The Dow Jones Industrial Average (DJI) was last seen down a whopping 620 points, pacing for its biggest single-day percentage drop since March 2023. Smaller-than-expected gross domestic product (GDP) growth for the first quarter is weighing on Wall Street, with the Nasdaq Composite (IXIC) also down triple digits while the S&P 500 Index (SPX) carries a hefty midday deficit of its own.Plus, consumer prices saw a first-quarter rise of 3.4%, much higher than the 1.8% jump analysts anticipated, underscoring the persistently high inflationary environment. These data points once more bring the Federal Reserve’s interest rate stance into focus, with traders now predicting just one cut for the year.
PepsiCo Inc (Nasdaq: PEP) stock is up 0.6% to trade at $178.52 after the beverage name received a price-target hike from Barclays hike to $185 from $184. So far today, 32,000 calls and 14,000 puts have crossed the tape, which is eight times the intraday average volume. New positions are being bought to open at the most popular contract, the weekly 4/26 182.50-strike call that expires tomorrow. PEP has added 4.7% in 2024.Newmont Corporation (NYSE: NEM) stock is among the New York Stock Exchange’s (NYSE) leaders today, up 8.1% at $41.74 at last glance. The gold company easily beat top- and bottom-line expectations for the first quarter thanks to strong production and sales. The stock hit its highest level since December earlier, bouncing off the 100-day moving average as demand for safe-haven assets increases amid inflation pressure. 
Meanwhile, ATN International Inc (Nasdaq: ATNI) stock is near the bottom of the NYSE, last seen down 29.6% to trade at $20.22. This bear gap comes after the telecom company reported much wider-than-anticipated first-quarter losses and revenue after yesterday’s close. The shares are trading at 15-year lows and on track for their biggest single-day percentage loss since March 2020. In the last 12 months, ATNI shed more than 47%.More By This Author:Dow Adds 263 Points To Mark 4th-Straight Win
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