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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.  

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
 

AI has exploded ever since ChatGPT set the world on fire near the end of 2022.

Numerous companies with connections to artificial intelligence have seen their stocks soar.

That includes Nvidia, the poster boy of AI.

Its stock has skyrocketed 716% since ChatGPT’s debut. But here’s the thing …

While everyone’s still counting their money from this first AI boom … Nvidia and countless others have moved on to the next stage.

That includes Big Tech, which is currently making a series of peculiar investments in a few strange companies. This has nothing to do with tech. At least on the surface …

Yet, these strange investments could be the early ripples of a massive wave …Without them, ChatGPT could stop operating … Amazon, Google, Microsoft and more could see profits drop drastically.

In fact, Elon Musk says these investments are critical when it comes to solving the number one problem facing AI.

Now, Silicon Valley legend Michael Robinson has identified two companies that could play a significant role in the solution.

Their stocks just may be the key to AI 2.0.

Find out more about these two companies today.
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