Dow Down 520 Points as Tech Tries to Rally

Stocks are a mixed bag to end the week, with oil prices and Middle East tensions in focus once more. The Dow Jones Industrial Average (DJI) is down 520 points at last look, thanks to a post-earnings bear gap from American Express (AXP). Despite today's selloff, the blue-chip index is on track to eke out a weekly win.

The Nasdaq Composite (IXIC) has pushed into the black today, as tech stocks bounce back, while the S&P 500 Index (SPX) is in the red but off its session lows. Both indexes are headed for weekly losses. Elsewhere, the University of Michigan's consumer sentiment survey fell to 48 for September, nearing record-low territory, but still above the 46.3 estimate.

Continue reading for more on today's market, including:

• Moderna stock extends pullback from record highs.
• Retail stock stumbles after weaker-than-expected outlook.
• Plus, GE bulls buy the dip; REIT eyes SpaceX; and Bloom cashflow concerns arise. 

GE Aerospace (NYSE:GE) stock is getting attention in the options pits today. At last look, 49,000 contracts have changed hands, volume that's triple the average intraday amount. The November 325 calls are the most popular, followed closely by the 350 calls in the same standard series. GE stock is down 2.3% to trade at $286.76 after a price-target cut to $376 from $421 at Bernstein. The shares are headed for their worst week since Jan. 23 and a fifth-straight daily loss, though the $280 level looks to be stepping up as support.

Crown Castle Inc (NYSE:CCI) is near the top of the New York Stock Exchange (NYSE) today, up 11.7% to trade at $88.06. Bloomberg reported Elon Musk's SpaceX (SPCX) was in talks with the cell tower operator to lease 80,000 cell towers as part of a multi-billion cell-site agreement. CCI is trading at its highest level since mid June and has cleared its 320-day moving average today, which stymied that June peak.

Bloom Energy Corp (NYSE:BE) is near the bottom of the NYSE, last seen down 9.8% to trade at $196.19. Despite a top-beat and hiked guidance, negative free cash flow is denting investor sentiment. Morgan Stanley hiked its price target to $335 from $310, while BTIG trimmed its target to $250 from $295. Bloom Energy stock is still up 123% year to date, but has shed over 30% in the last two weeks as part of the AI rotation.