Jobs Data Slaps Dow Jones Industrial Average

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May 4, 2016 at 12:08 PM
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The Dow Jones Industrial Average (DJIA) is following global stocks lower, even as oil prices swing higher -- with June-dated crude futures last seen up 2.1% at $44.56 per barrel, despite a rise in domestic crude inventories. Sparking the sour mood was ADP's disappointing report on private-sector payrolls, which is often seen as a precursor to the Labor Department's jobs report. And while upbeat readings on the Institute for Supply Management's (ISM) non-manufacturing index and factory orders has stocks off their session lows, the Dow and its index peers are staring at a second straight day of heavy losses

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

Midday Stats May 4

Among the stocks with unusual put volume at midday is Alibaba Group Holding Ltd (NYSE:BABA). The options are trading at four times the average intraday pace, as the company prepares to report earnings tomorrow morning. The most popular option by far is the June 80 put -- where more than 10,000 contracts have traded -- where it looks as if one trader may be rolling her long May 85 puts down and out to the back-month puts. The stock was last seen 0.5% lower at $75.50. 

Data storage specialist Seagate Technology PLC (NASDAQ:STX) is among the best performers on the New York Stock Exchange (NYSE) today. The stock has gained 2.8% at $19.98, as it tries to fight back from its post-earnings slide. Sparking the upside price action is news CEO Stephan Luczo recently purchased over $4 million worth of shares, according to a recent Securities and Exchange Commission (SEC) filing. Unfortunately, STX is still down over 65% in the past 12 months. 

STX Daily Chart May 4

Among the top losers on the Nasdaq is mobile game maker Glu Mobile Inc. (NASDAQ:GLUU), after the company's lackluster first-quarter revenue was met with a round of bearish analyst attention. The stock was last seen 16.5% lower at $2.23, though it remains above the $2 level that's acted as support since early 2011. 

CBOE Volatility Index (VIX) is up 0.8 point, or 4.9%. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.36, with puts edging out calls. SPY is down 1.4 point, or 0.7%, at $204.76. 

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