Record Highs For Dow, SPX As Stocks Bounce Back

Wall Street has bounced back in a big way today, with the Dow Jones Industrial Average (DJI) last seen up 267 points and earlier hitting a new record high. The S&P 500 Index (SPX) hit a record high of its own, while the Nasdaq Composite (IXIC) is on track for its best single-session gain since November 2022. The story -- as it has been all week -- is Nvidia (NVDA), with the chipmaker's artificial intelligence (AI)-driven 256% year-over-year increase in total revenue powering the entire tech sector. 

MMC Stats Feb 22

AT&T Inc (NYSE: T) is getting blitzed by options bears today. The stock was last seen down 2.7% to trade at $16.54 after over 74,000 customers reported network outages across the country. At last check, over 71,000 puts have changed hands, volume that's seven times the average intraday amount. The weekly 16.50- and 16-strike puts are the most popular, with new positions being bought to open. T is now down 15% year-over-year. 

Royal Caribbean Cruises Ltd (NYSE: RCL) is one of the best stocks on the SPX today, last seen up 7.7% to trade at $123.77. The cruise operator raised its full-year guidance thanks to a surge in demand. J.P. Morgan Securities and Stifel hiked their price targets to $151 and $174, respectively, in response. RCL is 74% higher in the last 12 months, with its February pullback finding support at its 80-day moving average. 

MMC Stock Chart RCL

Newmont Corporation (NYSE: NEMstock is near the bottom of the pile today, down 5.9% to trade at $31.50. The miner reported fourth-quarter earnings that fell short of estimates, and announced intentions to divest six non-core assets. NEM is now 23.4% lower in 2024, and earlier hit a five-year low of $31.45.

More By This Author:

Dow, S&P 500 Avoid 3rd-Straight Loss
Stocks Slip Ahead Of Fed Minutes, Nvidia Earnings
Stocks Dragged By Tech Sector Profit Taking
How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.