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
facebook twitter linkedin


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.  

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

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.

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

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Common mistakes options traders make
 


 


 
Special Offers from Schaeffer's Trading Partners