Dow Bounces Back; Nasdaq Hits New High

The Dow Jones Industrial Average (DJIA) is holding higher at the halfway point, with investors digesting a huge slate of economic data. Most notably, this morning's impressive ADP payrolls report is providing a boost for stocks, boding well for tomorrow's nonfarm payrolls report, while likely adding to the case for a June rate hike. On the other hand, construction spending in April fell unexpectedly, and the ISM manufacturing index for May also missed estimates. But with a larger-than-expected drop in domestic crude inventories supporting oil prices -- July-dated crude futures are up 1.4% at $48.97 per barrel -- the risk-on appetite has returned to Wall Street. Not only is the Dow set to snap its three-session losing streak, but the Nasdaq Composite (COMP) earlier touched another record high. 

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

• 3 stocks up big after earnings. 
• The M&A buzz rewarding these timely options traders. 
• Plus, Citron predicts the "next NVIDIA"; ADI calls are hot; and a tech stock down big after earnings. 

Among the stocks with unusual options volume today is semiconductor stock Analog Devices, Inc. (NASDAQ:ADI). Just a day after rallying thanks to a strong earnings report, ADI stock is down 2.7% at $83.48, and calls are trading at eight times the expected rate. The most popular options are the June 80 and 82.50 calls, where it looks like traders are closing the now in-the-money positions. Meanwhile, other bulls are likely buying to open the June 90 call, expecting shares of Analog Devices to rally above $90 before the front-month contracts expire on Friday, June 16. 

BlackBerry Ltd (NASDAQ:BBRY) is one of the top gainers on the Nasdaq today, as the shares keep their recent hot streak after Citron Research said the shares could be the next NVIDIA Corporation (NASDAQ:NVDA). Specifically, BBRY stock is up 9% at $11.53, with Citron saying the shares could double in value and the company is a compelling acquisition target. This brings BBRY's year-to-date gain to over 67%. 

Over on the Big Board, Hewlett Packard Enterprise Co (NYSE:HPE) is down 5.2% at $17.84, following the company's disappointing earnings report. The shares have dropped below their 50-day moving average, but are holding above their 200-day moving average, which has provided support in the past.