Oil, Factory Data Pressure Dow Jones Industrial Average

Pre-Earnings Netflix Bulls Target This Level

Oct 17, 2016 at 12:10 PM
facebook X logo linkedin


It's been a choppy session so far for the Dow Jones Industrial Average (DJIA), which has explored both sides of breakeven. With a speech from Federal Reserve Vice Chair Stanley Fischer just getting underway, the Dow is in the red as slipping oil prices weigh on stocks -- November-dated crude oil was last seen down 1.5% at $49.60 per barrel. Uninspiring factory data is also applying pressure, with both the Empire State manufacturing survey and industrial production falling short of estimates. And while Bank of America Corp (NYSE:BAC) kicked off a busy week of earnings with a win, the financial stock has since moved lower in the wake of its results

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

Midday Market Stats October 17

Discount specialist Groupon Inc (NASDAQ:GRPN) is among the stocks with unusual call volume at midday, with 4,879 contracts on the tape -- three times the average intraday pace, and seven times the number of puts traded. Attracting the most activity so far are the weekly 10/28 6-strike and November 5.50 call, where it appears new positions are being initiated. The stock is up 3.5% to $5.19 following some bullish brokerage attention, widening its year-to-date advance to 69%.

Among the top performers on the Nasdaq today is biopharmaceutical firm Omeros Corporation (NASDAQ:OMER), up 4.3% at $7.66 on upbeat drug data. Still, the stock has shed more than half of its value year-to-date, tapping a two-year low on Friday.

Biotech stock PTC Therapeutics, Inc. (NASDAQ:PTCT) is among the worst performers on the Nasdaq, meanwhile. The stock has plummeted 30.4% to $9.23 today, bringing its 2016 losses to 71.5%, as the company prepares to escalate its fight against the Food and Drug Administration (FDA).

PTCT Daily Chart Oct 17

The CBOE Volatility Index (VIX) has added 0.1 point, or 0.7%, at 16.24.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.87 with puts nearly doubling calls. SPY was last seen down 0.2 point, or 0.1%, at $212.89.

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