DuPont Leads Dow Jones Industrial Average Higher; S&P Win Streak at Risk

The Bullish Implications of the S&P's Hot Streak

Oct 6, 2015 at 11:46 AM
facebook twitter linkedin

The Dow Jones Industrial Average (DJIA) is on track for a third straight daily win -- while the broader S&P 500 Index (SPX) is struggling to reach its sixth -- as traders gear up for the start of earnings season. Helping the blue-chip benchmark to a modest lead is DuPont's (NYSE:DD) 10% surge, on news that the company's CEO plans to retire later this month. Elsewhere, the August trade deficit widened to its highest level in five months, while crude oil briefly shot above $50 per barrel -- and remains solidly higher. Meanwhile, the International Monetary Fund (IMF) reduced its 2015 global growth forecasts yet again, citing "more pronounced" downside risks.

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



Among the stocks with notable put volume is genetics specialist Illumina, Inc. (NASDAQ:ILMN), as the contracts are flying off the shelves at 36 times the usual intraday rate -- and nine times the pace of calls. Triggering the activity is the equity's guidance-induced 15% drop to $138.72 -- not to mention a new annual low of $130 -- which has the shares on the short-sale restricted list. ILMN's most active strike is the October 125 put, largely thanks to a 12,704-contract block that crossed in early trading.

The biggest advancer on the Nasdaq is chipmaker PMC-Sierra Inc (NASDAQ:PMCS), up 33.4% at $10.26 -- and fresh off a nine-year high of $10.28. The shares are benefiting from the company's newly announced $2 billion buyout.

One of the leading losers on the Big Board is Container Store Group Inc (NYSE:TCS), down 16.5% at $13. The stock is reeling after the retailer announced lower-than-expected second-quarter profit and sales, and was subsequently hit with a price-target cut to $16 from $18 at Sterne Agee CRT.


The CBOE Volatility Index (VIX) is up 0.2 point, or 1.2%, at 19.77.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.66, with puts outstripping calls. At last check, SPY is down 0.7 point, or 0.4%, at $197.76.


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!