Dow Jones Industrial Average Pops as Oil Rally Lifts Stocks

2 Stocks Moving Ahead of Monster FDA Decisions

Apr 6, 2016 at 12:19 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) is eyeing its first win of the week, as U.S. stocks track rising oil prices. Specifically, May-dated crude futures have extended their lead to 4.7% to sit at $37.54 per barrel, thanks to an unexpected decrease in domestic inventories last week. In addition, Pfizer Inc. (NYSE:PFE) is bolstering the Dow, up 3.6% after abandoning its bid for Allergan plc Ordinary Shares (NYSE:AGN). The S&P 500 Index (SPX) and Nasdaq Composite (COMP) have also followed the Dow higher, though traders still have the Federal Open Market Committee's (FOMC) meeting minutes to consider this afternoon. 

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

 

160406MMC1

Among the stocks with unusual call volume is tech stock Rackspace Hosting, Inc. (NYSE:RAX), which is 5.8% higher today at $23.46. The contracts are crossing at a remarkable 34 times the average midday pace, with the May 25 call leading the way. Data confirms buy-to-open activity here, meaning traders are betting on RAX toppling $25 before the options expire at the close on Friday, May 20. The stock has been surging recently in light of M&A buzz

Social networking stock Momo Inc (ADR) (NASDAQ:MOMO) is one of the top performers on the Nasdaq today, thanks to info from a new Securities and Exchange (SEC) filing. The stock has now added 31.2% to rest at $15.80, but today's rally appears to be stalling just shy of MOMO's year-to-date breakeven mark near $16. 


160406MOMO


One of the Nasdaq's worst performers today is lighting specialist Cree, Inc. (NASDAQ:CREE). The stock was last seen 14.8% lower at $24.74, as a disappointing preliminary quarterly outlook weighs on the shares. CREE is now down 29.4% in the past 12 months. 

The 
CBOE Volatility Index (VIX) is down 0.8 point, or 5%. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.57, as puts outnumber calls. The SPY is up 1.3 points, or 0.6%, at $205.50.

Find out where the Dow lands right after the closing bell. Sign up now for Schaeffer's Market Recap
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI