The DJIA and SPX are trekking higher amid a rally in crude oil and overseas stocks
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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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.
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.
The 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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