Consumer spending accelerated at a slower pace than anticipated in February
The Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) are looking to close out the week with steep losses, with the S&P 500 Index (SPX) firmly lower as well. This selloff follows a hotter-than-expected core personal consumption expenditures (PCE) price index for February, while consumer spending for the month accelerated at a slower pace than analysts anticipated, with both readings likely to influence the Federal Reserve's monetary policy. For the week, all three indexes are on track for losses.
Continue reading for more on today's market, including:
- Bulls blast Rocket Lab stock on contract buzz.
- 2 retail stocks under pressure today.
- Plus, put traders pile on AEO; WRB leading the SPX; and tech stock set to extend losses.
Options bears are targeting American Eagle Outfitters Inc(NYSE:AEO) stock today, 52,000 puts traded so far -- 13 times the intraday average volume -- compared to only 1,053 calls. The most active contract is the June 10 put, where new positions are being sold to open. AEO was last seen down 4.3% to trade at $11.39, after its retail peers Lululemon Athletica (LULU) and Oxford Industries (OXM) issued disappointing forecasts. On track for its fourth-straight daily loss, the security carries a 56.2% year-over-year deficit as it struggles with pressure from the 40-day moving average.
W R Berkley Corp(NYSE:WRB) stock is leading the SPX today, last seen up 7.7% to trade at $71.43. Today's pop comes after Japan's Mitsui Sumitomo Insurance revealed plans to take a 15% stake in the company. WRB is pacing for its fifth-straight daily pop as well as its best day since November 2020. So far in 2025, the stock already added 22%.
Palantir Technologies Inc (NASDAQ:PLTR) stock is near the bottom of the SPX today, down 5.8% at $84.84 at last check and eyeing its fourth-straight daily drop. The catalyst behind this negative price action is still unclear, with PLTR still sporting an impressive 270.2% year-over-year lead despite recent struggles to move back above the $100 level.