Dow Jones Industrial Average Advances Triple Digits

Dow Up Triple Digits; Plus, 3 Sizzling Social Media Stocks

Jun 3, 2015 at 11:52 AM
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The Dow Jones Industrial Average (DJIA) is up triple digits at midday, as traders eye an easing greenback and higher bond yields, and digest interest-rate news from Europe and the latest round of economic reports. Specifically, ADP's May employment report came in just above expectations and the U.S. trade deficit dropped by its largest percentage in six years, while the Institute for Supply Management's (ISM) non-manufacturing index fell to a near-annual low. Traders are also looking forward to the release of the Fed's Beige Book this afternoon, and a meeting between Greek Prime Minister Alexis Tsipras and other eurozone leaders to discuss a debt deal.


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Among the stocks with elevated call volume is Groupon Inc (NASDAQ:GRPN), with the contracts running at twice the expected intraday rate amid a management shake-up. The shares are up 0.3% at $6.05, and option bulls are targeting more upside, buying to open the weekly 6/5 6-strike call.


One of the biggest advancers on the Nasdaq is Sychronoss Technologies, Inc. (NASDAQ:SNCR), which has surged 17.6% to trade at $50.03. The shares are running higher on news the company may be looking for a buyer. SNCR is now on pace to finish above the half-century mark for the first time since April 24.



On the flip side, one of the Nasdaq's worst performers is Vera Bradley, Inc. (NASDAQ:VRA), which is reeling on underwhelming earnings and guidance. At last check, VRA was off 10.1% at $12.71 and on the short-sale restricted list. Earlier, the stock also touched a record low of $12.32.


The CBOE Volatility Index (VIX) is off 0.6 point, or 4.1%, at 13.65.


Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.16, with puts more than doubling calls. At last check, SPY was up 1.2 points, or 0.6%, at $212.50.


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