Nasdaq Nabs New Record; Major Weekly Wins Remain In Sight
Stocks are mixed, though all three major indexes are poised to finish the week with healthy wins. The Dow Jones Industrial Average (DJI) is down triple digits amid a bout of profit taking, while the S&P 500 Index (SPX) sits flat. The tech-heavy Nasdaq Composite Index (IXIC) is sporting a modest gain with help from Tesla (TSLA) stock's surge, earlier hitting a record peak.
Consumer sentiment out of the University of Michigan showed September's preliminary reading fall to 55.4, its lowest reading since May. Investors will now look to next week's highly anticipated Fed rate cut decision.
Quantum computing stock Rigetti Computing Inc (Nasdaq: RGTI), is making noise in the options pits, with 422,000 calls and 279,000 puts traded so far -- 6 times the average daily volume. Most popular are the September 20 call and 17 put, with new positions being opened at both. RGTI was last seen trading 12.9% higher at $18.84, amid new international partnerships. Today's pop has the equity pressuring its early January record near $21.
One of the best stocks on the New York Stock Exchange (NYSE) today is IONQ Inc (NYSE: IONQ), last seen up 15% at $54.18 after the company landed regulatory approval to acquire Oxford Ionics. Quantum name IONQ is fresh off a record high of $56.05 and eyeing its best day since May 22. Plus, the stock is adding to its now 30% year-to-date gain, which was aided by long-term support at the ascending 200-day moving average.
Communications stock Arista Networks Inc (NYSE: ANET) is down 7.2% at $141.96 at last check, one of the worst performing stocks on the NYSE today. The shares are pulling back after yesterday's surge to record highs, following the company's self-proclaimed boost regarding AI growth outlook at its analyst day. A slew of price-target hikes have circled the equity, including one to $185 from $160 at Melius Research. ANET is up 28% year-to-date.
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