The DJIA slipped on a smaller-than-expected decline in oil supplies
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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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.
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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