The major indexes are hitting record highs once again, as investors await the Federal Reserve's interest rate decision, due out at 2 p.m. ET., and subsequent commentary from Fed Chair Jerome Powell. The Dow Jones Industrial Average (DJI) and tech-heavy Nasdaq Composite (IXIC) are both headed for their fifth-straight triple-digit pops, while the S&P 500 Index (SPX) also eyes a fifth-straight gain as it nears the 7,000 milestone. Meanwhile, Nvidia (NVDA) surpassed $5 trillion in market value, becoming the first company in history to do so. 

Telecommunications stock Nokia Oyj (NYSE: NOK) is the most popular stock in the options pits today, one day after news that Nvidia (NVDA) will invest $1 billion in the company as part of its deal focused on AI and data centers. The stock surged 22.2% to a four-year high last session, and was last seen down 3.3% at $7.51 today. Year to date, the equity is up 70%. So far, 212,000 calls and 68,000 puts have been exchanged during today's trading -- already 2.5 times NOK's average daily volume. The January, 21 2028 7-strike put is the most popular, with new positions being sold to open there. 

Industrial machinery stock Flowserve Corp (NYSE: FLS) was last seen up 23.2% at $64.85, earlier hitting a nearly 11-year peak of $68.07. The company reported mixed third-quarter results and divested its BW/IP subsidiary, with Acorn Investment Partners absorbing all asbestos liabilities and simplifying Flowserve's structure. Breaking into positive territory for 2025, FLS is now up 18% year to date. 

Education stock Stride Inc (NYSE: LRN) is heading for its worst day ever, down 49% at $78.34 at last check. Though the company reported strong fiscal first-quarter results, enrollment growth disappointed investors, while its full-year forecast came in below expectations. Year to date, LRN is down 27%. 

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