Stocks are starting to stabilize at midday, but market choppiness remains
The Dow Jones Industrial Average (DJI) is making another run at record highs today, up over 200 points at last check. The S&P 500 Index (SPX), after spending the morning in the red, has clawed its way into positive territory, while the Nasdaq Composite (IXIC) remains modestly lower amid a broader tech sector pullback. Earnings and import prices are holding investor attention today, with Morgan Stanley's (MS) report in focus and the latter falling 0.4% in September, steeper than estimates.
Continue reading for more on today's market, including:
- ASML stock selloff is steepening.
- Airline stock stays hot thanks to top-line beat.
- Plus, bulls target Cameco; United lifts sector peers; and Intel's China headwinds.
Cameco Corp (NYSE:CCJ) stock is seeing unusual options activity today. At last check, over 75,000 calls have changed hands, volume that's 5 times the average intraday amount and 3 times the number of puts traded. The November 60 call leads the way, while the 55-strike in the same standard series is also popular. CJJ is up 4.5% to trade at $54.04, trading at its highest level since June after bottoming out at $35.43 on Aug. 5.
Delta Air Lines, Inc. (NYSE:DAL) is up 4.4% to trade at $55.05 today, one of the best stocks on the SPX. Airline stocks across the board are getting a halo lift from United Airlines' (UAL) outstanding earnings report. Delta stock earlier hit a four-year high of $55.98, and is now up 36.6% in 2024.
Intel Corp (NASDAQ:INTC) is down 3.3% to trade at $21.90 today, near the bottom of the SPX, after China's Cybersecurity Association recommended a review of Intel's products sold in China. Intel stock is down 56.3% year-to-date, carving a channel of lower lows despite recent consolidation below $24.
