Bond Rush, Oil Pressure Dow Jones Industrial Average

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Jun 10, 2016 at 12:05 PM
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After tumbling nearly 150 points earlier, the Dow Jones Industrial Average (DJIA) has trimmed its losses -- but remains solidly lower. Amid central bank and "Brexit" fears, a massive rush to global bonds sparked the initial stock sell-off -- and sent yields in Japan and Germany to record lows -- while a pullback in oil prices hasn't helped matters. At last check, July-dated crude futures were down 1.8% at $49.67 per barrel. Financial stocks have been particularly hard hit, with Goldman Sachs Group Inc (NYSE:GS) and JPMorgan Chase & Co. (NYSE:JPM) leading the Dow lower -- each sliding 1.4%.

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midday market stats june 10

Among the stocks with accelerated call volume is Barrick Gold Corporation (USA) (NYSE:ABX), as the shares have advanced 1.1% to $19.80. Specifically, call options are trading at more than double the usual intraday level, with speculators buying to open contracts at the October 26 strike. Earlier, ABX stock hit a two-year high of $20.44.

One of the leading losers on the Nasdaq is bedding retailer Mattress Firm Holding Corp (NASDAQ:MFRM), down nearly 15% at $28.58. Earlier, in fact, the stock touched a three-year low of $27.18, as disappointing earnings and guidance sparked a rush of negative analyst attention.

mfrm daily chart june 10

The top stock on the Big Board is Emerge Energy Services LP (NYSE:EMES), rocketing 21.4% higher to trade at $11.71. While the specific catalyst is unclear, Bloomberg speculates the rally may be due to a delayed reaction to a recent Goldman Sachs note, which suggested the company could sell its fuels business for up to $50 million.

The CBOE Volatility Index (VIX) is up 1.4 points, or 9.7%, at 16.06.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.84, with puts nearly doubling calls. Currently, SPY is off 1.4 points, or 0.6%, at $210.71.

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