The DJIA is attempting a second straight daily comeback, as oil prices erase earlier losses
The
Dow Jones Industrial Average (DJIA) is mirroring Wednesday's price action, as stocks
stage a midday comeback once again.
Oil prices were hit hard early on reports the Organization of the Petroleum Exporting Countries (OPEC) left its output policy unchanged. However, a bigger-than-expected drop in domestic crude inventories has July-dated crude futures up 0.3% at $49.16 per barrel and the Dow just a chip-shot away from positive territory. Meanwhile, traders continue to digest
today's jobs data, with the all-important nonfarm payrolls report on the immediate horizon.
Continue reading for more on today's market -- and don't miss:
Among the stocks with unusual options volume is
Oracle Corporation (NYSE:ORCL), with the contracts trading at 12 times the intraday average. The weekly 6/10 39-strike call is the most active amid what looks like mostly buy-to-open activity, while it appears another trader initiated a
strangle with the weekly 7/8 35-strike put and 7/8 41-strike call. ORCL was 4.9% lower at $38.29 at last check, on news that a former employee is
suing the tech company.
Qorvo Inc (NASDAQ:QRVO) is one of the best-performing stocks on the Nasdaq, as the semiconductor stock gets a lift from sector-wide tailwinds. QRVO is up 2.2% at $53.29, but that's nothing new. The shares have stormed higher in recent weeks,
slicing through their 200-day moving average, and are now trading at six-month highs.
On the other end of the Nasdaq is
Ocean Power Technologies Inc (NASDAQ:OPTT), which is moving sharply lower following
yesterday's unbelievable surge. Shares of the renewable energy stock are down 26.2% at $4.46 -- though this still leaves them with a 112% year-to-date advance.
The
CBOE Volatility Index (VIX) is up 0.03 point, or 0.2%, at 14.23.
Today's put/call volume ratio on the
SPDR S&P 500 ETF Trust (SPY) is 1.50, as
puts outnumber calls. The SPY is down 0.2 point, or 0.1%, at $210.03.
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