Dow Jones Industrial Average Rips Higher on Energy Surge

Is Apple About to Breakout?

Apr 12, 2016 at 11:59 AM
facebook twitter linkedin


The Dow Jones Industrial Average (DJIA) has tacked on over 100 points, as a surge in oil prices stokes the stock market's risk-on appetite -- with energy stocks leading the charge higher -- and dulls an uninspiring start to earnings season. Specifically, May-dated crude futures have advanced 3.6% at $41.81 per barrel, after Bloomberg reported that Saudi Arabia and Russia have agreed to a production freeze, regardless of whether or not Iran participates. On the data front, import prices hit a notable milestone last month, while export prices were flat, as forecast.

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

 

Midday market stats April 12

Among the names with unusual call volume is video game guru Activision Blizzard, Inc. (NASDAQ:ATVI), with the contracts running at more than double the expected intraday rate. Digging deeper, it seems safe to assume traders are buying to open the weekly 4/22 34-strike call. Technically speaking, ATVI is off 0.5% at $33.23, despite the company's record-setting eSports championship event.

One of the top losers on the Nasdaq is Horizon Pharma PLC (NASDAQ:HZNP), after the biotech firm confirmed a disappointing full-year outlook. At last check, HZNP has plunged 22.6% at $14.10.

HZNP daily chart

For the second straight day, Chesapeake Energy Corporation (NYSE:CHK) is among the top gainers on the Big Board. This time around, the energy stock is pacing the field, up over 26% at $5.67, boosted by crude oil.

The 
CBOE Volatility Index (VIX) was last seen 0.8 point, or 5.2%, lower at 15.42.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.02, with puts doubling calls. At last check, SPY is up 1.2 points, or 0.6%, at $205.24.

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

Bernie's Best Stock Bets for Summer 2021

1608308875

 




 
Special Offers from Schaeffer's Trading Partners