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Dow Jones Industrial Average Aims for Fourth Straight Win

VIX Options Explode; Plus, Why GoPro and Amazon Are Soaring

Jul 14, 2015 at 11:58 AM
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After a sluggish start, the Dow Jones Industrial Average (DJIA) has managed to extend its lead around midday, and is on pace for a fourth straight win. Traders are shuffling through the latest earnings numbers from a few financial heavyweights, while considering surprise drops in both June retail sales and import prices, and an in-line rise in May business inventories. Meanwhile, crude remains in focus -- and was last seen hovering around breakeven after an early drop -- following last night's nuclear deal with Iran

 

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

 

 

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Among the stocks with notable call volume is motorcycle giant Harley-Davidson Inc (NYSE:HOG), with the contracts changing hands at 15 times the expected intraday pace. The most popular contract is the July 57.50 call, with all signs pointing to buy-to-open activity. Simply put, traders are betting on extended gains from HOG above $57.50 before the options expire at the close this Friday. The shares were last seen 1.8% higher at $57.57. 

 

One of the top gainers on the Nasdaq is Micron Technology, Inc. (NASDAQ:MU), with the shares gaining 11% to trade at $19.55, on reports China-owned Tsinghua Unigroup could make a $23 billion offer for the company

 

One of the top losers on the Big Board is National Bank of Greece (NYSE:NBG). Shares of the Greek financial institution are keeping their volatile streak alive ahead of tomorrow's key parliament vote, dropping 6.6% today to trade at $1.13. NBG has now trailed the broader S&P 500 Index (SPX) by over 13 percentage points during the past two months, due in part to repeated overhead resistance from its 120-day moving average. 

 

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The CBOE Volatility Index (VIX) is off 5.5% at 13.13. 

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.67, with puts easily doubling calls. The SPY was last seen 0.4% higher at $210.53. 

 

AI has exploded ever since ChatGPT set the world on fire near the end of 2022.

Numerous companies with connections to artificial intelligence have seen their stocks soar.

That includes Nvidia, the poster boy of AI.

Its stock has skyrocketed 716% since ChatGPT’s debut. But here’s the thing …

While everyone’s still counting their money from this first AI boom … Nvidia and countless others have moved on to the next stage.

That includes Big Tech, which is currently making a series of peculiar investments in a few strange companies. This has nothing to do with tech. At least on the surface …

Yet, these strange investments could be the early ripples of a massive wave …Without them, ChatGPT could stop operating … Amazon, Google, Microsoft and more could see profits drop drastically.

In fact, Elon Musk says these investments are critical when it comes to solving the number one problem facing AI.

Now, Silicon Valley legend Michael Robinson has identified two companies that could play a significant role in the solution.

Their stocks just may be the key to AI 2.0.

Find out more about these two companies today.
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