Oil Leads Dow Jones Industrial Average to New High; S&P Win Streak at Risk

The Biotech Stock Getting Blown Out

Dec 12, 2016 at 11:55 AM
facebook X logo linkedin

While U.S. stocks are mixed at midday, the Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) are still fresh off record highs. Specifically, the Dow is getting a big boost from oil majors -- as crude prices jump on an output agreement between members and non-members of the Organization of the Petroleum Exporting Countries (OPEC) -- and the SPX is on track to snap its longest winning streak in two years, as expected. Drilling deeper on crude oil prices, January-dated futures were last seen up 3.5% at $53.28 per barrel, and coming off their highest level since mid-2015.

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

midday market stats dec 12

Among the stocks with unusual call volume at midday is Advanced Micro Devices, Inc. (NASDAQ:AMD), as its calls are changing hands at double the expected intraday rate -- with 50,000 contracts on the tape. The December 11 call has seen notable action, with Trade-Alert detecting buy-to-open activity. AMD is up nearly 4% at $10.74, and fresh off an analyst-induced nine-year high of $10.93.

One of the biggest losers on the Nasdaq is drugmaker Depomed Inc (NASDAQ:DEPO), down 9.7% at $18.25. Hitting the shares -- and landing them on the short-sale restricted list -- is a downgrade at Piper Jaffray

depo daily dec 12

Among the top performers on the New York Stock Exchange (NYSE) is Whiting Petroleum Corp (NYSE:WLL), thanks in part to crude oil's explosive price action. At last check, the energy stock is 2% higher at $12.38 -- though its put options are trading at triple the expected intraday rate.

The CBOE Volatility Index (VIX) is up 0.8 point, or 6.7%, at 12.54.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.31, with puts edging out calls. At last check, SPY is off 0.4 point, or 0.2%, at $226.15.

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