Dow Jones Industrial Average Down as Crude Retreats

2 Stocks Popping on Apple Buyout Rumors

by Karee Venema

Published on May 26, 2016 at 12:07 PM
Updated on May 26, 2016 at 12:10 PM

Profit-taking and technical levels appear to be in play on Wall Street today, with the Dow Jones Industrial Average (DJIA) lower at midday, following a swift rejection near its overhead 17,900 level -- an area that stifled the Dow in mid-May. July-dated crude futures, meanwhile, have swung 0.4% lower to $49.34 per barrel, after oil prices toppled the key $50 mark earlier. Elsewhere, a sell-off in energy stocks has the S&P 500 Index (SPX) shying away from the highly watched 2,100 mark. Stocks are also reacting to mixed durable goods data, which appears to be overshadowing a 10-year high in pending home sales last month.

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

Midday Market Stats May 26

Among the stocks with unusual call volume is HP Inc (NYSE:HPQ), with the contracts crossing at seven times the average intraday rate. The tech stock has surged 5.8% to $12.91, after a fiscal second-quarter profit beat was met with bullish brokerage attention. Options traders are betting on more upside, too, with buy-to-open activity detected at HPQ's weekly 5/27 13-strike call.

Abercrombie & Fitch Co. (NYSE:ANF) is one of the biggest losers on the New York Stock Exchange (NYSE:ANF), down 17.2% at $20.76. Sparking the sell-off is the retailer's dismal quarterly earnings report, and now ANF stock is well below its 320-day moving average -- a trendline that served as support in late 2015-early 2016.

ANF daily chart

Tilly's Inc (NYSE:TLYS), meanwhile, is one of the leading advancers on the Big Board -- bucking the post-earnings retail trend. Specifically, shares of TLYS are up 12.3% at $6.40, after the firm posted better-than-expected first-quarter revenue.

The CBOE Volatility Index (VIX) is down 0.1 point, or 0.5%, at 13.83.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.25, with puts more than doubling calls. SPY is fractionally higher at $209.32.

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