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Here’s what’s happening in the stock market today:
The stock market is showing cautious mixed moves today as investors grapple with the looming risk of a U.S. government shutdown set to start tonight. 📉⏳ Futures for the Dow Jones, S&P 500, and Nasdaq are down by about 0.2%, signaling some early weakness despite the major indexes being on track for their fifth consecutive month of gains this September. Gold prices had surged to new record highs but have slightly retreated, and crude oil futures are also down, adding to inflation concerns. 🛢️💰
Major Indices Performance 📊
S&P 500 futures are down about 0.2%, but the index is still set for monthly gains.
Dow Jones Industrial Average futures dropped roughly 0.2%, with the index up for the month overall.
Nasdaq futures also declined about 0.2%, led by tech stock volatility.
Market Movers 🚀
Robinhood Markets surged over 12% in early trading.
Western Digital and Seagate Technology climbed 9.2% and 5.3%, respectively.
Coinbase Global and AppLovin also posted strong gains.
Honeywell and Amgen showed modest positive moves among the Dow components.
Key Events Driving the Market 🗞️
The U.S. government faces a shutdown beginning at midnight ET due to a budget impasse, causing investor uncertainty. 🏛️
Investors are awaiting the critical nonfarm payrolls report set for release Friday, hoping it supports the Federal Reserve's outlook for further rate cuts. 💼📉
Treasury yields remain elevated around 4.15% for the 10-year note, keeping downward pressure on stocks versus bonds.
Rising oil prices add concerns that inflation may persist longer, complicating Fed policy.
Investor Sentiment 👀
Overall, investor mood is cautious with subdued trading volume as traders weigh political risks and upcoming economic data. Markets reflect a blend of optimism from strong recent gains and concern over the shutdown and inflation pressures. 🐂⚖️
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TRADE OF THE DAY:
SPOT
Name: Spotify Technology S.A.
Symbol: SPOT
Current Price: ~ $689.12
Trade
Sell to Open: 1 SPOT Oct 24, 2025 620/615 Put Vertical
Total Credit Received: $138.00
Credit per Contract: $138.00
Direction: Bullish
Probability of Profit (PoP): 83.68%
Potential ROI
Max Risk (Loss): $362.00
ROI: ($138.00 ÷ $362.00) × 100 ≈ 38.1%
Trade Explained in Simple English:
You are selling the 620-strike put and buying the 615-strike put in October 2025, collecting $138 up front. If SPOT stays above ~$618.62, both puts will expire worthless and you keep the full credit. Your loss is limited to $362 if SPOT falls below 615 at expiration. Because you’re selling a put spread, this position profits when the stock remains steady or goes up (hence bullish).
Wall Street Highlights:
News Beyond the Numbers
EchoStar's stock surged 9% amid talks to sell part of its 5G wireless spectrum to Verizon, highlighting ongoing telecom negotiations. Read more.
Progress Software raised its full-year forecast and beat earnings estimates, driven by strong demand for its AI-driven infrastructure software. Read more.
Firefly Aerospace shares dropped 12% after a rocket booster exploded during preflight testing, delaying its booster test schedule. Read more.
Jefferies Financial Group saw a 1.3% drop in shares despite posting record investment banking revenue and strong earnings growth. Read more.
Nike is poised for its quarterly earnings release, with shares staying relatively stable ahead of the announcement. Read more.
Disclaimer: The content provided by OptionPicks is for informational and educational purposes only and should not be construed as investment, financial, legal, or tax advice. We are not registered as a broker-dealer, investment adviser, or financial advisor with the SEC, FINRA, or any other regulatory authority. Options trading involves substantial risk and is not suitable for every investor. Past performance is not indicative of future results, and no representation is being made that any subscriber will or is likely to achieve profits or incur losses similar to those mentioned. You should consult with a licensed financial professional before making any investment decisions.
