Options Traders Expect SNOW to Fall

The Dow is up 70 points midday

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Schaeffer's Midday Market Check
3/04/2021
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Stocks Mixed Ahead of Fed Speech


By: Laura McCandless

The Dow Jones Industrial Average (DJI) is up 70 points at midday, amid better-than-expected weekly jobs data, with initial jobless claims totaling 745,000 for last week. Meanwhile, the S&P 500 Index (SPX) is struggling for direction, while the Nasdaq Composite (IXIC) sit modestly in the red, as investors remain wary of the 10-year Treasury yield, which now holds at 1.46, and its effect on the tech sector. Looking for guidance on the economy, investors are eagerly awaiting remarks from Federal Reserve Chair Jerome Powell early this afternoon. Elsewhere, gold prices are near their lowest level in nine months. 

Continue reading for more on today's market, including:

  • Fitness stock falters after analysts' weak growth forecast. 
  • SNOW is seeing a flurry of activity from analysts and option traders today. 
  • Plus, Option traders rush to FPRX after buyout; BURL shoots to record highs; and WPG hits fresh lows on bankruptcy buzz.
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