Dow Jones Industrial Average Clings to Lead; S&P Eyes 2,100

3 Reasons Silver is Shining; Plus, Netflix Tanks

Apr 19, 2016 at 12:02 PM
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The Dow Jones Industrial Average (DJIA) is sitting higher and on track for its loftiest close since July, thanks to an overseas rally and a bounce in oil prices. Specifically, May-dated crude futures were last seen 3.9% higher at $41.34 per barrel. Also acting as a positive catalyst for the Dow are a pair of well-received earnings reports, which are helping to offset International Business Machines Corp.'s (NYSE:IBM) earnings flop. Looking beyond blue chips, large-cap stocks are performing well, as the broader S&P 500 Index (SPX) earlier topped the round 2,100 level for the first time since Dec. 2.

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Midday Market Stats April 19

Among the stocks with unusual option volume is Citrix Systems, Inc. (NASDAQ:CTXS), as the contracts are running at 20 times the intraday norm ahead of tomorrow night's earnings report. Accounting for nearly all of the activity is a long strangle being initiated at the May 75 put and 85 call, totaling 4,500 contracts. At last check, CTXS is 1.5% lower at $80.16.

One of the biggest gainers on the Nasdaq is biotech Heron Therapeutics Inc (NASDAQ:HRTX), up 4.3% at $22.41. Boosting the stock is a bullish note from U.S. regulators.

HRTX daily chart

Illumina, Inc. (NASDAQ:ILMN) is one of the leading losers on the Nasdaq, surrendering roughly one-quarter of its value to trade at $133.92. The genetic specialist's lackluster first-quarter revenue is one of the stock's negative catalysts, together with a round of downbeat brokerage notes.

CBOE Volatility Index (VIX) is up 0.3 point, or 2%, at 13.61.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.43, with puts outweighing calls. SPY was last seen up 0.1 point at $209.31. 

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