Dow Clings to Gains as Tech Setback Weighs

Both the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are trading lower this afternoon, with the tech sector sliding as concerns grew around OpenAI's long-term financial sustainability. The Dow Jones Industrial Average (DJI) is inching higher thanks to a post-earnings boost from blue-chip Coca-Cola (KO), but remains subdued as investors await updates regarding stalled peace talks between the U.S. and Iran. Today also marked the first day of the Federal Open Market Committee (FOMC) meeting, which will conclude tomorrow with a speech from Federal Reserve Chairman Jerome Powell. 

• Rosy outlook not enough to spare General Motors stock.
• Blue-chip stock pops on profit beat.
• Plus, options traders swarm RMBS; retailer enjoying a post-earnings surge; and one of NYSE's worst performers today.

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Rambus Inc (NASDAQ:RMBS) is seeing ample activity in the options pits today, with 8,777 calls and 5,642 puts traded so far today, volume that is 11 times the average daily pace. Most popular is the weekly 1/15 190-strike call for 2027, where new positions are being opened. RMBS made its way onto the short sale restricted (SSR) list after the semiconductor name suffered a profit miss for Q1. Despite today's 23% bear gap to trade at $108.19, RMBS remains 20% higher for 2026.

Centene Corp (NYSE:CNC) is near the top of the New York Stock Exchange (NYSE), up 12.3% to trade at $48.83 and is trading at its highest level since July after the company raised its adjusted profit forecast for 2026. CNC is on track for its fourth-straight daily gain and is up 47% this quarter alone.

United Parcel Service Inc (NYSE:UPS) is one of the worst performers on the NYSE today, down 5.8% to trade at $102.02 after the shipping giant warned the rise in fuel costs could hurt demand. This news is overshadowing a first-quarter earnings and revenue beat, the stock now eyeing its worst day since March 5. The descending 50-day moving average is also adding pressure, with UPS testing its year-to-date breakeven level.