Tech stocks are sending Wall Street stumbling into the Thanksgiving holiday. The Nasdaq Composite (IXIC) is carrying a triple-digit deficit and eyeing its first loss in the last five sessions, as investors take profits before Thanksgiving. The Dow Jones Industrial Average () has pared modest gains and was last seen lower, while the S&P 500 Index () is poised to snap a seven-day win streak.Wall Street is unpacking the price index for October that was in line with analysts’ expectations of a 0.2% rise. Meanwhile, the Cboe Volatility Index () could snap a four-day losing streak before tomorrow’s holiday closure.
Dell Technologies Inc (NYSE: ) is the most heavily traded stock in the options pits today, with 115,000 calls and 83,000 puts across the tape so far, which is nine times the volume typically seen at this point. New positions are being opened at the top five most active contracts, led by the weekly 11/29 120-strike put. The equity was last seen down 12.7% to trade at $123.75 — among the worst stocks on the SPX — following the weak fourth-quarter forecast and revenue miss. Eyeing its worst single-day percentage loss since May, DELL carries a 31.5% six-month deficit.Ulta Beauty Inc (Nasdaq: ) stock is at the top of the SPX today, up 4.3% to trade at $376.09 at last glance. The will report third-quarter results after the market closes on Thursday, Dec. 5. Shares carry a 23.3% year-to-date deficit, but are looking to close back above their 100-day moving average thanks to a 11% week-to-date pop.
At the bottom of the SPX is HP Inc (NYSE: ), down 12.9% to trade at $34.03 at last check. The shares are pulling back from their Nov. 25, two-year high of $39.80 after the tech hardware company’s fiscal first-quarter profit guidance missed estimates, overshadowing its fiscal fourth-quarter revenue beat. HPQ is testing its 200-day moving average as it stages its since March 2020, but still sports a 12.3% year-to-date lead.More By This Author:
S&P 500, Nasdaq Set To Snap Win Streaks As Tech Cools
