The DJIA is roughly 100 points higher as traders await Donald Trump's inaugural address
The Dow Jones Industrial Average (DJIA) is rallying at midday, flirting with triple-digit territory, with all eyes on Donald Trump's inauguration. Trump is scheduled to deliver his inaugural address within the hour, and traders will be listening closely for any policy-related cues. Meanwhile, post-earnings rallies from Procter & Gamble Co (NYSE:PG) and International Business Machines Corp. (NYSE:IBM) continue to boost the Dow, though fellow blue-chip stock General Electric Company (NYSE:GE) is trading lower after earnings. Elsewhere, rising oil prices are also providing a lift, with February-dated crude futures last seen 2.3% higher at $52.57 per barrel. As such, the Dow looks set to snap its five-day losing streak, though the large-cap index remains lower on the week.
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Among the stocks with unusual options volume is supplement seller Herbalife Ltd. (NYSE:HLF), after the company's weak sales guidance has the shares sliding 1.4% to trade at $52.53. Nevertheless, calls are trading at two times the intraday norm, and the January 2017 52.50-strike call is most active. It's hard to say how traders are positioning themselves here, though, with the contracts set to expire at tonight's close.
Apple Inc. (NASDAQ:AAPL) supplier Skyworks Solutions Inc (NASDAQ:SWKS) is outperforming on the Nasdaq today, after the company's impressive earnings report and guidance. The stock was last seen 12% higher at $87.84, after earlier touching an annual high of $88.90. Today's bull gap has SWKS set to close above its 100-week moving average -- a long-time level of resistance -- for the first time since April 2016.
One of the biggest losers on the Nasdaq is transportation stock
CSX Corporation (NASDAQ:CSX), as the shares give back some of
yesterday's monster gains. The stock was last seen 4.4% lower at $43.52, with a downgrade to "hold" from "buy" at Deutsche Bank also weighing.
The
CBOE Volatility Index (VIX) is down 0.8 point, or 6.9%, at 12.03.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.64, with puts outpacing calls. The SPY was last seen 1 point, or 0.5%, higher at $226.93.
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