Dollar Strength Smacks Dow Jones Industrial Average

Dow Falls Triple Digits; Plus, Analyst Sees Record High for Apple

May 26, 2015 at 11:48 AM
facebook X logo linkedin

The Dow Jones Industrial Average (DJIA) has taken a turn for the worse today, as traders react to the surging U.S. dollar -- which earlier rose to a nearly eight-year high versus the yen. Stocks aren't the only ones feeling the heat from the strengthening greenback. At last check, crude oil was off roughly 2%, and at risk of snapping its impressive string of weekly winning streaks. Meanwhile, on the economic front, a round of well-received data has reignited speculation of a sooner-than-later Fed rate hike. Elsewhere, Time Warner Cable Inc (NYSE:TWC) and Charter Communications, Inc. (NASDAQ:CHTR) are dominating the conversation in equity markets following yesterday's big news.


Continue reading for more on today's market -- and don't miss:



Midday Market Stats


Among the stocks with notable put volume is Michael Kors Holdings Ltd (NYSE:KORS), with the contracts crossing at five times the average intraday pace ahead of tomorrow morning's quarterly earnings announcement. At last check, the stock was off 1.6% at $60.68 -- and earlier hit an annual low of $59.80 -- thanks to a trio of price-target cuts. Meanwhile, buy-to-open activity has been detected at the equity's August 60 put.


One of the top losers on the Big Board is China-based Internet issue Youku Tudou Inc (ADR) (NYSE:YOKU). The stock rallied to a 52-week peak on Friday -- sending its 14-day Relative Strength Index (RSI) to 87, well into overbought territory. Today, the shares are off 9.4% at $27.85.


Gordmans Stores, Inc. (NASDAQ:GMAN) is one of the biggest decliners on the Nasdaq, down 11.1% at $5.75 -- and on track to close south of its 80-day moving average for the first time since Jan. 9. Year-to-date, though, the discount department store has more than doubled in value.


Daily Chart of GMAN Since January 2015 With 80-Day Moving Average


The CBOE Volatility Index (VIX) is up 1.9 points, or 15.3%, at 13.99. Earlier, the market's "fear gauge" crossed the 14 mark for the first time since May 13.


Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.56, with puts outpacing calls. At last check, SPY is down 2.2 points, or 1%, at $210.77.



Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI