Dow Jones Industrial Average, S&P Cool Off

It 'Could Take Years' for This Stock to Recover; Plus, 'Cloud Over Herbalife Is Gone'

Jul 15, 2016 at 12:30 PM
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The Dow Jones Industrial Average (DJIA) jumped to yet another record high out of the gate, as stocks initially reacted to strong earnings from Citigroup, Inc. (NYSE:C) and solid economic data both at home and out of China. Specifically, traders digested strong June retail sales, a rising consumer price index (CPI), and a big increase in Chinese economic growth. However, the Dow and S&P 500 Index (SPX) have since cooled their jets after a five-day winning streak, but remain on pace for their third straight weekly gain.

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

midday market stats 071516

Among the stocks with unusual option volume is networking solutions specialist Ciena Corporation (NYSE:CIEN), with calls crossing at 38 times their usual pace. It appears traders are buying to open weekly 7/29 21-strike calls, as well as 20-strike calls in several near-term series, amid renewed buyout chatter. The stock was last seen up 3% at $20.06.

Fruit beverage maker Skypeople Fruit Juice Inc (NASDAQ:SPU) is among the best performers on the Nasdaq today, up 46.4% at $6.69. In fact, the stock was halted for volatility earlier today, and has nearly tripled so far this week. This puts SPU above its 320-day moving average for the first time since June 2015, and up over 300% since hitting an annual low in May.

SPU 320 day MA

Consulting firm Infosys Ltd ADR (NYSE:INFY) is among the worst performers on the New York Stock Exchange today. The stock is down 9.4% at $16.71, following an earnings miss and a weak full-year outlook.

The CBOE Volatility Index (VIX) is up 2.6%, or 0.3 point, at 13.15.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.23, with puts leading calls. SPY is down 0.1%, or 0.3 point, at $215.87, but earlier touched a record high of $217.01.


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