Stocks Extending Slump as Investor Sentiment Churns

Wall Street's rough week has been well documented at this point, and today looks to be no different. The Dow Jones Industrial Average (DJIA) is down triple digits at last check, with Walmart's (WMT) post-earnings bear gap weighing on the blue-chip index. The S&P 500 Index (SPX) is heading for a fifth-straight loss, while the tech-heavy Nasdaq Composite (IXIC) is modestly lower despite trading on both sides of the aisle already today.

Jobs data coming in at three-month highs is not helping investor sentiment, with Cboe's Volatility Index (VIX) heading for a third-straight win. Further, home sales data for July saw a 2% hike, while inventory sat at its highest level since May 2020.

Continue reading for more on today's market, including:

• What makes this tech stock so attractive?
• Looking to the future after Walmart stock's earnings blunder.
• Plus, fintech calls pop; NIO revving its engine; and solar stocks deep in the red.

Hong Kong-based fintech Futu Holdings Ltd (NASDAQ:FUTU) is getting attention in the options pits today. At last check, 24,000 calls have changed hands, volume that's 4 times the average intraday amount and 5 times the number of puts traded. The weekly 8/22 185-strike call is the most popular, while the weekly 8/29 200-strike call and the October 185 call are also seeing notable activity. FUTU is up 0.5% to trade at $179.49, and hit a four-year high of $184.45 earlier. Yesterday, the shares gapped higher by 6% after the company's second-quarter earnings beat, and are up 125% year to date. 

Nio Inc - ADR (NYSE:NIO) is one of the better stocks on the Nasdaq today, last seen up 7.6% to trade at $5.46. The China-based electric vehicle (EV)company received a price-target hike from Morgan Stanley to $6.50 from $5.90 yesterday, while buzz over the ES8 vehicle pre-launch has retail traders taking a flier. NIO is heading for a fifth-straight win, highest close since October, and now boasts a 25% year-to-date gain.

Canadian Solar Inc (NASDAQ:CSIQ) is on the other end of the aisle, down 19.5% to trade at $10.26. The company reported a third-quarter guidance well short of estimates, while solar stocks across the board are struggling today after President Donald Trump announced the U.S. will not approve wind or solar projects. Today's bear gap has CSIQ into the red for the year, on pace for its worst day since November, and down nearly 30% in the last 12 months.