The Dow Jones Industrial Average (DJI) was last seen down triple digits, while both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also lower, despite yesterday's record closes. Today's dismal price action follows President Trump's announcement of a 35% tariff on Canada, as well as reports that other countries could soon see levies of 15% to 20%. the DJI and IXIC are now at risk of snapping three-week win streaks, with the SPX on track for a weekly loss as well. Meanwhile, the Cboe Volatility Index (VIX) is eyeing its first gain in four sessions.

CSX Corp (Nasdaq: CSX) stock is among the most heavily traded stocks in the options pits today, with 44,000 calls exchanged so far -- 10 times the volume typically seen at this point -- compared to 634 puts. The most popular contract is the August 35 call, with new positions being bought to open. The shares were last seen up 2.6% to trade at $34.40, after the railroad giant laid off 125 managers as part of a company-wide restructuring. CSX is up 6.5% in 2025, and earlier surged to its highest level since December with support from the 20-day moving average.

Arista Networks Inc (NYSE: ANET) stock is among the SPX's outperformers today, 2.3% higher to trade $108.76 at last glance, after a price-target hike at Citigroup to $123 from $112. Plus, on July 8, Wolfe Research initiated coverage with an "outperform" rating. The equity surged to its highest level since February in response, and is now pacing for its fourth-straight daily gain while sporting a 49.4% three-month lead.

Caesars Entertainment Inc (Nasdaq: CZR) stock is near the bottom of the SPX, last seen down 4.3% to trade at $30.17. Shares are pulling back from yesterday's 6.5% gain -- the largest since May 12 -- as they struggle with overhead pressure at $32, which has been capping rallies since early March. So far in 2025, the casino stock hasshed 9.7%.

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