The DJIA is following crude oil prices lower, while George Soros and Carl Icahn expressed concerns over the stock market
The
Dow Jones Industrial Average (DJIA) continues to
take its cues from crude, with falling oil prices overshadowing an unexpected decline in weekly jobless claims. Currently, July-dated crude futures have slumped 1.3% to sit at $50.55, after yesterday hitting 2016 highs. Also weighing on stocks is a
Wall Street Journal report indicating billionaire investor George Soros has made a number of "big, bearish investments" recently, dumping stocks in favor of gold. Carl Icahn responded sympathetically, expressing concerns that the stock market has been propped up by low interest rates. At last check, the Dow has given up its perch atop the
closely watched 18,000 level, putting it on track for its first loss in four sessions.
Continue reading for more on today's market -- and don't miss:
Among the stocks with accelerated call volume is energy issue
Gevo, Inc. (NASDAQ:GEVO), as the contracts are changing hands at 14 times the usual intraday rate. After gapping higher yesterday on a
jet fuel breakthrough, the stock has pulled back nearly 22% to trade at $0.75 -- and landed on the short-sale restricted list. In terms of specific options activity, traders may be buying to open GEVO's December 1 call.
One of the top stocks on the New York Stock Exchange is
Pandora Media Inc (NYSE:P), buoyed by a
bullish brokerage note. At last check, shares of the streaming radio firm have gained 3.3% at $12.20, extending their months' long hot streak.
One stock struggling on the Nasdaq is drugmaker
KemPharm Inc (NASDAQ:KMPH), down 3.7% at $6.96. Pressuring the shares is the biotech's newly filed
amendment to its Apadaz New Drug Application (NDA).
The
CBOE Volatility Index (VIX) is up 0.6 point, or 4%, at 14.64.
Today's put/call volume ratio on the
SPDR S&P 500 ETF Trust (SPY) is 1.57, with puts handily outstripping calls. At last check, SPY is off 1.0 point, or 0.5%, at $211.35.
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