Stocks are higher today as the market brushes off tariff jitters, though the 10- and 30-year Treasury yields are rising on inflationary concerns amid the trade war. The Nasdaq Composite (IXIC) is up 233 points, with help from Palantir Technologies’ (PLTR) post-earnings surge, while the S&P 500 Index (SPX) and Dow Jones Industrial Average (DJI) sit firmly in the black as well. Meanwhile, job openings fell to 7.6 million in December from 8.2 million in November, marking the lowest reading since January 2021, and before that the pandemic. Analysts had forecast 8 million.
Music streaming giant Spotify Technology SA (NYSE: SPOT) is attracting plenty of options volume today, as the company heads for its sixth consecutive post-earnings win. Though Spotify posted a fourth-quarter earnings miss, soaring subscriber growth and its first annual profit is sending the stock to record highs — up 9.7% at $602.46 at last glance, earlier touching $618.55. So far, 19,000 calls and 18,000 puts have been exchanged, which is 6 times the average daily options volume already. The weekly 2/7 620-strike call is the most active contract, with new positions opening there.
Home furnishing name Flexsteel Industries Inc (Nasdaq: FLXS) is one of the best performing stocks on the Nasdaq today, following the company’s upbeat fiscal second-quarter results and full-year revenue forecast. At last glance, FLXS was up 29.7% at $62.54, climbing back up toward its Dec. 16 record high of $65.87. Estee Lauder Companies Inc (NYSE: EL) stock is crumbling today, down 18.2% at $67.69 at last glance. Though fiscal second-quarter earnings and revenue beat estimates, the company posted a disappointing current-quarter forecast. Plus, the makeup and skincare name is expanding its restructuring plan and plans to cut 5,800 to 7,000 jobs. Tariff worries are also weighing on the beauty retailer. Over the past 12 months, EL has shed 54%.More By This Author:Wall Street Ends Volatile Session With Losses
Stocks Pare Losses After Trump Pauses Mexico Tariffs
Stocks Pivot Lower After Trump Implements Tariffs