Stocks Extend Losses As Retail Sales Remains In Focus

Retail sales data is front and center today, as investors consider what it could mean for the Fed's disinflation efforts. The Dow Jones Industrial Average (DJI) is firmly lower at midday, while the S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) sit modestly in the red. Meanwhile, oil futures are falling after the U.S. posted an uptick in crude supplies. 

MMC Feb15

Options traders are blasting Airbnb Inc (Nasdaq: ABNBafter the company's upbeat fourth-quarter earnings report and strong forecast, after which a host of analysts lifted their price targets. So far, 103,000 calls and 80,000 puts have crossed the tape, which is seven times the intraday average volume. The February 135 call is the most popular by far, with new positions opening here. At last check, ABNB is up 12.7% at $136.18, and trading at its highest level since May. Today's pop also has the security breaking above its 320-day moving average. 

ABNB Feb15

The New York Stock Exchange's (NYSE) Roblox Corp (NYSE: RBLXis up 23.1% at $43.94 at last glance, after the company's fourth-quarter bookings beat estimates. Today's pop has RBLX trading at its highest level since November. Year-to-date, the equity is up 55.1%. 

Meanwhile, Credo Technology Group Holding Ltd (Nasdaq: CRDOis headed for its biggest one-day percentage drop ever, down 46.5% at $10.34 at last check. The company posted a disappointing forecast after a top customer cut its orders. Plus, Cowen and Company downgraded the stock to "market perform" from "outperform," while no fewer than five other analysts slashed their price targets. CRDO is still up 6% in the past nine months. 


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