S&P, Nasdaq Nab Fresh Highs; Dow Jones Industrial Average Climbs

3 Drugmakers Swinging Wildly; Plus, Disney Earnings Preview

by Kirra Fedyszyn

Published on Aug 9, 2016 at 12:15 PM

The Dow Jones Industrial Average (DJIA) has added to its morning gains, while both the S&P 500 Index (SPX) and Nasdaq Composite (COMP) hit fresh intraday record highs. Earnings are headlining the day's news, with healthcare and retail stocks at the forefront. Traders are also digesting an upwardly revised increase in June wholesale inventories, a surprise drop in second-quarter productivity, and oil prices edging higher. At last check, crude futures for September were up 0.3% at $43.16 per barrel. 

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

Midday Market Stats August 9

Rackspace Hosting, Inc. (NYSE:RAX) is among the stocks with unusual options volume at midday. Specifically, the stock's options are crossing the tape at six times the average intraday rate, with puts more than doubling calls. The August 27.50 and 28 puts are in the lead, with more than 1,500 traded at each. RAX is up 4.4% at $29.88 today, after easily beating on second-quarter earnings last night. The stock has added 28% already in August, thanks to swirling M&A speculation.

Biotech concern Endo International plc - Ordinary Shares (NASDAQ:ENDP) is the top performer on the Nasdaq so far today, adding 24.1% to $22.57, after its quarterly profits and revenue beat expectations. The results earned ENDP some upbeat analyst attention, but the stock is still far short of last year's record highs.

ENDP Daily Chart August 9

Among the worst performers on the Nasdaq, meanwhile, is TubeMogul Inc (NASDAQ:TUBE), which has shed 19% to $10.24 on disappointing quarterly results and ugly guidance. The stock is down 25% year-to-date, and could be in for even more losses should analysts continue to lower their outlooks.

CBOE Volatility Index (VIX) is down 0.2 point, or 2%, after tapping an intraday low of 11.02 -- its lowest level in more than a year.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.44, with puts easily outnumbering calls. SPY was last seen up 0.7 point, or 0.3%, at $218.73.

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