Stocks, Bond Yields Fall Again
There's little appetite for buying on the Street today
Stocks are broadly lower today, as concerns about the economy and U.S.-China trade relations weigh. Bond yields are falling again, with the 10-year Treasury yield slipping to a nearly two-year low. The retail sector is one of the worst performing areas so far, as is the trade-sensitive tech sector. The Dow Jones Industrial Average (DJI) has dropped almost 400 points as a result, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are staring at stiff losses, as well.
Continue reading for more on today's market, including:
FDA news boosts pharma stock. The best FAANG stock for summer. Plus, Beyond Meat bulls keep betting; a stock that's quintupled; and Canada Goose gets drilled.
There's unusual options trading on Beyond Meat Inc (NASDAQ:BYND), as the stock trades up another 6.3% at $91.39. New positions are opening at the weekly 5/31 90-, 95-, and 100-strike calls, as traders seem to be betting on more upside from BYND through week's end, when the contracts expire. The equity's week-to-date lead is already pushing 15%.
The shares of acoustic shockwave technology specialist Soliton Inc (NASDAQ:SOLY) continue their amazing run on the charts. After trading as high as $29 earlier, the stock was last seen trading up 26.3% at $19.38, thanks to news of positive data in the company's proof-of-concept trial for its cellulite treatment. SOLY yesterday rallied after the Food and Drug Administration (FDA) approved its tattoo removal device. The shares were trading around $5 just a few sessions ago.
