Options Spy | Used car growth worries, institutions sell CVNA call option orders
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Traders were cautious ahead of the CPI data, with energy and financial stocks leading the decline. Samsung, MCHP issued profit warnings, Nvidia hit another record high.Jpmorgan, Bank of America, Citigroup and Wells Fargo are due to report fourth-quarter and full-year results on Friday. Banking giants are expected to report lower fourth-quarter profits this week as they set aside money to cover bad loans while paying more fees to depositors, Wall Street forecasts.Wholesale used car prices stabilized in 2024 after falling for two years from record highs. Auto data firm Cox Automotive estimates wholesale prices for its manheim Used Car Value Index, which tracks prices of used cars sold at wholesale auctions in the United States, will end 2024 just 0.5 percent higher than they were in December