Dow Jones Industrial Average on Pace to Lose Six in a Row

The Gold Stock Hitting New Highs

Jun 16, 2016 at 12:10 PM
facebook X logo linkedin

The Dow Jones Industrial Average (DJIA) is on track to extend its losing streak to six days, after central banks around the world stoked concerns about next week's "Brexit" vote. As stocks sink -- and fear grows -- risk-averse traders are seeking safety in assets such as gold and bonds. In fact, the U.S. 10-year Treasury yield fell to its lowest level in almost four years, while August-dated gold is up 1.9% at $1,312.80 an ounce, after earlier notching a nearly two-year high. Meanwhile, oil prices continue to slide, with crude oil for July delivery down 3.4% at $46.37 per barrel, staring at a one-month low.

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

Midday Market Stats June 16

FireEye Inc (NASDAQ:FEYE) is among the stocks with unusual options volume at midday. The stock added 0.3% to $16.11, on reports the cybersecurity company rejected multiple buyout offers this year. FEYE options are trading at roughly 1.2 times their usual intraday rate, with calls outnumbering puts nearly 5-to-1. It looks like bullish speculators may be buying to open the stock's June 15.50 and July 17 calls, expecting FEYE to keep its upward momentum going.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is among the top performers on the Nasdaq today, up 2.9% to $4.46 after Canaccord Genuity said it is "impressed with the new management team." The firm raised its rating and price target on the semiconductor stock, which has added nearly 81% over the last 12 months.

AMD Daily Chart June 16

Among the worst performers on the Nasdaq, meanwhile, is AMD sector peer Cavium Inc (NASDAQ:CAVM), down 16.9% at $39.92, and just off a fresh annual low of $39.58. Weighing on the stock is round of bearish brokerage notes this morning, which were issued on news of the firm's $1.36 billion acquisition.
The CBOE Volatility Index (VIX) is up 1.9 points, or 9.4%, to 22.04.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.05, with puts more than doubling calls. SPY was last seen down 1.5 points, or 0.7%, at $206.21.

Find out where the Dow lands right after the closing bell. Sign up now for Schaeffer's Market Recap

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!




Rainmaker Ads CGI