The Dow and Nasdaq are both down triple digits
The Dow Jones Industrial Average (DJI) is down 556 points midday, heading for its worst daily percentage loss since mid January, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) sit firmly in the red as well -- the former falling from last session's record highs and the latter on track to snap a five-day win streak. Dow member Walmart's (WMT) disappointing guidance has investors spooked, drawing concerns about consumer spending.
Continue reading for more on today's market, including:
- Behind Alibaba stock's surge.
- Carvana stock careening lower despite strong earnings.
- Plus, call traders eye WBD before earnings; CADL jumps on bull note; and VMEO falls on disappointing guidance.
Options bulls are targeting Warner Bros Discovery Inc (NASDAQ:WBD) ahead of next week's earnings report. So far, 91,000 calls have been exchanged in comparison to just 3,208 puts. The February 11.50 call is the most popular, where new positions are being bought to open. WBD is down 0.3% at $10.86 at last glance. The shares have found support at the ascending 80-day moving average, though the $11 region could provide pressure.
Biotech stock Candel Therapeutics Inc (NASDAQ:CADL) is one of the best Nasdaq performers today, up 27% at $13.30, after Citigroup initiated coverage with a "buy" rating and $25 price target. On track for its sixth-straight daily gain, CANDL is up 42% since the start of 2025.
One of the worst performers on the Nasdaq this afternoon is video platform Vimeo Inc (NASDAQ:VMEO), which was last seen down 21.1% at $5.35, after mixed fourth-quarter results and disappointing guidance. Despite being headed for its worst daily percentage loss since March, the stock remains up 42% year over year.