Dow Jones Industrial Average Set for Lowest Close of 2015

Dow Eyes Lowest Close of 2015; Disney Tanks

by Alex Eppstein

Published on Aug 20, 2015 at 12:03 PM

The Dow Jones Industrial Average (DJIA) is staring at the prospect of a second straight triple-digit loss -- not to mention its lowest close of the year -- as crude oil pans fresh six-year lows, China's rout accelerates, and Fed speculation continues. Leading the bellwether south is blue chip Walt Disney Co (NYSE:DIS), down nearly 5% on bearish brokerage attention. Elsewhere, the Nasdaq Composite (COMP) has dropped firmly below the 5,000 millennium mark, which hasn't been breached on a daily closing basis since July 10.

Meanwhile, it's been a busy day on the economic front, with existing home sales hitting an eight-year high and Philadelphia manufacturing activity topping expectations. However, weekly jobless claims came in above projections, and the Conference Board's index of leading economic indicators surprisingly dipped.

 

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

 

 

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Among the stocks with notable option volume is NetApp Inc. (NASDAQ:NTAP), with the contracts running at six times the normal intraday pace. The data storage issue is up 4.6% at $31.18, thanks to the company's strong showing in the earnings confessional and a subsequent series of price-target hikes. NTAP's most active option is the weekly 8/28 30-strike put, which appears to be seeing sell-to-open activity.

 

One of the notable losers on the Nasdaq is Micron Technology, Inc. (NASDAQ:MU), down 5.2% at $15.08 -- and fresh off an annual low of $14.88. Weighing on shares of the chipmaker is yet another round of bearish brokerage attention.

 

One of the top gainers on the Big Board is Lumber Liquidators Holdings Inc (NYSE:LL), thanks to a bullish nod from Cantor Fitzgerald. At last check, shares of the flooring firm have soared over 11% to trade at $15.78, and test their 20-day moving average.

 

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The CBOE Volatility Index (VIX) is up 1.9 points, or 12.7%, at 17.18.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.13, with puts more than doubling calls -- and running at twice the normal intraday pace. SPY was last seen down 2.5 points, or 1.2%, at $205.84.

 


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