Wall Street is cautiously higher this afternoon, as investors digest this morning's producer price index (PPI) reading and look ahead to Thursday's consumer price index (CPI) report. Halfway through the session, the Dow Jones Industrial Average (DJI) boasts a 155-point lead, while the S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) both sit just above breakeven. 

The U.S. Federal Reserve's September meeting minutes are also due out today. Chairman Jerome Powell has acknowledged the implications of such aggressive interest rate hikes but continues to defend the central bank's hawkish stance.  

Moderna Inc (Nasdaq: MRNA) options are flying off the shelf after the U.S. Food and Drug Administration (FDA) authorized the company's Covid-19 booster shots for children aged 5-11. Already today, more than 51,000 calls and 37,000 puts have been exchanged, which is seven times the average intraday volume. New positions are opening at the most popular contract, the weekly 10/14 140-strike call. Moderna stock was last seen trading at $132.19, though the 9.5% move higher is doing little to dent the equity's 47.1% year-to-date deficit. On the charts, the $115 mark has acted as a floor for much of 2022, though MRNA's 50-day moving average is keeping the security's most recent bounce from that area in check.

Near the top of the Nasdaq, this afternoon stands El Pollo LoCo Holdings Inc (Nasdaq: LOCO), which was last seen 12.9% higher at $10.27. Boosting the shares today is a recently announced special dividend and stock buyback program. The equity opened at its highest level since June but remains 37.2% lower in the last 12 months.

Owens & Minor, Inc. (NYSE: OMI) is trading at two-year lows today and pacing for its worst daily loss in four years after cutting its forecast for 2022 and announcing changes to its leadership team. Last seen down 24.9% at $17.43, OMI sits firmly at the bottom of the New York Stock Exchange (NYSE) this afternoon. Year-to-date, Owens & Minor stock sports a 59.3% deficit.

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