The DJIA has pulled back since hitting yet another record high
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:
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.
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.
Find out where the Dow lands right after the closing bell. Sign up now for Schaeffer's Market Recap