Dow Up Triple Digits As Friday's High Spirits Carry Over

Stocks are on the rise midday, with the Dow Jones Industrial Average (DJI) up triple digits and looking to extend Friday's 658-point rally. Goldman Sachs (GS) is the most recent big bank name to report earnings, easily beating expectations and lifting sentiment on Wall Street. Crypto investors are enjoying gains today as well, as the sector surges, with Bitcoin (BTC) jumping above $22,000. Meanwhile, the National Association of Home Builders’ (NAHB) monthly confidence index dropped a much larger-than-expected 12 points in July -- its second largest decline ever -- to a reading of 55.

MMC July18

Alphabet Inc (Nasdaq: GOOGLis seeing an options surge ahead of tomorrow's 20-for-1 stock split. So far, 156,000 calls and 54,000 puts have been exchanged, with overall volume running at six times the intraday average. The weekly 7/22 115-strike call is the most popular by far, with new positions being bought to open there. 

One of the best-performing stocks on the Nasdaq today is Marathon Digital Holdings Inc (Nasdaq: MARA), up 21.9% to trade at $9.80 as crypto-adjacent stocks rally alongside Bitcoin. Further removing itself from its July 5th 19-month low of $5.20, MARA is up 83.3% in the last month. 

MARA July18

Meanwhile, Vision Marine Technologies Inc (Nasdaq: VMARis down 10.3% at $5.72, amid news of the company's partnership with Bénéteau SA to develop electric outboard powerboats. Today's drop has VMAR on track to snap a four-day win streak, and the volatility has it landed on the Short Sell Restricted (SSR) list. 


More By This Author:

Dow Snaps 5-Day Losing Streak With 658-Point Win
Dow Jumps 567 Points as Bank Stocks Surge
Dow Loses Another 142 Points, Slides to 5th-Straight Dip

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Or Sign in with