Wall Street On The Sidelines Ahead Of Fed Meeting

Stocks are choppy midday, with investors content to sit on the sidelines ahead of the  tomorrow. The Dow Jones Industrial Average () and S&P 500 Index () are flat at last check, as the latter looks to avoid a third-straight loss. The Nasdaq Composite (IXIC) is cautiously higher, propped up by the Nvidia () . Elsewhere, the Cboe Volatility Index (), Wall Street’s “fear gauge,” is poised to snap three-day skid. MMC Stats June 10
Ford Motor Co (NYSE: ) is getting blitzed by options bulls today, even with no real catalyst. At last check, over 81,000 calls have changed hands, volume that’s double the average intraday amount and quadruple the number of puts exchanged. The weekly 6/14 12.50-strike is the most popular by a wide margin, where new positions are being bought to open. Ford stock is 3% higher on the year, but 8.5% lower in the last 12 months. Southwest Airlines Co (NYSE: ) stock is up 7.8% to trade at $29.52, after the Wall Street Journal reported Elliott Capital Management has disclosed a $1.9 billion stake in the company. Elliott has called for leadership changes and a comprehensive business review of the . LUV is poised for its highest close since a March 12 bear gap, and has now reclaimed its year-to-date breakeven level. MMC Stock Chart LUVHuntington Bancshares Incorporated (Nasdaq: ) stock is 5.9% lower to trade at $12.61, after the regional bank trimmed its annual interest income forecast. Prior to today, HBAN had been carving out a channel of higher highs all year, that culminated in an annual high of $14.29 on May 16. Now though, the shares are back below their year-to-date breakeven level. Stocks Shrug Off Feeble Friday, Secure Weekly WinsStocks Choppy As ‘Higher for Longer’ Fed Rhetoric WeighsS&P 500, Nasdaq Slip Despite Fresh Records

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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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