The DJIA has added triple digits as crude oil rises on comments from Saudi Arabia and the IEA
The Dow Jones Industrial Average (DJIA) is booming -- adding more than 100 points, and notching a new record high. A round of well-received retail earnings and some solid economic data is having a positive effect, while a recovery in crude oil prices is also giving stocks a major boost. Specifically, crude futures for September delivery have added 3.9% to $43.33 per barrel, after a top energy official for Saudi Arabia said it was willing to possibly discuss taking steps to stabilize the price of oil at next month's meeting of the Organization of the Petroleum Exporting Countries (OPEC). Plus, the International Energy Agency (IEA) said its "balances show essentially no oversupply during the second half of the year."
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Among the stocks with unusual options volume at midday is financial interest LendingClub Corp (NYSE:LC), where calls are trading at five times their usual intraday rate. In fact, calls are outpacing puts more than 10-to-1. The August 5 call is leading so far, with more than 5,300 contracts on the tape. After falling on disappointing earnings earlier this week, LC is making a big rebound today, last seen up 10.6% at $5.43.
Kohl's Corporation (NYSE:KSS) is among the top performers on the New York Stock Exchange, adding 14% at $43.38 after a well-received second-quarter earnings report. The shares have broken through a previous layer of resistance and could be ready to close north of their 200-day moving average for the first time in more than a year.
Among the worst performers on the Big Board, meanwhile, is fast food firm Shake Shack Inc (NYSE:SHAK), which reported disappointing quarterly same-stores sales. Bearish action is heating up in the equity's options pits as the shares plummet 5.3% to $38.70, bringing their year-over-year loss to more than 40%.
The CBOE Volatility Index (VIX) is down 0.5 point, or 4.1%, at 11.56.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.63, with puts comfortably outpacing calls. SPY was last seen up 1.1 point, or 0.5%, at $218.76.
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