Stocks Move Lower As Consumer Sentiment Weighs

Stocks are moving lower to end the week, pivoting into the red after opening higher this morning. Weaker-than-expected nonfarm payrolls data and an alarming drop in February's consumer sentiment survey is the culprit, with the latter detailing worries about tariffs impacting near-term inflation. Rising bond yields are also weighing on investors, with the 10-year Treasury yield last seen above 4.5%.

The Dow Jones Industrial Average (DJI) is off more than 200 points midday, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are poised to snap three-day win streaks. For the week, all three indexes are still eyeing comfortable wins.

mmcchartfeb7


Wreaking havoc in the options pits this afternoon is Affirm Holdings Inc (Nasdaq: AFRM), after the fintech posted a fiscal second-quarter earnings beat and revealed its new debit card. So far, 141,000 calls and 45,000 puts have crossed the tape, which is 12 times the average daily options volume. The weekly 2/7 75 and 72-strike calls are most popular, with new positions being sold to open at both. At last glance, AFRM is up 21.2% at $74.66, just shy of a two-year high and finally breaking above recent pressure at the 50-day moving average.

afrmmmc50day

 
Pinterest (NYSE: PINS
is one of the top performers on the New York Stock Exchange (NYSE) this afternoon, up 17.9% at $39.54, after the social media platform shared a record number of monthly users and an upbeat current-quarter outlook. A handful of bull notes came in response, including an upgrade to "buy" from "hold" at Benchmark. Today's surge has PINS sporting a 37% gain for 2025.

Software firm BILL Holdings Inc (NYSE: BILLis one of the worst performers on the NYSE today, down 31.5% at $66.17 at last check, after the company posted a grim core revenue outlook. Today's bear gap has the equity trading at three-month lows and off more than 20% year-to-date.


More By This Author:

Nasdaq, S&P 500 Log Third Consecutive Win
Dow Cools Off As Semiconductor Stocks Suffer
Stocks Settle Higher, Shrug Off Tech Weakness

The posts on this blog are opinions, not advice. Please read our Disclaimers.

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Or Sign in with
Adam Barron 4 weeks ago Member's comment

Really?  Bearish.