The DJIA is set to break its longest winning streak since 2013
The Dow Jones Industrial Average (DJIA) fell out of the gate, and is on track to break its nine-day winning streak -- the longest since 2013 -- due to lackluster earnings from a trio of blue-chip stocks. Upbeat economic data may be keeping losses in check, though, as traders digest an unexpected drop in weekly jobless claims and a nine-year high for existing home sales in June.
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Among the stocks with unusual option volume is personal camera maker GoPro Inc (NASDAQ:GPRO), with calls trading at four times their usual intraday pace, and activity centered around the weekly 7/22 11- and 11.50-strike calls. The stock was last seen up 3.8% at $11.31, ahead of next Wednesday's earnings report.
Mining equipment maker Joy Global Inc. (NYSE:JOY) is among the best performers on the New York Stock Exchange today. JOY shares are up 17.5% at $27.67, after news that Japanese mining and construction equipment company Komatsu Ltd. will purchase the firm for $2.89 billion.
Office supply wholesaler Essendant Inc (NASDAQ:ESND) is among the worst performers on the Nasdaq today, down 28.8% at $23.15, after a disappointing earnings report. This latest drop pushes the shares well below the $29 level, which had contained pullbacks since May, with ESND touching a near-seven-year low of $21.18 earlier.
The CBOE Volatility Index (VIX) is up 5.2%, or 0.6 point, at 12.38.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.50, with puts more than doubling calls. SPY is fractionally lower at $216.61.
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