Upbeat Inflation Data, Falling Oil Prices Prop Up Dow

Wall Street is eyeing an upbeat session, with the Dow Jones Industrial Average (DJIup 377 points at midday. Falling oil prices are boosting investor sentiment, with West Texas Intermediate (WTI) crude earlier slipping below $100. Today's better-than-expected inflation data is contributing to optimism, too, with the U.S. Federal Reserve's two-day policy meeting now well underway. Both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also higher, though investors are still monitoring developments in Ukraine's capital city of Kyiv after Russian missile strikes, while weighing new Covid-19 lockdowns in China.

Midday Market Stats March 15

Antero Resources Corp (NYSE: ARis seeing an unusual amount of call activity today. So far, 9,571 calls have crossed the tape, which is double the intraday average, and well above the 877 puts traded. The August 35 call is by far the most popular, followed by the January 2023 40 call. Antero Resources stock was last seen down 1.9% at $24.86, but there is no clear catalyst for today's negative price action. AR is cooling from a March 11, five-year high of $27.31, and is now pacing for its second consecutive daily loss. Year-over-year, though, the security still boasts an impressive 145.9% rise.

AR Chart 2 March 15

Incannex Healthcare ADR (Nasdaq: IXHL) is the best performing stock on the Nasdaq so far today. IXHL was last seen up 203.7% to trade at $69.55, and soared as high as $90 earlier. Today's bull gap comes roughly two weeks after the company went public on March 2, when it closed at $14.88. Week-to-date, the stock has added 409%. 

Meanwhile, ANI Pharmaceuticals Inc (Nasdaq: ANIPis near the bottom of the Nasdaq, last seen down 22.9% at $27.49, after the company reported fourth-quarter profits that fell well short of Wall Street's expectations. The stock is now trading at its lowest level since August, and pacing for its worst single-day percentage loss since December 2011. Year-to-date, ANIP is off 41.6%.

Disclaimer: Schaeffer's Investment Research ("SIR" or "we" or "us") is not registered as an investment adviser. SIR relies upon the "publishers' ...

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.