Dow Jones Industrial Average Slides Ahead of Bank Earnings

The Second Hottest VIX in a Decade

Apr 12, 2017 at 12:00 PM
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The Dow Jones Industrial Average (DJIA) is trading in negative territory, as geopolitical developments and the upcoming start of earnings season stoke anxiety. Specifically, U.S. Secretary of State Rex Tillerson has not been well-received in Russia, with several Kremlin officials criticizing him for last week's American airstrike on Syria. Elsewhere, financial stocks are struggling ahead of tomorrow morning's raft of bank earnings, while oil prices have swung lower. At last check, May-dated crude futures were down 0.2% at $53.31 per barrel -- on track to snap their six-session winning streak.

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

  • BlackBerry stock is blowing up.
  • Breaking down the VIX's second hottest year in a decade.
  • Plus, eBay call options explode; the drug stock gapping higher; and Cliffs breaches a key level.

midday market stats april 12

Among the names with unusual call volume today is e-tail stock eBay, with the contracts being exchanged at nine times the expected intraday clip. According to Trade-Alert, bulls are buying to open the May 35 call; plus, a bull call spread is detected at the May 36 and 38 calls, totaling nearly 10,000 contracts. At last check, EBAY stock is 0.6% higher at $34.20.

One of the top advancers on the Nasdaq is pharmaceutical stock Neurocrine Biosciences, Inc. (NASDAQ:NBIX), which has gapped 21.7% higher to trade at $50.49. The shares have gotten a lift from an FDA drug approval, as well as upbeat analyst attention. In fact, NBIX is hovering at its highest levels of 2017.

neurocrine biosciences stock today

One of the worst percentage losers on the New York Stock Exchange is Cliffs Natural Resources Inc (NYSE:CLF), dropping 7.5% to $7.38 amid a major sell-off in commodities stocks. As a result, it appears CLF shares have surrendered support at this key technical level.


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