GDP, P&G Whack Dow Jones Industrial Average

3 Soaring Pharma Stocks; Plus, Facebook Joins Social Swoon

Jul 30, 2015 at 11:49 AM
facebook twitter linkedin


The Dow Jones Industrial Average (DJIA) headed lower out of the gate and hasn't looked back, as traders digest lackluster gross domestic product (GDP) figures, as well as the possibility of a September interest-rate hike. Leading the Dow lower is blue chip Procter & Gamble Co (NYSE:PG), which is off 3.5% on lower-than-expected quarterly sales and weak guidance for the upcoming fiscal year. On the economic front, first-time jobless claims rose less than predicted last week.

 

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

 

 

150730mmc

 

 

Among the stocks with notable call volume is Nokia Corporation (ADR) (NYSE:NOK), as the contracts are being exchanged at 17 times the usual intraday rate. At last check, the tech issue was up 5.6% at $6.96, following an earnings beat. Diving deeper on the options front, data from the International Securities Exchange (ISE) shows a massive sweep of October 8 calls was bought to close earlier.

 

One of the worst losers on the Nasdaq is Whole Foods Market, Inc. (NASDAQ:WFM), which has fallen 11% to trade at $36.34, and earlier skimmed a three-year low of $35.82. Weighing on shares of the organic grocer are disappointing quarterly results and a subsequent round of negative analyst attention.

 

One of the top winners on the Big Board is Skechers USA Inc (NYSE:SKX), up 14.3% at $146.78 -- and fresh off an all-time peak of $147.29. Unlike WFM, the shoe retailer reported better-than-expected earnings and received a number of price-target hikes, in response.

 

150730skx

 

The CBOE Volatility Index (VIX) is up 0.01 point, or 0.1%, at 12.51.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.00, with puts doubling calls. The SPY was last seen off 1 point, or 0.5%, at $209.74.

 

 

Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!