Oil, Pre-Fed Jitters Keep Dow Jones Industrial Average In Check

Is It Time to Buy Tesla?

Mar 14, 2016 at 12:07 PM
facebook twitter linkedin


The Dow Jones Industrial Average (DJIA) is struggling to build on last Friday's breakout, last seen slightly lower as oil prices sink. At last check, April-dated crude futures were down 4.2% at $36.88 per barrel, after Iran said it could be a while before it freezes oil output. Stocks are also having a tough time finding traction as rate-hike jitters mount ahead of the Federal Open Market Committee's (FOMC) two-day policy meeting, which commences tomorrow.

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

160314mmc

Among today's stocks with unusual options volume is Marriott International Inc (NASDAQ:MAR), with the contracts crossing at five times the expected intraday rate. The hospitality stock is currently up 2.9% at $70.88 as M&A buzz swirls around MAR's takeover target. Drilling deeper, it appears one option bull is rolling her position at the March 67.50 call up and out to the April 70 strike.

One of the top performers on the New York Stock Exchange (NYSE) is Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT), following an unsolicited buyout offer. At last check, the hotel stock is up 6.7% at $75.14.

160314hot

One of the Nasdaq's leading laggards today is Clean Energy Fuels Corp (NASDAQ:CLNE), down 6.8% at $3.02. Weighing on shares of the natural gas firm is a bearish brokerage note from Jefferies.

The CBOE Volatility Index (VIX) is up nearly 0.7 point, or 4%, at 17.16.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.11, with puts more than doubling calls. At last check, SPY is off 0.3% at $202.08.

A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earnings guide for Q3 before it's too late!


  
 
Special Offers from Schaeffer's Trading Partners