Wall Street Moves Higher On Earnings, Economic Data

Wall Street's gains are accelerating this afternoon, as investors weigh several notable earnings reports and rising Treasury yields. In addition, traders are digesting this morning's jobless claims data, as well as the Philadelphia Fed's manufacturing index, with the latter coming in lower than expected. Still, the Dow Jones Industrial Average (DJI) is roughly 285 points higher at last glance, while the Nasdaq Composite Index (IXIC) and S&P 500 Index (SPX) are also both well in the black. 

Midday Market Stats October 202022

With solar stocks getting a fair bit of attention from analysts today, it seems fitting that Sunnova Energy International Inc (NYSE: NOVA) would see notable options-related activity. So far, 11,000 calls and 6,338 puts have been exchanged, or 16 times the intraday average, with new positions opening at the most popular contract, the November 20 call. At last glance, NOVA was up 0.9% to trade at $16.04 and barely making a dent in its 43.1% year-to-date losses. On the charts, the equity's pullback accelerated after crossing back below its 160-day moving average.

NOVA Chart October 202022

Monarch Casino & Resort, Inc. (Nasdaq: MCRIwas last seen up 15.8% at $71.28 and standing near the top of the Nasdaq after securing a round of post-earnings bull notes. The analyst optimism comes after Monarch Casino & Resort reported record operating results for the third quarter. As a result, the shares are trading at their highest level since April, and now stand nearly 6% higher year-over-year.

Heritage-Crystal Clean, Inc. (Nasdaq: HCCI), meanwhile, also reported third-quarter results today, beating out top- and bottom-line estimates to turn in notable wins. The company's shares are falling in response, however, last seen down 10.2% to trade at $29.01. HCCI earlier surged towards the $33.60 level but pulled back to now sport a 13.3% year-to-date deficit. 

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