EARN25

Major Indexes Struggle as Investors Digest PPI

Investors are awaiting commentary from Fed Chair Jerome Powell

Digital Content Manager
Nov 14, 2024 at 12:15 PM
facebook X logo linkedin


The S&P 500 Index (SPX), Nasdaq Composite (IXIC), and Dow Jones Industrial Average (DJI) all sit red, as investors unpack a producer price index (PPI) for October that was in line with expectations. Also in focus is a drop in unemployment claims, while Wall Street eyes commentary from Federal Reserve Chairman Jerome Powell ahead of tomorrow's highly anticipated retail sales data.

Continue reading for more on today's market, including: 

  • Revenue beat pushes Sono stock higher.
  • Heavily shorted nuclear stock stringing records.
  • Plus, DIS options running hot; TPR enjoying rival's headwinds; and LDOS cooling from record highs.

MMC Stats 1114

Walt Disney Co(NYSE:DIS) stock is getting blasted in the options pits after the company's better-than-expected fiscal fourth-quarter results. So far today, 277,000 calls and 132,000 puts have been exchanged which is 9 times the volume usually seen at this point. The most active contract is the November 115 call, where new positions are being opened. DIS is up 7.6% to trade at $110.51 at last glance -- its highest level since May -- as it paces for its eighth-straight daily gain and best day since February. In 2024, DIS has added 23.6%.

Tapestry Inc (NYSE:TPR) stock was last seen up 12.5% at $57.71, leading the SPX today. The retail stock, which is behind luxury brands Coach, Kate Spade, and Stuart Weitzman, is enjoying the blockage of rival Capri Holding's (CPRI) $8.5 billion merger amid a block from the Federal Trade Commission (FTC). TPR sports an 86.7% year-over-year lead, and is trading at its highest level since November 2013.

Leidos Holdings Inc (NYSE:LDOS) stock is near the bottom of the SPX today, last seen down 6.6% at $181.34 and on track for its third-straight daily loss, though a catalyst for this negative price action remains unclear. Shares boast a 69.5% year-to-date lead and are testing support at the 20-day moving average, which has been in place since mid-September. The stock is also pivoting lower from a Nov. 11, record closing high of $201.39.

LDOS 20 Day

Getting Started With Options:
OPTIONS BASICS

Are you ready to start learning about options, and how to use them for faster profits? Our FREE GUIDE breaks down basic options trading concepts and vocabulary, how options derive their value, advantages and disadvantages, trading mechanics, and more!


 

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!