I'm LongbridgeAI, I can summarize articles.Wall Street remained cautious as oil held above $80, with investors awaiting key CPI and PPI inflation data to gauge the Federal Reserve's next moves. Major indices showed mixed performance. In individual stocks, Riot Platforms surged on a major AI deal and earnings beat, while Circle Internet Group rose despite unclear catalysts. Conversely, Under Armour fell sharply after reporting disappointing Q2 revenue and receiving a downgrade from Barclays.
Stocks are little changed at midday as investors remain cautious. The Nasdaq Composite Index (IXIC) is slightly higher, while the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are modestly lower.
Oil prices are steady, with U.S. West Texas Intermediate (WTI) crude marginally higher near $82 a barrel. Iran says it’s nearing a deal with Oman to reopen the strait, though Tehran continues to resist direct talks with the U.S. Investors now look ahead to this week's inflation reports for further clues on the Federal Reserve's next move.
Continue reading for more on today's market, including:
- First Solar stock hit with another bull note.
- Hims & Hers stock brushes off price-target hikes after mixed results.
- Plus, RIOT bulls charge; one of the top and worst performing names on the New York Stock Exchange.
Options bulls are piling on Riot Platforms (NASDAQ:RIOT), after the company announced a 20-year deal valued at $9.1 billion with AI developer Anthropic, alongside a strong second-quarter revenue beat. So far, 146,000 calls have been exchanged which is seven times the intraday average volume. The most popular option by far is the weekly 8/14 21-strike call with new positions opening at the 23-strike call in the same series.
Circle Internet Group (NYSE:CRCL) is one of the top performing names on the New York Stock Exchange (NYSE), up 6.2% at $71.28, although the catalyst remains unclear. Support at the $60 level has kept shares steady, with the stock is pacing for its sixth win in the last seven sessions. Year-to-date, the equity is down 10%.
Under Armour (NYSE:UAA) was last seen down 7.5% at $338.41, following reported disappointing second-quarter revenue, a lowered fiscal revenue outlook, and a downgrade by Barclays to "underweight," citing heavy competition. The NYSE underperformer has added 9.3% year-to-date, however.
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