Major indexes are struggling for direction this afternoon, as investor focus remains narrowed on the Federal Reserve's rate hike decision, due out later today. Retail sales rose 1.2% in August, reversing course from July's drop and coming in better than the 0.8% estimate. Meanwhile, U.S. mortgage rates surged to 6.97% last week, the highest reading since May 2025. The Nasdaq Composite Index (IXIC) and S&P 500 Index (SPX) are firmly higher at last check, while the Dow Jones Industrial Average (DJI) sits flat.
XPO Inc (NYSE: XPO) is plummeting 3.5% lower to trade at $171.87 this afternoon, after reports showed Chief Operating Officer David Bates sold over 2,600 of his shares in the logistics company, totaling $469,000. XPO is headed for its seventh-straight daily drop and the options pits are buzzing in response. Over 7,700 puts have been exchanged so far, 36 times the average intraday rate, with the September 170 and 155 puts seeing the most attention. XPO remains up 26% for the calendar year.
One of the top stocks on the New York Stock Exchange (NYSE) today is Fabrinet (NYSE: FN), up 5.3% to trade at $394.75, looking to bounce off its recent pullback to $373.70 -- a 10-month low for the shares. FN will be looking to break back above the round $400 level, though the equity remains off 13.5% year to date.
One of the worst performers on the NYSE today is EOG Resources Inc (NYSE: EOG), last seen down 5.4% at $145.50, cooling off from its surge to a Sept. 15 record high of $154.16. EOG is echoing its peers with a 38% gain for 2026, though still unable to sustain a breakout above $150.
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