Dow, S&P 500 Rise On Earnings, Retreating Treasury Yield

It's a mixed day so far on Wall Street, with the Dow Jones Industrial Average (DJI) up 225 points and the S&P 500 Index (SPXsitting just above breakeven, as investors digest more earnings and recent Treasury yield movements. Meanwhile, the Nasdaq Composite (IXIC) is firmly in the red, as Netflix's (NFLXsurprise subscriber losses drag down other streaming staples, giving some tech investors pause. Looking ahead, Tesla (TSLA) reports financial results after today's close.

Midday Market Stats April 20_2022

Options traders look like they're calling a bottom for Rite Aid Corporation (NYSE: RAD). In fact, call volume is running at 13 times the intraday average, with 33,000 contracts across the tape already today. The weekly 4/22 8-strike call is the most popular by far, and new positions are being bought to open at the contract. Last seen up 6.8% at $7.90, the shares recently bounced off the $6 level -- their lowest area of trading since September 2019. The stock is set for its first close above the 10-day moving average in over three weeks, though longer-term, Rite Aid stock sports a 55% year-over-year deficit.

RAD Chart April 20

Healthcare Services Group, Inc. (Nasdaq: HCSGis one of the best-performing stocks on the Nasdaq today. The equity was last seen up 19.5% to trade at $19.83, following first-quarter earnings and revenue that were both higher than Wall Street's forecasts. The $20 level is still keeping a lid on the stock, as it did during the fourth quarter of 2021. Year-to-date, HCSG is up 11.7%.

Meanwhile, Baker Hughes Co (Nasdaq: BKR) is one of the worst Nasdaq performers so far today. At last check, BKR is down 9.4% to trade at $33.30, after reporting first-quarter earnings of 15 cents on revenue of $4.84 billion, both of which were lower than estimates. With today's losses captured by the 60-day moving average, Baker Hughes stock still stands 38% higher in 2022.

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