Dow Jones Industrial Average Jumps on Hot Oil, Cooling Yen

SolarCity Burns to the Ground

May 10, 2016 at 12:02 PM
facebook X logo linkedin

The Dow Jones Industrial Average (DJIA) is up triple digits, buoyed by a weaker yen and a rebound in oil prices -- while industrial and energy stocks are leading the S&P 500 Index (SPX) higher. At last check, June-dated crude futures have advanced 2.4% at $44.46 per barrel, as supply outages in Canada and Nigeria help ease worries over building global stockpiles. On the economic front, the Job Openings and Labor Turnover Survey (JOLTS) revealed job openings rose to 5.8 million in March -- the second-highest level on record -- while the hiring rate edged down to 3.7%.

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

 midday market stats may 10

Among the stocks with unusual put volume today is LendingClub Corp (NYSE:LC), as the financial stock continues to implode following yesterday's scandal-induced executive exit. At last check, the shares are down 6.9% at $4.30 -- and earlier hit a record low of $3.98 -- pressured by a round of negative analyst notes. Meanwhile, LC puts are trading at 13 times the usual intraday clip, and Trade-Alert suggests buy-to-open activity is taking place at the June 3 strike.

Fertility expert OvaScience Inc (NASDAQ:OVAS) is among the leading gainers on the Nasdaq, on the heels of upbeat analyst attention. At last check, the stock was up 10.3% at $7.80.

ovas daily chart may 10

Among the largest losers on the Big Board is Gap Inc (NYSE:GPS), down 12.6% at $19.06 -- and fresh off a four-year low of $18.98. The retail stock is smarting after Gap's latest same-store sales disappointment, and a subsequent round of bearish brokerage notes.

The CBOE Volatility Index (VIX) is down 0.7 point, or 4.8%, at 13.87.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.57, with puts more than doubling calls. At last check, SPY has added 1.8 points, or 0.9% at $207.73.

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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI