Dow Jones Industrial Average Gives Up Early Lead

How Low Can Twitter Go? Plus, 3 Apple Suppliers Blasting Off

Jul 27, 2016 at 12:21 PM
facebook twitter linkedin

The Dow Jones Industrial Average (DJIA) jumped at the open, thanks to earnings beats from Dow stocks Apple Inc. (NYSE:AAPL) and Boeing Co (NYSE:BA). However, the Dow has given up its early lead, as stocks react to downbeat data on durable goods orders, a post-earnings drop for blue chip The Coca-Cola Co (NYSE:KO), and sinking oil prices. September-dated crude fell by 1.9% to $42.11 per barrel, after the latest weekly crude inventories report showed a surprise rise in domestic supplies. Meanwhile, investors are awaiting this afternoon's Federal Open Market Committee (FOMC) policy decision. 

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

Midday Market Chart 072716

Among the stocks with unusual option volume is Dow stock The Coca-Cola Co (NYSE:KO), with puts trading at seven times the usual intraday clip. KO's August 43 put is the most active option, with some post-earnings traders likely selling the contracts to close. KO was last seen down 3.4% at $43.35. 

Biotech Recro Pharma Inc (NASDAQ:REPH) is among the best performers on the Nasdaq today, after promising late-stage trial results for its non-opiod intravenous painkiller, Meloxicam. REPH is up 23.4% at $9.48 -- and earlier touched a year-to-date high of $12.50 -- and finally past resistance at its 200-day moving average.

REPH 200 day MA 072716

Tech stock Akamai Technologies, Inc. (NASDAQ:AKAM) is among the worst performers on the Nasdaq today, down 16.6% at $48.42, after issuing lackluster current-quarter guidance and getting bombarded by bearish brokerage notes. AKAM is currently on the short-sale restricted list, with options trading at 11 times their usual clip. 

The CBOE Volatility Index (VIX) is up 2.4%, or  0.3 point, at 13.36.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.53, with puts outpacing calls. SPY is down 0.3%, or 0.7 point, at $216.10. 

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


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners