Option Movers | NIO Sees 58% Call Options; U.S. Steel, Dollar Tree and C3.ai's Volume Surges
Market OverviewU.S. stocks finished slightly lower in choppy trading on Wednesday (Sep. 4) following labor market data and comments from a Federal Reserve official that bolster the case for an interest rate cut.Regarding the options market, a total volume of 36,242,099 contracts was traded, down 17% from the previous trading day.Top 10 Option VolumesTop 10: $NVDA(NVDA)$, $TSLA(TSLA)$, $AAPL(AAPL)$, $AMD(AMD)$, $INTC(INTC)$, $AMZN(AMZN)$, $NIO(NIO)$, $X(X)$,
Options Spy | Jumped the fourth largest exchange, COIN call options volume increased
Wall Street traders and investors are bracing for key inflation data and looking for clues on the outlook for interest rates from the data and comments from Federal Reserve officials.Earlier, U.S. stocks edged lower after the Commerce Department's Bureau of Economic Analysis revised fourth-quarter GDP growth to a 3.2 percent annual rate, down slightly from the first estimate of 3.3 percent. The revision largely reflected a downward revision to inventory investment, which masked strong household spending and investment growth.Traders now expect the Fed to cut rates by about 80 basis points by the end of the year, equivalent to three rate cuts this year, almost in line with the expectations officials gave in December, but below the nearly 150 basis points market expectations in early Februar
Federal Reserve Chairman Jerome Powell doused hopes of a March rate cut as strong economic data reinforced the view that the Fed is not ready to declare victory over inflation. On the data front, the US ISM non-manufacturing index for January this year was 53.4, beating market expectations and the largest increase in a year, further reducing the possibility of the Federal Reserve to cut interest rates in March.On the political and economic front, Fed Chairman Jerome Powell said policy makers may wait until after March to cut interest rates, officials want to see more data to ensure that inflation is sustainable to achieve the 2% target, and any signs of weakness in the U.S. labor market or clear lower inflation will prompt the FOMC to act faster. Powell hinted that the first rate cut this
Options Spy | Apple shares take off? Latest call option price target 265
The S&P 500 hit another record high as technology stocks extended their recent rally. Companies set to report their latest earnings this week include Netflix, Tesla, ABT, Intel and Johnson & Johnson. Tech giants like Microsoft and Apple report next week.Investor expectations for the Fed's first rate cut in March have fallen sharply to about 40 percent, down from nearly 81 percent a week ago, according to CME Group's FedWatch tool. By contrast, the market puts the chances of the Fed staying put at nearly 58 percent, up from about 19 percent a week ago.On Friday, Apple's (AAPL)$long-awaited MR Vision Pro finally opened for pre-order. The new product was frantically snapped up in the pre-sale, which boosted Apple's share price to a certain extent and managed to recover the year's decl
Options Spy | Apple's buy call order is on the list with a 2024 price target of 240
Major U.S. stock indexes rose for a seventh straight week, with the S&P 500 Posting its longest winning streak in six years. The Federal Reserve's admission on Wednesday that its efforts to tame inflation are working, signaling at least three interest rate cuts in 2024, boosted investor sentiment and helped Wall Street rally this week.In terms of economic data, the latest survey of the Federal Reserve Bank of New York showed that the New York manufacturing index fell to -14.5 in December, a four-month low, reflecting the continued difficulties of the manufacturing industry. The Standard & Poor's purchasing Managers' Index also pointed to weakness in the U.S. manufacturing sector, while service sector activity rose to a five-month high.U.S. Steel confirmed that it will be acquired b
Options Spy | PDD once again leads the e-commerce bullish
The U.S. small nonfarm ADP data was in line with expectations of a soft landing, and the 10-year U.S. Treasury rate hit its lowest level in more than three months.On the data front, the ADP employment report, also known as "small non-farm", was released on Wednesday. Data showed that U.S. private employers added a seasonally adjusted 103,000 jobs in November, well below economists' expectations of 130,000. U.S. companies cut back on hiring in November, another sign that the U.S. labor market is cooling.The Commerce Department's Census Bureau said the trade deficit rose 5.1 per cent to $64.3bn in October, beating economists' forecasts of $64.2bn and hitting a three-month high. The revised trade deficit fell to $61.2 billion in September, slightly lower than the previously reported $61.5 bil
Options Spy | Institutions believe that SE gains are limited and sell call options
Investors awaited upcoming inflation data, talks by Federal Reserve officials and corporate earnings reports. Nvidia posted its ninth straight day of gains.Federal Reserve Chairman Jerome Powell warned that officials are "not confident" that interest rates are high enough to end the battle against inflation and that the central bank could raise rates further.Markets will keep an eye on several Fed officials speaking this week, They include New York Fed President John Williams, Chicago Fed President Austan Goolsbee, Fed Governor Philip Jefferson and Vice Chairman for financial Supervision Michael Barr.U.S. consumers' expectations for short-term inflation fell slightly in October, with a mixed view of their own finances, a New York Federal Reserve Bank survey showed on Monday.The U.S. consum
Options Spy | The volume of ITM put options in tech stocks surged
With less than four days to go before the government shutdown, upbeat economic data has pushed U.S. bond rates back up, a sharp rise in oil prices has weighed on the broader market, tech giants like Apple are teetering, and Meta shares are lower after the launch of its Quest 3 headset.The yield on the 10-year Treasury rose about 6 basis points to its highest level since 2007. On the data front, U.S. Commerce Department data showed on Wednesday that orders for durable goods rose 0.2 percent in August, well above market expectations of -0.5 percent, buoyed by a rebound in factory equipment orders, underscoring the strength of business investment despite policy rates remaining elevated.Federal Reserve Bank of Minneapolis President Neel Kashkari said in an interview on Wednesday that it was un
Options Spy: When Nvidia rose, Intel's OTM put options were unusually high
Nvidia surged more than 7 percent and technology stocks surged, leading U.S. stocks to break out of a two-week slump. However, Tesla cut prices and electric vehicles were generally weak. AMC shares plunged 35% after a preferred stock conversion plan was approved.As earnings season comes to a close, the focus turns to retail earnings this week, including Home Depot on Tuesday, Target on Wednesday and Walmart on Thursday.Minutes from the Federal Reserve meeting to be released on Wednesday will also be closely watched as investors look for more clues on the outlook for monetary policy and see whether most officials are sounding hawk or dove. Goldman expects the Fed to hold off on raising rates at its regular September meeting and then announce in November that inflation is slowing, meaning fu
Top Calls on Wall Street: Apple, Tesla, Microsoft, Amazon, Goldman Sachs and More
Here are Thursday’s biggest calls on Wall Street:Wells Fargo reiterates Goldman Sachs as overweightWells said it’s standing by its overweight rating on the stock but trimmed its second-quarter estimates due to lower trading.“Better capital markets activity could be a catalyst for GS, and recent IPO activity gives some hope of a rebound.”Bank of America upgrades XP to buy from neutralBank of America said the Brazilian investment company’s shares will re-rate higher.“As the largest independent broker in Brazil, XP’s earnings are poised to benefit from an easing cycle, while trading multiples have room to re-rate higher.”Deutsche Bank upgrades Anheuser Busch InBev to buy from holdDeutsche said it sees “light at the end of the tunnel” for the Bud Light parent.“Nielsen data suggests ABI’s US bu
XP Inc. provides financial products and services in Brazil. It operates XP Platform, an open product platform that provides clients to access investment products in the market comprising brokerage securities, fixed income securities, mutual, hedge, and private equity funds; derivatives and synthetic instruments; credit cards; loan operations/collateralized credit products; pension and social security funds, and life and travel insurance products; and other investment products comprising real estate funds, and equity and debt capital markets solutions, as well as wealth management services. The company offers brokerage and issuer services to institutional and corporate clients. It also manages mutual funds focused on stocks and macro strategies distributed to retail and to institutional clients; funds and managed portfolios for high-net-worth retail clients, and proprietary treasury funds; and passive mutual funds that track market indexes, and mutual and investment funds focused on fixed income, credit, real estate, infrastructure, and other alternative strategies. In addition, the company offers securities brokerage services for institutional and retail investors; interdealer brokerage services for institutional traders; and commercial and investment banking products, such as loan operations and transactions in the foreign exchange markets and deposits, as well as develops and sells financial education courses and events online and in person to retail clients. It offers its sell products and services through its omni-channel distribution network and online portals. XP Inc. was founded in 2001 and is based in Grand Cayman, Cayman Islands.
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Beneficial Ownership Change
Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend]