All three major indexes are off their session lows
Stocks are lower midday, falling victim to global tensions surrounding trade wars. Investors are also skittish amid renewed unease about interest rate timelines, after Federal Reserve Chairman Jerome Powell told the Senate Banking Committee the Fed shouldn't rush into rate cuts.
At last check, the Dow Jones Industrial Average (DJIA) is cautiously higher, moving into the black after a lower open. The S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are both struggling for direction but have come off their session lows.
Continue reading for more on today's market, including:
- 2 oil stocks making noise this week.
- Shopify stock can't make up its mind today.
- Plus, Intel bulls pounce; chemical stock takes off; and air taxi ACHR stalled out.
Intel Corp (NASDAQ:INTC) is seeing an uptick in options volume today. At last check, over 556,000 calls have changed hands, volume that's quadruple the average intraday amount. The weekly 2/14 21-strike call is seeing the most action, with the June 20 and March 25 calls not far behind. INTC is up 6.2% to trade at $21.05 today, with no specific catalyst.
Ecolab Inc. (NYSE:ECL) stock is near the top of the Nasdaq today, last seen up 7.3% to trade at $263.99. The pesticide and chemicals company reported a top-line beat for the fourth quarter, prompting a price-target hike from Mizuho to $302 from $297. ECL earlier traded at a record high of $267.56, and is now 30% higher in the last 12 months.
Archer Aviation Inc (NYSE:ACHR) stock is on the other end of the coin, last seen down 5% to trade at $9.65. The electric takeoff and landing (eVTOL) startup announced $300 million from partners to strengthen its the aerospace industry advancements. ACHR is 23% off its Jan. 7, nearly four-year high of $12.47, and is now below its year-to-date breakeven level, but support is in place at the stock's 50-day moving average.
