Dow Jones Industrial Average, Oil Gain; Nasdaq Hits Record High

Why This Biotech Stock is Bombing

Aug 23, 2016 at 12:02 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) shot higher out of the gate -- briefly flirting with a 100-point lead -- but was last seen sitting on more modest gains. Stocks are reacting to a mixed round of data, including a surprise jump to a nearly nine-year high in new home sales for July and an unexpected decline in manufacturing activity. In general, though, tech stocks continue to outperform, sending the Nasdaq Composite (COMP) to a record high earlier. Meanwhile, on the commodities front, crude oil has overcome early headwinds -- with October-dated crude futures trading 1.1% higher at $47.93 per barrel -- after a Reuters report signaled Iran may be willing to participate in a coordinated production freeze.

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

midday market stats august 23

Among the stocks with unusual options volume is Monsanto Company (NYSE:MON), amid mounting buyout buzz. At last check, MON options were trading at six times the expected intraday rate, with potential buy-to-open activity transpiring at the October 115 call. Meanwhile, the shares are up 2.6% at $107.17.

One of the top stocks on the New York Stock Exchange is retailer Best Buy Co Inc (NYSE:BBY), following a standout turn in the earnings confessional. The shares were last seen 17.2% higher at $38.45, fresh off a 52-week intraday peak, and on track for their highest close in over a year.

bby daily august 23

Another top performer on the Big Board is Tableau Software Inc (NYSE:DATA), as analysts react positively to a C-suite shakeup. Currently, the tech stock is 12.8% higher at $61.91, and testing resistance at its 200-day moving average.
 
The CBOE Volatility Index (VIX) is off 0.3 point, or 2.3%, at 11.99.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.42, with puts outpacing calls. At last check, SPY is up 0.8 point, or 0.3%, at $219.28, after earlier hitting a record high of $219.60.

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

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI