Dow, Nasdaq Up Over 200 Points as Stocks Bounce Back

Easing crude prices are guiding Wall Street out of the doldrums, as investors monitor the latest developments in the Middle East. West Texas Intermediate (WTI) crude for April delivery was last seen down 0.6% near $74, following comments from Treasury Secretary Scott Bessent that workarounds are available to keep oil supplies flowing.

Magnificent 7 stocks are giving the broader market a boost, with Tesla (TSLA) and Amazon.com (AMZN) charging higher, the former off an upgrade from Bank of America to "buy" amid robotaxi optimism. The Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) are sporting more than 200-point leads midday, while the S&P 500 Index (SPX) enjoys a modest lift of its own.

• Bitcoin surge lends crypto wallet a leg up.
• Retail name roaring higher after earnings.
• Plus, put pop on DHI; another soaring crypto stock; and an oil stock cools off.

Seeing an unusual surge in options activity today is D.R. Horton Inc (NYSE:DHI), with 26,000 puts traded so far, volume that's 14 times the average amount seen at this time. Most popular are the weekly 3/6 150- and 152.50-strike puts, with considerable sell-to-open activity detected at the former. The homebuilder stock is down 0.2% to trade at $152.37, after Truist Securities initiated coverage with a "hold" rating and $155 price target. DHI is headed for a third-straight drop and is down 11.4% in the last six months.

Bitcoin-adjacent Hut 8 Corp (NASDAQ:HUT) is one of the top stocks on the Nasdaq this afternoon, rising with the digital asset sector, last seen up 14.3% at $54.41. Now boasting a 16% year-to-date gain, yesterday's pullback was captured by the stock's ascending 120-day moving average. HUT is eyeing its best pop in nearly a month.

APA Corp (NASDAQ:APA) is sitting out today's rally, down 3.3% to trade at $30.79. Oil & gas stocks are in the red across the board, as investors take profits from their early-week surge. Despite today's pullback, APA is 26% higher year to date and hit a two-year high of $32.77 yesterday.