Nasdaq Looks To Secure 4th-Straight Win

The Nasdaq Composite Index (IXIC) is on track for its first four-day winning streak since September, as Wall Street's 2023 rally gains steam. Investors are picking up technology stocks and hoping for a shift from the central bank's aggressive interest rate hike campaign. The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) also sport solid midday leads ahead of tomorrow's pivotal inflation report.

Midday Market Stats January 112023

Crypto-adjacent Marathon Digital Holdings Inc (Nasdaq: MARA) is seeing an increase in options activity today, with 77,000 calls and 30,000 puts across the tape so far. That volume is triple the average intraday amount, with new positions being opened at the top four most active contracts, all of which are in the weekly 1/13 series. MARA is down 5% at last glance to trade at $5.46 after Jefferies downgraded the shares to "hold" and lowered their price target to $4. Marathon Digital stock -- concurrent with a resurgent Bitcoin (BTC) -- is up 62.6% year-to-date but remains down more than 81% in the last 12 months.

MARA Chart January 112023

Broadwind Inc (Nasdaq: BWENis 84.1% higher this afternoon, last seen trading at $4.16 after the company received $175 million in new tower orders from a global wind turbine manufacturer. The stock stands at the very top of the Nasdaq today, and now sports a more than 144% year-over-year lead.

CommVault Systems, Inc. (Nasdaq: CVLTis trading near the bottom of the Nasdaq, last seen down 16.1% at $54.35. This pullback comes after the software company missed fiscal third-quarter earning per share estimates. CVLT is eyeing its lowest close since Oct. 17.


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