Dow Jones Industrial Average Hits Its Stride; Nasdaq Dips

Nike Lifts Dow; The Chipmaker Weighing On the Nasdaq

Jun 26, 2015 at 12:00 PM
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The Dow Jones Industrial Average (DJIA) is having a solid outing, up more than 100 points at its intraday peak, led by Nike Inc's (NYSE:NKE) 4.5% post-earnings ascent. With no news expected out of Greece until tomorrow's meeting with eurozone leaders, traders are digesting the latest SCOTUS ruling on same-sex marriage -- just a day after a big-time decision on Obamacare -- and a five-month high in consumer sentiment. Elsewhere, the Nasdaq Composite (COMP) and S&P 500 Index (SPX) ​are struggling to keep up, with the former in the red. 


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Among the stocks with notable call volume is Deere & Company (NYSE:DE), as the shares hit a four-year high of $96.70 earlier, and were last seen 2.9% higher at $96.06. Calls are crossing at 21 times the expected intraday pace, with the July 100 call most popular. With apparent buy-to-open action here, traders are betting on the stock to topple the century mark for the first time before the options expire at the close on Friday, July 17. 


One of the top gainers on the New York Stock Exchange is NKE, up 4.3% at $109.75 -- after earlier hitting an all-time high of $110.34 -- thanks to yet another strong showing in the earnings confessional last night. The shares of the athletic apparel stock are up nearly 14% year-to-date. 


Just a day after hitting a record high north of $18, Rockwell Medical Inc (NASDAQ:RMTI) is one of the biggest losers on the Nasdaq, giving back 6% to hit $15.40. It could be that the shares of the biotech name were ready for a pullback, as their 14-day Relative Strength Index (RSI) is docked at 78 -- well into overbought territory. RMTI remains 49% above breakeven in 2015. 




The CBOE Volatility Index (VIX) is 0.2 point, or 1.1%, at 14.16. 


Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.04, with puts doubling calls. The SPY is 0.1 point, or 0.2%, higher at $210.05. 


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