The DJIA is higher with oil, while the SPX has retaken the key 2,100 level
The
Dow Jones Industrial Average (DJIA) is sitting moderately higher at midday, as
oil prices recover from their early slump. At last check, crude oil for August delivery was up 0.6% to $48.62 per barrel. A strong Institute for Supply Management (ISM) manufacturing index -- which rose to a better-than-expected 53.2 in June, its highest perch since February 2015 -- is also helping to boost stocks ahead of
the long holiday weekend. Notably, the
S&P 500 Index (SPX) has retaken the 2,100 level, and is on pace for its best week since October 2014.
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Lions Gate Entertainment Corp. (USA) (NYSE:LGF) is among the stocks with unusual options volume at midday. The stock has shed 4.1% to $19.40, on
negative analyst attention following yesterday's
big M&A announcement. At last check, LGF puts are crossing the tape at 11 times their typical intraday rate, though calls still outnumber puts roughly 5-to-1 on an absolute basis. Most active is the July 22 call, where it appears traders may be buying to open new positions, anticipating a rebound in the shares by the close on Friday, July 15, when the front-month series expires.
Among the top performers on the Nasdaq today is
Netflix, Inc. (NASDAQ:NFLX). The stock has added 5.2% at $96.22, and is on pace to close north of its 60-day moving average for the first time since June 8, after
Nielson revealed strong viewership numbers for the first time on some of the streaming giant's most popular original content. An upbeat brokerage note is also giving the stock a boost.
Semiconductor stock
Micron Technology, Inc. (NASDAQ:MU) is among the Nasdaq's worst performers. The company reported disappointing earnings last night, and announced it will cut jobs. The news also attracted
a slew of bearish analyst attention, and has the shares sitting 8.8% lower at $12.55.
The
CBOE Volatility Index (VIX) is down 0.7 point, or 4.2%, at 14.97 -- its lowest level in three weeks.
Today's put/call volume ratio on the
SPDR S&P 500 ETF Trust (SPY) is 1.48, with puts comfortably outnumbering calls. SPY was last seen up 0.6 point, or 0.3%, at $210.04.
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