Stocks are finally taking a breather from their record-breaking post-election rally. The Dow Jones Industrial Average (DJI) is carrying a triple-digit midday loss, while both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are firmly below breakeven as well. Investors are eyeing the release of the consumer price index (CPI) and producer price index (PPI) for October later this week, as they monitor the U.S. dollar’s rise against other currencies.
Options bulls are blasting Sea Ltd (NYSE: SE) stock in the options pits, with 27,000 calls traded so far today — 13 times the amount typically seen at this point — compared to just 6,891 puts. The most active contract is the November 120 call, where new positions are being opened. SE is up 13.1% to trade at a two-year high of $110.33 at last check, after the e-commerce company beat third-quarter revenue expectations. Shares are eyeing their best single-day percentage gain since March 2023 and now boast a 176% year-to-date lead.The best stock on the SPX today is Tyson Foods Inc(NYSE: TSN),last seen up 9.5% to trade at a fresh two-year high of $64.37, just shy of its Sept. 6, 52-week closing high of $65.87. The food industry giant reported better-than-expected earnings and revenue for the fiscal fourth quarter, citing strong demand for its pork and beef products. Pacingfor its best day since February 2022, TSN sports a 41.5% year-to-date lead.Mosaic Co (NYSE: MOS) stock is at the bottom of the SPX today, last seen down 7.2% to trade at $26.02 at last glance, its lowest level since late October. Shares are gapping below their 40-day moving average after the company missed third-quarter profits and revealed its CFO is retiring. On track for its worst daily performances since May 2023, MOS carries a 26.6% deficit for 2024.
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