Dow Jones Industrial Average, S&P Soar on Blockbuster Jobs Report

The Drugmaker Up 1,000% in 5 Months

Jul 8, 2016 at 12:06 PM
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The Dow Jones Industrial Average (DJIA) is up triple digits, crossing the key 18,000 level to a three-month high, after this morning's promising nonfarms payrolls report, which surpassed expectations for June jobs growth. In fact, the blockbuster jobs report has all three major market indexes north of their pre-"Brexit" levels. The S&P 500 Index (SPX) has surpassed the key 2,100 level and is on pace for its highest close in nearly a year, and the Nasdaq Composite (COMP) jumped above the round 4,900 region. 

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

Midday Market Stats 070816

Among the stocks with unusual call volume is cybersecurity stock Barracuda Networks Inc (NYSE:CUDA), with contracts crossing at 32 times their usual pace, and puts trading at two times their usual pace. At last check, the stock was up 17.4% at $18.24, after an impressive earnings report.

Among the best performers on the Nasdaq is water treatment stock Euro Tech Holdings Co Ltd (NASDAQ:CLWT), up 61.2% at $3.56 -- and just off a two-year high -- following an announcement that one of its subsidiaries has been awarded a $6 million contract to develop wastewater treatment systems in China. 

Retail stock PriceSmart, Inc. (NASDAQ:PSMT) is among the worst performers on the Nasdaq today, down 9.3% at $83.00, after an earnings miss. PSMT is now sitting well below its 50-day moving average, which had acted as support for the stock since early March.

PSMT 50 day moving average 0708
      
The CBOE Volatility Index (VIX) is down 7.7%, or 1.1 points, to 13.63.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.01, with puts only marginally ahead of calls. SPY is up 1.3% at $212.15.

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

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