Dow Jones Industrial Average Sinks With Crude

The Energy Stock Up Nearly 600% in 3Q

Aug 22, 2016 at 11:55 AM
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The Dow Jones Industrial Average (DJIA) dropped out of the gate following hawkish language by one Fed official over the weekend, and amid a sell-off in crude futures. While the Dow made a brief appearance in positive territory, it has since fallen back into the red, taking cues from oil prices; at last check, September-dated crude futures were off 3.1% at $47.01 per barrel. More generally, though, stocks are lower as traders gear up for Friday's speech from Fed Chair Janet Yellen -- which could signal whether the central bank is prepared to lift interest rates at its September meeting.

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

midday market stats august 22

Among the stocks with unusual options volume is electronics retailer Best Buy Co Inc (NYSE:BBY), with contracts running at seven times the expected intraday rate ahead of tomorrow morning's earnings report. Buy-to-open activity is detected at several strikes, including the September 34 call and the weekly 8/26 33-strike call. At last check, BBY shares were 0.2% higher at $32.65.

One of the top stocks on the New York Stock Exchange is cloud concern Twilio Inc (NYSE:TWLO), up over 5% at $57.69. In fact, relative to its late-June initial public offering (IPO) price of $15, the shares have nearly quadrupled in value.

twlo daily august 22

One of the worst performers on the Big Board is energy stock Marathon Energy Corporation (NYSE:MRO), sliding 7.5% at $15.55. Prompting the sell-off is the resignation of Chief Financial Officer J.R. Sult.
 
The CBOE Volatility Index (VIX) is up 1.4 points, or 12.7%, at 12.78.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.49, with puts outstripping calls. At last check, SPY is down 0.2 point, or 0.2%, at $218.18.

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