The Dow could mark its first close above 47,000
The Dow Jones Industrial Average (DJI) is up 346 points midday, getting a boost from a handful of strong “old economy” earnings reports. Hitting record highs, the blue-chip index is eyeing its first-ever close above 47,000. Meanwhile, the S&P 500 Index (SPX) is flat, while the Nasdaq Composite Index (IXIC) sits modestly lower. Elsewhere, gold futures and the 10-year Treasury yield are both sharply lower, last seen down 4.7% and 3 basis points, respectively.
Continue reading for more on today’s market, including:
- Upbeat earnings drive General Motors stock to 4-year highs.
- Blue-chip stock leaps above resistance after earnings.
- Plus, options traders eye CLOV; meme-stock traders target BYND; and NEUP plummets on failed trial.
Options bulls are targeting Clover Health Investments Corp (NASDAQ:CLOV) today. So far, the stock has seen 145,000 calls exchanged — 11 times the call volume typically seen at this point — compared to just 2,990 puts. The weekly 10/24 3.50-strike call is the most popular by far, with new positions being bought to open there. At last look, CLOV was up 11.5% at $3.25, with the catalyst behind today’s surge unclear.
Beyond Meat Inc’s (NASDAQ:BYND) “meme stock rally” is still going. The shares were last seen up 42% at $2.09, extending last session’s 127.7% pop spurred on by a short squeeze. Familiar pressure at the 60-day moving average could keep a lid on gains today, however. Since the start of 2025, the equity is still down 46.5%.
Biotech stock Neuphoria Therapeutics Inc (NASDAQ:NEUP) is at the bottom of the Nasdaq today, down 67.6% at $4.99 at last glance and trading at its lowest levels since May. The company scrapped its social anxiety program after a failed late-stage drug trial. Year to date, however, the equity remains up 45.5%.