Stocks Aim For Weekly Wins Despite Bank Sector Pullback

Stocks are trading on both sides of the aisle today after JPMorgan Chase (JPM) warned that a recession is the best-case scenario this year. At last check, the Dow Jones Industrial Average (DJI) sports a marginal lead, the Nasdaq Composite (IXIC) is flat, and losses in the banking sector have the S&P 500 Index (SPX) trading below breakeven. For the week, all three benchmarks are on track for healthy wins, while the Cboe Volatility Index (VIX) is pacing for its worst week since October.

Midday Market Stats January 132023

Blue Apron Holdings Inc (NYSE: APRN) is up 25.6% to trade at $1.15 this afternoon, and its options pits are ramping up the activity. Already, more than 32,000 calls and 2,989 puts have crossed the tape, which is 14 times the average intraday amount. New positions are opening at the weekly 1/13 1.50-strike call. The shares of the meal delivery kit service have added 79.5% over the last month, and finally look poised to close above the $1 for the first time since early November. 

APRN Chart January 132023

U.S.-listed shares of Chinese live streaming stock HUYA Inc - ADR (NYSE: HUYAare up 10.5% to trade at $5.35 at last check, sitting near the top of the New York Stock Exchange (NYSE) today. This comes after the company amended its license agreement for broadcasting League of Legends matches with a Tencent affiliate. Over the last three months, HUYA is up nearly 170%.

Amid ongoing bankruptcy concerns, shares of Party City Holdco Inc (NYSE: PRTYare trading near the bottom of the NYSE. Last seen 8.1% lower, down to 0.38 cents per share at last glance, and adding to a more than 93.5% year-over-year deficit. According to a Bloomberg report, Party City is in the process of filing for bankruptcy, which may end with creditors taking ownership.

More By This Author:

Nasdaq Strings 5 Straight For Best Win Streak Since July
Wall Street Divided After Key Inflation Reading
Dow, Nasdaq Add Triple Digits Ahead Of Inflation Update

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.