Dow Slides Triple Digits as Treasury Yields Surge

The 10-year Treasury yield rose back above 3%

by Emma Duncan

Published on May 15, 2018 at 12:04 PM
Updated on May 15, 2018 at 12:06 PM

Stocks are trading lower at midday, with the Dow Jones Industrial Average (DJI) plummeting 219 points at its intraday low on the back of Home Depot's (HD) disappointing sales. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also significantly lower, with housing stocks among the top decliners. A surging 10-year Treasury yield also has traders on edge, as the rate moved above 3% earlier to reach its highest point since July 2011. 

Continue reading for more on today's market, including:

  • One analyst is predicting 90% upside for Micron stock.
  • Buy Valeant stock, says Mizuho.
  • Plus, call volume surges on a retail ETF; which tech name is outperforming the broader index; and why Live Nation stock is plummeting.

Midday Market Stats May 15

Retail stock-based exchange-traded fund (ETF) SPDR S&P Retail ETF (XRT) is sporting unusual options volume today, with roughly 15,000 calls traded so far -- about 8 times the intraday norm. Seeing the most action is the weekly 6/1 45.50-strike call, where 11,204 contracts have traded on open interest of just 26 contracts. XRT was 0.3% higher at $46.20, as traders weigh HD earnings against a 0.3% uptick in April retail sales.

The top performer on the New York Stock Exchange (NYSE) is 3-D printing specialist 3D Systems Corporation (NYSE:DDD), with stock volume pacing in the 94th percentile of its annual range at midday. DDD stock is 10% higher at $13.42, at last check -- extending a recent recovery from a brief dip below previous resistance at its 120-day moving average -- and up 53% year-to-date.

Daily Chart of DDD with 120 MA

One of the Nasdaq's worst performers today is holding company Live Ventures Inc (NASDAQ:LIVE), after the company reported fiscal second-quarter earnings last night. Live Ventures stock is down 9% at $13.91 to test support at its 200-day moving average.


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