Dow Up Over 270 Points Despite Big Tech Volatility

Stocks are scattered today, as Wall Street tries to overcome a dismal jobs report and choppy tech sector sentiment. The Dow Jones Industrial Average (DJI) boasts a triple-digit gain, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) inch higher. The tech-heavy latter briefly pivoted into the red after a report indicated Microsoft (MSFT) trimmed its AI-tied software sales quotas. Elsewhere, bright spots for the day include better-than-expected October services sector data from the Institute for Supply Management (ISM), as well as Bitcoin (BTC) reclaiming $93,000.

Iron and steel stock Vale SA (NYSE:VALE) is seeing ramped up options activity today. At last check, 38,000 calls have changed hands, volume that's double the average intraday amount and almost seven times the number of puts traded. The December 13 call is seeing the most action. VALE is up 3% to trade at $13.23 thanks to a price-target hike from HSBC to $15 from $14. Year to date, the Brazilian-based mining name is up 49%, and hit an 18-month high of $13.32 earlier.

Drug maker Vertex Pharmaceuticals Inc (NASDAQ:VRTX) stock is one of the best performers on Wall Street today, last seen up 4.5% to trade at $453.37. Morgan Stanley upgraded VRTX to "overweight" from "equal-weight" while hiking its price target to $516 from $438. The analyst in coverage was bullish on Vertex's kidney drug pipeline potential. Vertex stock is up nearly 25% off its Aug. 11 annual low of $362.50, filling the 20% bear gap from early August. 

GitLab Inc (NASDAQ:GTLB) stock is near the bottom of the Nasdaq today, down 14.3% to trade at $37.16, after the software company's fiscal second-quarter earnings and revenue fell short of estimates. No fewer than 10 brokerages have trimmed their price target in response, the worst coming from Barclays and Truist Securities to $42. GTLB is down 34% in 2025, and has breached key support at $40, an area that's cushioned pullbacks since early April.