The Nasdaq also sports a triple-digit midday lead
The Dow Jones Industrial Average (DJI) is up a whopping 547 points this afternoon, while the Nasdaq Composite (IXIC) is sporting a triple-digit midday lead of its own. The S&P 500 is also firmly higher, with investor optimism getting a boost following reports that Trump's tariffs may not be as severe as previously anticipated. In addition to excluding certain countries and industries, duties may also be flexible and much narrower in scope, according to Bloomberg and The Wall Street Journal.
Continue reading for more on today's market, including:
- Defense stock drawing bearish attention.
- Analyst: Pinterest stock boasts attractive entry point.
- Plus, options traders blast CE; TSLA set to extend bounce; and HRL tests support.
Celanese Corp(NYSE:CE) stock is seeing unusual options activity today, with 20,000 calls and 27,000 puts traded so far, which is 20 times the volume normally seen at this point. The most active contract is the April 50 put, followed by the 55 call in the same series. CE is up 3.3% to trade at $58.99 at last glance, brushing off a price-target cut to $75 from $85 at Evercore ISI. Shares are fresh off their third-straight weekly win, but still carry a hefty 64.3% year-over-year deficit.
Tesla Inc(NASDAQ:TSLA) stock is leading the SPX today, last seen up 7.9% to trade at $273.05, packing for its fourth-straight gain and best single-day percentage pop since November. TSLA is fresh off its ninth consecutive weekly loss, however, with its electric vehicles (EVs) reportedly being traded in at a record pace as consumers boycott CEO Elon Musk for his role in the Trump administration. So far this year, TSLA stock shed over 32%.
Hormel Foods Corp(NYSE:HRL) stock is toward the bottom of the SPX today, down 1.7% to trade at $29.48 at last check. Shares are on track for their fourth loss in the last five sessions, and are resting support from their 20-day moving average. In the last 12 months, HRL shed over 14%.
