Wall Street Static As Fed Feud Freezes Markets

The Dow Jones Industrial Average (DJIA) was last seen moving lower, while the tech-heavy Nasdaq Composite (IXIC) sits in the black. The S&P 500 Index (SPX) is flat, while small caps continue to outperform, with the Russell 2000 Index (RUT) eyeing a third win in the last four sessions. Elevated bond yields, gold prices at two-week highs, and a cooling U.S. dollar are all adding to investor intrigue today. Plus, durable goods orders saw a 2.8% drop in July.

MMC Stats Aug 26


Bitcoin (BTC) miner Hut 8 Corp (Nasdaq: HUT) is a target of options traders today. Before noon, over 48,000 calls have already changed hands, volume that's 6 times the average intraday amount and double the number of puts traded. The October 16 put is the most popular, where sell-to-open activity is detected, per Trade-Alert. HUT is 8.6% higher to trade at $25.43 at last look, trading at its highest level since late January after announcing plans to build four new sites in the U.S. 

Nio Inc - ADR (NYSE: NIOis once more one of the top stocks on the New York Stock Exchange (NYSE) today, last seen up 9.6% to trade at $6.67. Morgan Stanley upgraded the China-based EV name to "overweight" from "neutral," while also hiking its price target to $8 from $4.80, with the analyst in coverage saying "don't doubt the rally." NIO is now 98% higher this quarter alone, and trading at its highest level since early October.

Generac Holdings Inc (NYSE: GNRC) stock is near the bottom of the NYSE, down 2.5% to trade at $188.45. The generator company was downgraded to "neutral" from "buy" at Citi, though the brokerage did hike its price target to $219 from $138. GNRC is testing its 20% year-to-date level today, cooling off from its Aug. 13 nearly three-year high of $203.24. 

(Click on image to enlarge)

MMC Stock Chart Aug 26


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