Stocks Mixed After Job Openings, Consumer Data
Stocks are mixed midday, as the Federal Reserve's two-day policy meeting gets underway, with plenty of earnings and economic data for Wall Street to unpack in the meantime. The consumer confidence index rose to 100.3 in July from June's 97.8, though elevated prices remain a concern, while June job openings totaled 8.18 million -- down from the upwardly revised 8.23 million in May. The hiring rate, excluding Covid times, hit its highest level in almost 11 years.
At last glance, the Nasdaq Composite Index (IXIC) is down triple digits, while the S&P 500 Index (SPX) sits lower as well. The Dow Jones Industrial Average (DJIA), though paring earlier gains, is still firmly higher.
Options bulls are targeting Tilray Brands Inc (Nasdaq: TLRY), which is up 11.3% at $2.03 at last glance after the company beat fiscal fourth-quarter revenue expectations. So far, 129,000 calls have been exchanged -- nine times the amount typically seen at this point -- in comparison to just 9,613 puts. The weekly 8/2 2-strike call is the most popular by far. The equity has been in penny stock territory for a couple of years now and is still down 11.5% year to date.
JetBlue Airways Corp (Nasdaq: JBLU) is up 22% at $7.23 at last glance, after the airline name's strong second-quarter results. The company also announced it was delaying buying $3 billion worth of Airbus planes. Headed for its best day since its March 2020, JBLU is up 30.5% year to date.
Novavax Inc (Nasdaq: NVAX) stock is down 24.6% at $12.38 and on the short sell restricted (SSR) list today, after J.P. Morgan Securities downgraded it to "underweight" with an $8 price target. Year to date, the biotech stock is still up roughly 156%.
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