Oil Opens Bullish Floodgates for Dow Jones Industrial Average

The Tech Stock at Record Highs

May 25, 2016 at 12:05 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) is up triple digits at midday -- and hovering near its intraday highs -- as crude futures soar to levels not seen in seven months. At last check, July-dated oil prices were up 0.5% at $48.87 per barrel, after the Energy Information Administration (EIA) said domestic crude supplies dropped 4.2 million barrels last week. Stocks are also reacting to another big rally in bank shares -- with financial firm Goldman Sachs Group Inc (NYSE:GS) outperforming its fellow Dow components -- as rate-hike chatter swirls ahead of Friday's highly anticipated speech from Fed Chair Janet Yellen.

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

Midday Market Stats May 25

Among the stocks with unusual options volume is Hewlett Packard Enterprise Co (NYSE:HPE), with the contracts crossing at seven times the average intraday pace. The tech stock is up 9.5% at $17.79, after its new venture was met with applause from analysts. Options traders, meanwhile, appear to be selling to close their now in-the-money June 17 calls, according to data from the International Securities Exchange (ISE).

Energy stock Bonanza Creek Energy Inc (NYSE:BCEI) is one of the biggest gainers on the New York Stock Exchange (NYSE). The stock tumbled out of the gate after receiving a pair of negative analyst notes, but has swung 26.4% higher to $2.60, as oil prices surge.

BCEI 10Minute Chart

Express, Inc. (NYSE:EXPR) is one of the biggest decliners on the NYSE, down 11.2% at $14.23 -- and fresh off an annual low of $13.25 -- and on track for its biggest intraday percentage decline since December 2013. To the assumed delight of short sellers, the retailer reported a first-quarter earnings miss and offered up uninspiring guidance.

The CBOE Volatility Index (VIX) is down 0.6 point, or 3.9%, at 13.86.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 0.93, with calls having the rare edge over puts. SPY is up 1.5 points, or 0.7%, at $209.35.

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 C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI