The DJIA's six-week win streak looks to be over
On pace for another triple-digit drop, the Dow Jones Industrial Average's (DJIA) six-week win streak is on the verge of ending. The same goes for the Nasdaq Composite (COMP) and the S&P 500 Index (SPX), as underwhelming inflation and retail sales numbers, ongoing rate-hike speculation, and a handful of ugly earnings reports are suffocating stocks -- especially in the consumer discretionary sector. Not helping matters, crude is down another 2.7%, as its hovers right above the $40 level.
Continue reading for more on today's market -- and don't miss:
- This pharma name is booming after a hostile bid turned sour.
- Will the Fed miss its rate-hike 'window'? Schaeffer's contributor Adam Warner cuts through the noise.
- Plus ... Checking in on CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and other noteworthy stats at midday.
Among the stocks with notable call activity is online review site Yelp Inc (NYSE:YELP). The stock is 3.7% higher at $26.86, after receiving some bullish analyst attention. Apparently, option traders also foresee more upside ahead, with calls crossing at twice the average intraday pace.
One of today's big winners on the Nasdaq is Horizon Pharma PLC (NASDAQ:HZNP), as it attempts to recover from Wednesday's sell-off. The stock has picked up 7.4% to sit at $18.92, and could be getting a boost on news that a patent for the company's delayed release tablets was approved.
Conversely, one of the biggest losers on the Nasdaq is camera maker GoPro Inc (NASDAQ:GPRO). The shares have been getting rocked recently, and today have shed another 8.2% to sit $21.26, earlier touching an all-time low of $20.76. The equity's recent batch of option bears is likely pleased.
The CBOE Volatility Index (VIX) is up 1.1 points, or 6.2%.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.78, with puts outpacing calls. The SPY was last seen 1.4 points, or 0.7%, lower at $203.48.
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