Stocks are firmly higher this afternoon, with the Dow Jones Industrial Average (DJI) up triple digits as comments from New York Fed President Williams spark interest rate cut optimism. All three major indexes are still in the red for the week, however, amid AI valuation concerns. The Nasdaq Composite Index (IXIC) is heading for its third-straight weekly drop and largest weekly percentage loss since April. Elsewhere, Wall Street's favorite fear gauge -- the Cboe Volatility Index (VIX) -- is pacing for a fourth-straight weekly gain, as well as its best weekly performance since Oct. 10

 
Shares of Workday Inc (Nasdaq: WDAY) are up 2% to trade at $221.16 at last check, after Raymond James initiated coverage with a "market perform" rating. Drilling down to today's options activity, 24,000 calls and 24,000 puts have already swapped hands -- 37 times the volume typically seen at this point. The most popular contract is the November 200 call, where new positions are being opened. WDAY now sports a 16.9% year-over-year deficit, and yesterday hit its lowest level since September amid resistance at the 20-day moving average.

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D.R. Horton Inc (NYSE: DHI) is near the top of the SPX today, up 6.4% to trade at $146.16 at last check, and pacing for its biggest single-day percentage gain since August. While a catalyst for this positive price reaction is unclear, DHI is rebounding from recent sharp moves lower, and sports a 14.6% year-over-year lead. 

Oracle Corp (NYSE: ORCL) stock is near the bottom of SPX today, last seen down 7.8% to trade at $194.24 as investors continue to fret over AI spending. The equity has been on a downward trajectory since its Sept. 10, record high of $345.69, and earlier hit its lowest level since June after breaching recent a recent floor at the $220 level. For 2025, ORCL still sports a 16.6% lead.

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