Dow Jones Industrial Average Takes a Breather After Record Highs

3 Drugmakers Blasting Off

Jul 13, 2016 at 12:14 PM
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The Dow Jones Industrial Average (DJIA) is lower as stocks take a breather, though the Dow and S&P 500 Index (SPX) once again reached new all-time highs earlier in the day. August-dated crude oil is down 4% at $44.94 per barrel, after an International Energy Agency (IEA) warning and a smaller-than-expected drop in weekly U.S. stockpiles. Ahead of the 2 p.m. ET release of the Fed's Beige Book, Dallas Fed President Robert Kaplan encouraged "slow, gradual, careful" actions on interest rate hikes, and said the central bank is "very sensitive" to the dollar's strength.

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Midday Market Stats 071316

Among the stocks with unusual option volume is music streaming service Pandora Media Inc (NYSE:P), with contracts crossing at nine times their usual pace. The stock was last seen up 0.7% at $13.15, after some bullish brokerage notes.

Among the best performers on the New York Stock Exchange is healthcare IT provider Imprivata Inc (NYSE:IMPR), up 31.2% at $19.02, following news that the company is to be acquired by private equity firm Thoma Bravo for $544 million. IMPR is up over 68% year-to-date, with its 100-day moving average acting as a support level since late February.

IMPR 100 day

Medical device maker Avinger Inc (NYSE:AVGR) is among the worst performers on the Nasdaq today, down 40.4% at $6.82 -- and just off an all-time low of $6.51 -- after issuing a weak second-quarter revenue outlook and cutting its full-year guidance.     

The CBOE Volatility Index (VIX) is at breakeven, currently sitting at 13.55.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.75, with puts being brought to open at a faster clip than calls. SPY is down 0.2%, or 0.3 point, at $214.69, but earlier notched a record high of $215.45.

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