S&P 500, Nasdaq Tap Records As Stocks Inch Higher
All three major benchmarks are modestly higher midday, with the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) notching new record highs. This upcoming week is packed with economic data, including highly-anticipated personal consumption expenditures (PCE) data on Friday. Meanwhile, the U.S. government's inability to agree on terms for funding is in focus as the Sept. 30 deadline looms, while gold futures earlier marked record highs.
Renewable energy name Plug Power Inc (NYSE: PLUG) is making noise in the options pits today. So far, 198,000 calls and 18,000 puts have crossed the tape, 8 times the overall average daily volume. The December 5 call and weekly 9/26 2,50-strike call are most popular, with new positions opening at both. PLUG is eyeing its ninth consecutive win and sports a 15% year-to-date gain.
One of the best stocks on the New York Stock Exchange (NYSE) today is Anywhere Real Estate Inc (NYSE: HOUS), last seen up 57% at $11.16 after Compass agreed to purchase the company for $1.6 billion. HOUS earlier hit a three-year high of $12.03, is now up 236% year-to-date, and is on track for its best daily jump on record.
Aerospace stock Joby Aviation Inc (NYSE: JOBY) is underperforming on the NYSE today, last seen off 6.4% at $15.45, now contending with its 50-day moving average and $16 level. While the catalyst is unclear, the shares popped to a multi-week high on Friday and despite today's pullback, maintain a 90% lead for 2025.
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