Blue-Chip Earnings Drive Dow Back Above 50K

Upbeat earnings from blue-chip behemoth Cisco Systems (CSCO)  and continued monitoring of President Donald Trump's meeting with China's Xi Jinping are leading markets higher today, with the Dow Jones Industrial Average (DJI) now back above the round 50,000 mark. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are sporting healthy gains as well.

Meanwhile, Treasury Secretary Scott Bessent said the China meeting included discussions on the region buying more energy from the U.S. Plus, retail sales for April rose 0.5%, matching estimates, while weekly jobless claims showed a reading of 211,000, higher than the 205,000 expectation.

• A market breadth study you don't want to miss, by Senior Quantitative Analyst Rocky White.
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• Plus, options traders drive to Ford stock; payments name pacing the NYSE; and a struggling energy stock.

Ford Motor Co (NYSE:F) stock is up 7.7% to trade at $14.62, continuing its run higher after revealing its Ford Energy battery unit. Earlier F tapped a nearly three-year high of $14.94 and now sports an 10% year-to-date gain. Options traders have swarmed in, with 430,000 calls across the tape so far, 11 times the average daily pace. Seeing the most attention is the May 15 call, set to expire tomorrow at the close.

Klarna Group PLC (NYSE:KLAR) is one of the top stocks on the New York Stock Exchange (NYSE) today, last seen up 16.6% to trade at $15.96, after the payments software platform posted a narrower-than-expected first-quarter loss and a revenue beat. KLAR is gapping higher in response, testing the overhead $16 level, a ceiling of long-term resistance for the shares. The equity remains 44% lower year-to-date.

One of the worst NYSE stocks this afternoon is JinkoSolar Holding Co., Ltd (NYSE:JKS), last seen down 5.9% to trade at $24.50. While the catalyst for today's pullback is unclear, JKS is carving deeper into its 5% year-to-date deficit, after yesterday's breakout attempt was thwarted by the $26 level.