Markets Move Lower As FOMC Anticipation Grows

The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are struggling for direction this afternoon, both sitting just below breakeven at midday. Meanwhile, the Dow Jones Industrial Average (DJI), is facing a steep triple-digit loss, now off 269 points. Investors are weighing anticipation around upcoming Big Tech earnings, the conclusion of this afternoon's Federal Open Market Committee (FOMC) meeting, and news that Kevin Warsh -- President Donald Trump's nominee for Fed Chair -- passed the Senate Banking Committee vote.

Teva Pharmaceutical Industries Ltd (TEVA) is seeing a surge in options activity today, with over 20,000 calls and 3,788 puts traded so far, volume that is seven times the average daily pace. Most popular is the May 34 call, with the September 40 call also seeing notable attention. TEVA is trading up 11.6% to trade at $35.41 after posting a first-quarter earnings and revenue beat. Today's pop has the shares breaking above both the 80-day moving average and $32 level, a ceiling that kept a tight lid on shares over the past few weeks. In 2026, Teva Pharmaceutical stock has added 13.3%.

Bloom Energy Corp (BE) is up 26.4% to trade at $282.17 this afternoon, sitting as the top stock on the New York Stock Exchange (NYSE). The energy company reported a first-quarter beat-and-raise, hiking its full-year revenue to keep up with climbing digital power demand. BE is pacing for its best daily performance in two weeks and is up 216% in 2026.

One of the worst NYSE performers today is Oklo Inc (OKLO), last seen down 7.2% at $64.13, though the catalyst for todays pullback is unclear. OKLO is pulling back from its multi-month high-- just above $80 late last week-- adding to its now 10% year-to-date deficit.