Dow Jones Industrial Average, Oil Slip After Crude Inventories Report

Has This Solar Stock Had Its Day In the Sun?

Jul 7, 2016 at 12:12 PM
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The Dow Jones Industrial Average (DJIA) gave up early session gains, and the S&P 500 Index (SPX) is battling the key 2,100 level, after the latest crude inventories report showed a much smaller-than-expected decline in domestic supplies. As a result, August-dated crude oil futures dropped 2.6% to $46.21 per barrel. Ahead of tomorrow's highly anticipated nonfarm payrolls report, stock traders are also digesting a three-month low in weekly jobless claims, as well as ADP data showing private-sector employment picked up significantly in June.  

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Midday Market Stats 070716

Among the stocks with unusual put volume is food and beverage stock WhiteWave Foods Co (NYSE:WWAV), with contracts crossing at 41 times their usual pace. At last check, the stock was up 18.6% at $56.25 -- right at Danone's per-share buyout price

Among the best performers on the Nasdaq is oil-and-gas company U.S. Energy Corp (NASDAQ:USEG), up 48% at $2.62 after announcing it will acquire an interest in the Wattenberg development program. USEG is now chasing down its 320-day moving average, which hasn't been toppled since September 2014.

USEG 320 day 0707

Solar energy stock First Solar, Inc. (NASDAQ:FSLR) is among the worst performers on the Nasdaq, down 8.6% at $44.91 after a downgrade from Deutsche Bank,. FSLR is now down more than 30% for the year.
      
The CBOE Volatility Index (VIX) is up 1.3%, or 0.2 point, to 15.15.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.34, with puts outpacing calls. SPY is down 0.1% at $209.63.

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