Dow Jones Industrial Average Surges, Nasdaq Notches Record High

Nasdaq Tops Tech-Bubble Peak; Plus, Read This Before Trading Credit Spreads

Jun 18, 2015 at 12:04 PM
facebook twitter linkedin

The Dow Jones Industrial Average (DJIA) has surged today -- on pace for a healthy triple-digit win -- following yesterday's dovish policy statement from the Fed, and amid a weakening dollar. What's more, the Nasdaq Composite (COMP) is exploring all-time highs, edging past its tech-bubble peak. On the economic front, the consumer price index (CPI) posted its biggest jump in over two years, weekly jobless claims fell more than expected, and the Philadelphia Fed manufacturing index hit its highest level since December, topping estimates. Still, traders are most anxious to find out the results of a meeting between eurozone finance officials in Luxembourg, as they attempt to stave off a Greek default.


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






Sign up now to get Schaeffer's Market Recap delivered straight to your inbox!


Among the stocks with notable put volume is home decor retailer Pier 1 Imports Inc (NYSE:PIR), with the contracts crossing at 19 times the typical intraday level. Digging deeper, possible buy-to-open activity is detected at the June 12 put, which is PIR's most active option. The stock is fractionally lower at $12, after Cantor Fitzgerald trimmed its price target to $16 from $17 amid the company's mixed turn in the earnings confessional.


One of the top winners on the Nasdaq is BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), thanks to encouraging trial data and a subsequent round of upbeat analyst notes. At last check, shares of the drugmaker have soared 12% to $138.46, and earlier touched a record high of $140.09.



The leading gainer on the Big Board is Wall Street newcomer Fitbit Inc (NYSE:FIT), which has surged nearly 48% in its initial public offering (IPO) to trade at $29.55. Earlier, shares of the fitness device maker topped out at $31.90.


The CBOE Volatility Index (VIX) is down 1.7 points, or 11.4%, at 12.85.


Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.56, with puts outstripping calls. At last check, SPY is up 2.2 points, or 1%, at $212.78.


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