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Hot Stock News for Options Traders

Stocks Retreat, But Dow Jones Industrial Average Holds 17K

Crude oil fell for a seventh straight session

by 7/7/2014 4:21:06 PM
Stocks quoted in this article:

U.S. stocks pulled back from record highs today, as buyers headed for the sidelines before the calendar heats up. Wall Street is holding its collective breath ahead of Alcoa Inc's (NYSE:AA) unofficial start to second-quarter earnings season tomorrow night, as well as the Federal Open Market Committee (FOMC) meeting minutes, slated for release on Wednesday. Against this backdrop, the Dow Jones Industrial Average (DJI) finished in the red, but maintained its footing atop the round-number 17,000 level.

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

Trading Topic of the Week -- Ways to Interpret Short Interest: Consider the short-to-float ratio. By checking out a stock's short-to-float ratio, you can quickly gauge how many traders are betting on the shares to drop.

The Dow Jones Industrial Average (DJI - 17,024.21) made a brief foray south of the 17,000 level in intraday trading, but found its way back atop the millennial marker by the close. The blue-chip barometer settled with a loss of 44.1 points, or 0.3%, as 19 of its 30 components ended lower. UnitedHealth Group Inc. (NYSE:UNH) led the declining majority, down 1.4%, while Johnson & Johnson (NYSE:JNJ) paced the 11 advancers with a 1% gain.

The S&P 500 Index (SPX - 1,977.65) also retreated from record highs, giving up 7.8 points, or 0.4%. The Nasdaq Composite (COMP - 4,451.53) suffered the worst daily drop, surrendering 34.4 points, or 0.8%.

On the flip side, the CBOE Volatility Index (VIX - 11.33) bounced back from multi-year lows, advancing 1 point, or 9.8%.



5 Items on Our Radar Today:

  1. IMF Managing Director Christine Lagarde hinted at possible cuts to the group's global growth estimates. In the U.S., the risks to growth include the Federal Reserve's ability to scale back bond buying in an "orderly" fashion, she told economists in France on Sunday. (Bloomberg)
  2. Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) fared well in China in the first half of the year. The former saw sales in the country soar 35% through June, while the latter's sales rose 10.5%. (USA Today)
  3. Expedia Inc (NASDAQ:EXPE) and ADM headlined Merger Monday.
  4. A trio of industry awards sent BBRY shares soaring.
  5. Yum! Brands, Inc. (NASDAQ:YUM) was named a "Top Pick" at RBC.

For a look at today's options movers and commodities activity, head to page 2.

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