Stocks are firmly higher as a volatile week winds down. The Dow Jones Industrial Average (DJI) and Nasdaq Composite Index (IXIC) are up triple digits, while the S&P 500 Index (SPX) sits comfortably in the black, with all three major indexes on track for their second straight weekly wins. Investors are still unpacking this morning's weak jobs data, which boosted hopes the Federal Reserve will keep interest rates steady. Elsewhere, solar stocks are getting a lift after President Trump imposed tariffs on polysilicon products from China.
Options traders are blasting Hertz Global Holdings Inc (HTZ) today, after the company posted narrower-than-expected second-quarter losses and revenue that beat estimates. HTZ is up 10.1% at $2.22 today, with heavy discourse from retail traders helping fuel a short squeeze. So far, 313,000 calls and 70,000 puts have been exchanged, which is already 4.6 times the stock's average daily options volume. Expiring today, the weekly 8/7 2.50-strike call is the most popular, with new positions being opened there.
Airbnb Inc (ABNB) stock is soaring to four-year highs, last seen up 15.9% to trade at $175.70, after the company posted better-than-expected second-quarter results and lifted its full-year guidance amid strong travel demand and AI efficiency. Year to date, the equity is up 29.2%.
Western Digital Corp (WDC) is down 5.6% at $426.38, looking to extend yesterday's 13% drop, which occurred despite strong second-quarter earnings and revenue as Wall Street pointed to better results from rival Seagate Technology (STX). Both STX and WDC are at the bottom of the Nasdaq today, however. Since the start of the year, the chipmaker is still up 147.8%.
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