Dow Jones Industrial Average Closes In On Best Year Since '13

3 First-Quarter Breakout Candidates

Dec 30, 2016 at 11:51 AM
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The Dow Jones Industrial Average (DJIA) is only an inch higher at midday after some early profit-taking, suggesting the index's trek to the 20,000 level will have to wait until 2017. Nevertheless, the Dow is poised to close 2016 on an almost 14% gain -- its best year since 2013 -- topping the S&P 500 Index (SPX) and Nasdaq Composite (COMP), which are up nearly 10% and 8%, respectively. Meanwhile, despite February-dated crude futures being down 0.4% at $53.56 per barrel, oil is on track for its biggest annual percentage gain since 2009, up almost 45%.

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midday market stats dec 30

Among the stocks with unusual call volume at midday is Cal-Maine Foods Inc (NASDAQ:CALM), with the contracts running at eight times the usual intraday rate. From all indications, one trader bought to open a block of 2,000 May 45 calls, betting on extended upside for shares of the egg marketer. At last check, CALM stock was 0.7% higher at $44.00.

Cabela's Inc (NYSE:CAB) is the biggest loser on the New York Stock Exchange (NYSE) today, down 6.4% at $57.73. The retail shares are tanking after the Federal Trade Commission (FTC) requested additional information related to the company's planned merger with Bass Pro Shops.

cab daily dec 30

Innocoll Holdings PLC (NASDAQ:INNL) is the worst performer on the Nasdaq, down 65% at $0.62, and fresh off a record low of $0.60. Weighing on the drug stock is the Food and Drug Administration's (FDA) refuse to file letter on company's pain treatment, Xaracoll, which was followed by a pair of downgrades.

The CBOE Volatility Index (VIX) is up 0.3 point, or 2.5%, at 13.71.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.63, with puts comfortably outpacing calls. Currently, SPY is off 0.3 point, or 0.1%, at $224.06.

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