times the intraday average volume. Positions are being opened at the most popular contract, the weekly 6/28 290-strike call. Last seen 1% lower to trade at $253.74, FDX is flat in 2024.
Carnival Corp (NYSE:CCL) is 7.6% higher to trade at $17.64 at last check, after the cruise company announced fiscal second-quarter earnings and revenue that beat Wall Street's estimates. Carnival also raised its annual profit forecast again due to strong demand. Year over year, CCL is up 20%.
Shares of Pool Corp (NASDAQ:POOL) is down 6.4% to trade at $316.42 at last glance, after the swimming pool retailer lowered its full-year 2024 forecast. After earlier slipping to its lowest level since January 2023, POOL now carries a 21.3% year-to-date deficit.
