The DJIA is lower at midday, while oil prices are retreating after topping the $50 mark
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.
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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.
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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