The Dow and S&P 500 are down triple digits this afternoon
A disappointing jobs report is pressuring stocks this afternoon, with the Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) down triple digits, and the S&P 500 Index (SPX) moving firmly lower as well. Traders are concerned about the economy as Treasury yields spike, with Treasury Secretary Scott Bessent admitting to some signs of economic weakness during an Economic Club of New York event. Tariffs also remain in focus, pushing all three major indexes toward weekly losses, the third straight for the SPX and IXIC.
Continue reading for more on today's market, including:
- Sideways landing pressures space stock.
- Why Costco stock is brushing off bull notes.
- Plus, HPE sinks on dismal guidance; DG rallies before earnings; UAL gaps to November lows.
Hewlett Packard Enterprise Co (NYSE:HPE) stock is seeing unusual options activity, with 28,000 calls and 22,000 puts traded so far, or 9 times the volume typically seen at this point. The most popular contract is the April 14 put, where new positions are being opened. HPE is down 14.9% to trade at $15.28 at last glance, brushing off a revenue win for the fiscal first quarter, after the tech giant cut its guidance for the fiscal second quarter. This triggered no fewer than six price-target cuts, including at Susquehanna to $15 from 20. Longer term, HPE carries a 16.1% year-over-year deficit.
Shares of discount retailer Dollar General Corp(NYSE:DG) are surging today, last seen up 4.4% to trade at $79.62. The stock earlier hit its highest level since December, brushing off yesterday's three price-target cuts ahead of its fourth-quarter report, slated for release before the open on Thursday, March 13. DG fell 50% in the last 12 months, but is today pacing for its fourth-straight gain and its fourth weekly win in five.
United Airlines Holdings Inc (NASDAQ:UAL) stock is down 6.3% at $80.85 at last check, eyeing its worst week since August, as well as its fourth loss in the last five sessions. Though the equity boasts a healthy 82.7% year-over-year lead, it's trading at its lowest level since November and eyeing a second-straight close below the rising 120-day moving average.
