Dow Jones Industrial Average Retreats On Overseas Worries

The Big M&A News of the Day; Plus, Michael Kors Can't Catch a Break

May 28, 2015 at 11:56 AM
facebook twitter linkedin

The Dow Jones Industrial Average (DJIA) has taken a turn for the worse today, as traders cast a cautious eye on a pair of worrying overseas developments. Additionally, speculators are digesting a speech from San Francisco Fed President John Williams -- which preceded a round of mixed economic reports -- who reiterated Fed Chair Janet Yellen's outlook for a 2015 interest-rate hike. Elsewhere, the S&P 500 Index (SPX) is also lower, while the Nasdaq Composite (COMP) is retreating from Wednesday's notable milestone.


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



Midday Market Stats


Among the stocks with notable option volume is burrito chain Chipotle Mexican Grill, Inc. (NYSE:CMG), with the contracts crossing the tape at three times the average intraday pace. Put players are targeting CMG's June 600 strike -- the equity's most active option -- while the weekly 5/29 series is popular among call players. At last check, CMG is up 3% at $630.88, following an upbeat analyst note.


One of the biggest decliners on the Nasdaq is Xcerra Corp (NASDAQ:XCRA), down 16.1% at $7.81 -- and back in the red on a year-to-date basis. Weighing on the semiconductor equipment specialist is weaker-than-expected fiscal third-quarter revenue.

One of the top losers on the Big Board is athletic apparel retailer Tilly's Inc (NYSE:TLYS). The stock is down 23% at $10.01, following a poorly received earnings report and subsequent round of bearish brokerage attention. What's more, the security is on track to close south of its 160-, 200-, and 320-day moving averages for the first time since early December.


Daily Chart of TLYS Since November 2014


The CBOE Volatility Index (VIX) is up 0.2 point, or 1.7%, at 13.49, after earlier being rejected by the 14 mark.


Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.95, with puts nearly tripling calls. At last check, SPY is down 0.6 point, or 0.3%, at $212.12.



Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 


300x250 - Banner 3 - v1