Dow Jones Industrial Average Jumps on Jobs; S&P Hits New High

Is the Oprah Effect Over for Weight Watchers?

Aug 5, 2016 at 12:10 PM
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The Dow Jones Industrial Average (DJIA) is up triple digits, and the S&P 500 Index (SPX) touched a new all-time intraday high, after a better-than-expected U.S. jobs report. The Dow is also getting a big lift from Merck & Co., Inc. (NYSE:MRK), which is rallying on a rival's bad news, as well as financial stocks like Goldman Sachs Group Inc (NYSE:GS), which are higher with post-payrolls rate-hike expectations.

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

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Among the stocks with unusual option volume is biotech Retrophin Inc (NASDAQ:RTRX), with calls trading at 26 times their usual intraday clip, after RTRX's earnings report last night. It looks as if some traders are selling to open the August 20 call, with the shares last seen down 0.3% at $18.72.

Biotech PTC Therapeutics, Inc. (NASDAQ:PTCT) is among the best performers on the Nasdaq today, after delivering an earnings beat last night. PTCT was last seen up 21.2% at $7.38. 

Telecom stock Sierra Wireless, Inc. (USA) (NASDAQ:SWIR) is among the  worst performers on the Nasdaq today, currently down 17.6% at $14.15, after issuing a weak forecast and receiving a handful of bearish analyst notes. Today's drop puts SWIR back below the $15 level -- which acted as resistance earlier this year -- for the first time since its post-earnings bull gap in May.

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The CBOE Volatility Index (VIX) is down 8.9%, or  1.1 points, at 11.32.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 0.46, with calls more than doubling puts and running at two times the average intraday clip. SPY is up 0.7%, or 1.6 points, at $217.99, and just off a record intraday high of $218.14.

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


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