Earnings Drill Dow Jones Industrial Average

Macy's Meltdown; Plus, 3 Red-Hot Gold Stocks

May 11, 2016 at 11:56 AM
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The Dow Jones Industrial Average (DJIA) is down triple digits -- pulling back after yesterday's massive gains -- with Walt Disney Co (NYSE:DIS) leading the way south on its first earnings miss in five years. More generally, retail stocks are getting killed on quarterly results and bleak forecasts, pressuring the broader S&P 500 Index (SPX). On the other hand, oil prices have bounced sharply higher after a surprise weekly decline in crude inventories, with June-dated oil futures last seen up 2.8% at $45.92 per barrel.

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

 midday market stats may 11

Among the stocks with unusual put volume today is luxury retailer Michael Kors Holdings Ltd (NYSE:KORS), dragged lower by M and this sector peer's earnings miss. At last look, KORS was down 12% at $43.90, and on the short-sale restricted (SSR) list -- sending intraday put volume to 10 times the usual rate.

Office Depot Inc (NASDAQ:ODP)
is the leading laggard on the Nasdaq, down nearly 39% at $3.74 -- and fresh off a three-year low of $3.61 -- after its proposed merger with Staples, Inc. (NASDAQ:SPLS) fell apart. ODP has landed on the SSR list, as well.

odp daily chart may 11

On the other hand, Canadian Solar Inc. (NASDAQ:CSIQ) is one of the biggest gainers on the Nasdaq, fresh off upbeat earnings. At last check, CSIQ is 15% higher at $17.78.

The CBOE Volatility Index (VIX) is up 0.1 point, or 0.8%, at 13.74.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 0.80, with calls having a rare edge over puts. SPY is currently down 0.8 point, or 0.4%, at $207.63.

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

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