Oil Rally Fails to Energize Dow Jones Industrial Average

The Dow Jones Industrial Average (DJIA) is trading lower at midday, following yesterday's triple-digit surge. Traders are keeping a close eye on the U.K., which officially began its exit from the European Union by triggering Article 50. The energy sector is also in focus, as oil prices gain thanks to a smaller-than-expected increase in domestic crude inventories. May-dated crude futures were last seen up 1.7% at $49.18 per barrel, with booming energy stocks helping the S&P 500 Index (SPX) outperform. Elsewhere, Chicago Fed President Charles Evans said he supports one or two more rate hikes this year, while Boston Fed President Eric Rosengren said the Fed's "default" this year should be "four tightenings, reflecting the strength of the economy that I believe justifies more regular normalization of interest rates."

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

• Why analysts think this could be a "golden era" for Facebook stock. 
• The healthcare stock to own in the second quarter. 
• Plus, options traders eye a Skechers rebound; the biotech booming on drug data; and another high for Activision Blizzard. 

Among the names seeing accelerated options trading is shoe stock Skechers USA Inc (NYSE:SKX), which is down 4.3% at $28.66, after a downgrade at Susquehanna. However, it seems options traders are betting on SKX stock to rebound in the coming months. For instance, calls are trading at 10 times the expected intraday pace, thanks to heavy action at the May 30 call. Data suggests some buy-to-open activity could be taking place here, which would mean traders are speculating on a move back above $30. 

One of the top gainers on the Nasdaq is drug stock Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). The shares were last seen 22.3% higher at $109.68, after the company's cystic fibrosis treatment succeeded in a late-stage study. Today's rally brings VRTX stock's year-to-date gain to roughly 50%, and puts it in territory not seen in over a year. 

Another Nasdaq winner today is video game stock Activision Blizzard, Inc. (NASDAQ:ATVI) -- but, of course, that's nothing new. With its 0.5% rise today to trade at $50, ATVI stock is now up nearly 39% in 2017, and earlier hit a record high of $50.32. More promising still, the shares could find options-related support just below current levels.