S&P 500 Eyes Longest Streak Since October With 7 Straight

Stocks are higher midday, with the Dow Jones Industrial Average () on track for its first daily win in three. The S&P 500 Index () and Nasdaq Composite Index (IXIC) extended their  once again, both eyeing a seventh consecutive daily win as investors look ahead to tomorrow’s consumer price index (CPI) report.Federal Reserve Chair Jerome Powell’s comments in his second day of congressional testimony produced no surprises, saying much of the same as yesterday. Meanwhile, oil is slightly higher after a second-straight weekly drop in crude stockpiles. MMC July10
Options bulls are targeting ON Semiconductor Corp (Nasdaq: ) today, with 42,000 calls exchanged so far — 10 times the intraday average volume — compared to just 2,618 puts. The weekly 7/12 80-strike call is the most active contract, followed by the 79-strike call in the same series, with new positions opening at both. ON is up 2% at $74.98 at last glance, despite a price-target cut from Keybanc to $85 from $90, and grappling with pressure at the 200-day moving average. Year to date, the equity is down 10.1%. ON July10
Biotech stock Virpax Therapeutics Inc (Nasdaq: ) is at the top of the Nasdaq today, up 118% at $2.52 at last glace, bouncing further from its late-June record lows, after its pain medication showed promise in an animal study. The shares dropped into penny stock territory in November and are down 23.9% year to date. LegalZoom.com Inc (Nasdaq: ) stock is down 26% at $5.80 at last look, hitting fresh all-time lows, after the company announced the departure of a swift CEO change and slashed its revenue guidance. A flood of analysts chimed in with bear notes after the fact. Since the start of the year, the equity is down 48.6%. 

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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