Hot Inflation Data, Rising Yields Pressure Stocks Lower

The Dow Jones Industrial Average (DJI), Nasdaq Composite (IXIC), and S&P 500 Index (SPX) are swimming in red ink this afternoon, once again, with the blue-chip index off more than 430 points and the tech-heavy benchmark sporting a triple-digit loss of its own. Losses come despite President Donald Trump's Federal Reserve chairman pick of Kevin Warsh, which suggests continued Fed independence.

Big Tech struggles to recover from their Microsoft (MSFT)-induced losses, while Apple (AAPL) also weighs heavy after earnings. Treasury yields are inching higher, after core producer price index (PPI) data showed a 0.7% rise, higher than the 0.3% estimate.

• Apple stock stumbles, brushes off upbeat report.
• Mixed results trigger blue-chip stock slide.
• Plus, telecom name with hot options; footwear stocks riding a post-earnings pop; and one of NYSE's worst performers today.

Telecom giant Verizon Communications Inc (NYSE:VZ) is popular in the options pits today, after the company reported a fourth-quarter earnings and revenue beat, with its wireless subscriber growth hitting a six-year peak. Trading at multi-month highs, VZ was last seen up roughly 10% at $43.82, adding to its 9.5% year-over-year gain. So far today, 228,000 calls and 55,000 puts have been traded, six times the average daily rate. Most popular are the weekly 1/30 42- and 45-strike calls, the former set expire at the close and positions opening for the latter.

Deckers Outdoor Corp (NYSE:DECK) is one of the top names on the New York Stock Exchange (NYSE) today, after the company reported a fiscal third-quarter earnings and revenue beat. The company also raised its full-year outlook. DECK is eyeing its best daily pop since October 2023 and sports a three-month gain of 41%. At last check, the shares were trading up 15.1% at $115.03.

Unity Software Inc (NYSE:U) is one of worst stock on the NYSE today, last seen off 20.7% at $30.39, after rival Google launched its "Genie 3" program, a research prototype that allows users to access an infinite number of online worlds. U is heading for its lowest close since early July, shedding more than 33% this week alone, with recent overhead resistance stemming from the 20-day moving average.