Stocks stay afloat in holiday slump

The three indexes reduced the strong losses of the morning

The Dow Jones Industrial Average (DJI) is 54 points higher at midday, paring steep morning losses as traders unpack stronger than expected PMI data. The S&P 500 (SPX) and the Nasdaq Composite (IXIC) have also worked their way out of the red and are sitting slightly above equilibrium at last check. The latter hopes to end a six-day losing streak today, even as the tech-heavy index is weighed down by soaring Treasury yields.

Keep reading to learn more about the current market, including:

  • Praise from analysts failed to boost this travel stock.
  • FedEx Inventory downgraded in case of macro headwinds.
  • Additionally, the biotech name sees hot options activity; ADT Leaps on Investment Buzz; and GETY extends liquidation.

September 6 MMC Stats

Biotechnology name IVERIC bio Inc (NASDAQ:ISEE) sees increasing activity in options today. So far, 39,000 calls and 43,000 puts have passed through the band, a volume 16 times higher than what is usually seen at this point. The most popular is the September 7.50 put, followed by the 5 call in the same standard series. Equity rose 51.7% to $14.32 when last checked after the company’s ocular drug candidate for geographic atrophy (GA) met the primary target of a trial of advanced stage. In response, ISEE received a rise in Credit Suisse’s price target to $27 from $24, and is trading at its highest level since May. Since the start of the quarter, the shares are up 42%.

ADT inc. (NYSE:ADT) is one of the best stocks on the New York Stock Exchange (NYSE) today, with a latest rise of 13% to trade at $8.15. The company secured a $1.2 billion investment from State Farm in a partnership for its smoke detection and intrusion products, and an additional $150 million from Alphabet (GOOGL) for development of products. Shares are bouncing off a pullback towards the $7.10 region, which was captured by its 80-day moving average. In the last quarter, ADT added 31.4%.

TDA 80 days

MeanwhileGetty Images Holdings Inc. (NYSE:GETY), is down the NYSE, last seen down 12% to trade at $13.08, although there is no clear reason for this negative price action. The stock has fallen on the charts since its all-time high of $37.88 on Aug. 2, losing nearly 45% on Friday, and may today top its 100-day moving average.

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