Nasdaq, S&P 500 Eye More Weekly Losses On Core PCE Data

Stocks are still quiet heading into the afternoon hours, after a slightly hotter-than-expected core personal consumption expenditures (PCE) price index for November, which sparked concerns over the health of the U.S. economy. At last check, the Dow Jones Industrial Average (DJI) is trading slightly below breakeven, but still eyeing a modest weekly win. The S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) are also muted, as both pace for a third-straight weekly loss.

MMC Stats 1223

Bumble Inc(Nasdaq: BMBLis seeing an unusual amount of bearish options activity. So far today, 8,174 puts have exchanged hands, which is seven times the intraday average volume, compared to only 107 calls. The most popular contract is the January 2023 20-strike put, where new positions are currently being opened. A catalyst for this negative sentiment remains unclear, with the shares last seen down 1.3% at $20.76. A familiar floor at the $20 level is containing this pullback, but BMBL is looking to mark its third-straight daily loss. Year-to-date, the online dating stock is down 38.7%.

Leading the New York Stock Exchange (NYSE) at last check is Nine Energy Service Inc (NYSE: NINE), up 8.8% to trade at $13.11. The stock earlier surged to a three-year high of $13.10, and it is eyeing its fourth daily gain in five sessions, though it's unclear what's driving so much interest in the shares. NINE boasts a jaw-dropping 1,213% lead for 2022.

Meanwhile, TAL Education Group(NYSE: TALis one of the worst stocks on the NYSE, last seen down 9.8% to trade at $9.10. The security is cooling from yesterday's one-year high of $10.45, which followed China's securities regulator promises of deeper market reforms and improvements. Shares still have support from their 20-day moving average, while the $9 region may contain today's losses. In the last nine months, TAL has added 203.6%.

TAL 20 Day


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