Options Traders Blast Soaring Drug Stock

September's inflation data will be closely watched tomorrow

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Schaeffer's Market Recap
10/12/2021
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Stocks Drop Ahead of Inflation Data, Earnings Season


By: Fernanda Horner

It was a quiet day on Wall Street, for the most part. That is, until the final hour, when the Dow shed triple digits to log its third-straight loss. Investors digested the International Monetary Fund's (IMF) slashed global growth forecast, as well as a sharp drop in job openings in August. Supply chain issues also weighed on sentiment, with the S&P 500 and the tech-heavy Nasdaq finishing with their own third consecutive day in the red.

Investors are now shifting their attention to tomorrow's release of the consumer price index for September, as well as last month's Federal Open Market Committee (FOMC) meeting minutes. They are also looking ahead to earnings reports from JP Morgan Chase (JPM) and Delta Airlines (DAL), marking the unofficial beginning of the third-quarter earnings season tomorrow.

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

  • Behind this blue chip stock's pre-earnings leadership shakeup.
  • See why Ocugen stock scaled the Nasdaq today.
  • Plus, analyst sings ABNB's praises; the pros and cons of REITs; watch this infrastructure stock.
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