Dow Jones Industrial Average Dips as Nasdaq Surges on Earnings

The Tantalizing Tesla Mystery

Jul 17, 2015 at 12:05 PM
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At last check, the Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) were each sitting below breakeven. The Nasdaq Composite (COMP), on the other hand, is thriving, touching record highs after Google Inc (NASDAQ:GOOGL) blasted Wall Street's expectations with its second-quarter numbers. As for economic data, the consumer price index (CPI) -- in focus after Fed Chair Janet Yellen's rate-hike projections -- rose in line with expectations, housing starts impressed, and consumer sentiment edged lower in July. 

 

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Among the stocks with notable call activity today is Facebook Inc (NASDAQ:FB), with the contracts being exchanged at six times the expected intraday rate -- though not all of this activity may be bullish. The social media behemoth's most popular contract today is the weekly 7/31 100-strike call, and it looks like some traders are selling it to open. In other words, these bettors are speculating FB won't top $100 by the end of the month, when the contracts cease trading. This activity comes at an interesting time -- the shares have been surging recently, adding 7.8% this week to hit a record peak of $94.82 today

 

Car rental name Hertz Global Holdings Inc (NYSE:HTZ) is sitting near the top of the Big Board today, gaining 12.7% to trade at $19.15, after the company restated past financial statements and committed to its $1 billion share buyback plan

 

Mattel, Inc. (NASDAQ:MAT) is 4.5% lower today at $24.01 -- and near the bottom of the Nasdaq -- following the company's latest round in the earnings booth last night. Shares of the toy-making giant initially surged following the event, yet they now sit 22% below breakeven in 2015.

 

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The CBOE Volatility Index (VIX) has edged 0.3% lower to 12.07. 

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.68, as put volume trounces call volume. The SPY was sitting 0.2 point, or 0.1%, lower at $212.05, at last check. 

 

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