Q2 STOCKS TO BUY

Dow Jones Industrial Average Set for Best Win Streak Since October

Valeant Bankruptcy Jitters; Plus, 3 High-Flying Casino Stocks

Mar 18, 2016 at 12:03 PM
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The Dow Jones Industrial Average (DJIA) is up triple digits ahead of quadruple witching expiration, and on track to notch its sixth straight day of gains -- the longest such streak since October -- as Dow components JPMorgan Chase & Co. (NYSE:JPM) and Goldman Sachs Group Inc (NYSE:GS) soar amid a broader rally in financial stocks. Elsewhere on Wall Street, the S&P 500 Index (SPX) has moved into positive year-to-date territory. In addition to the surging banking sector, stocks are reacting to rising oil prices, with April-dated crude futures up 0.5% at $40.40 per barrel, as optimism grows ahead of next month's meeting of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producers.

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

 

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Among today's stocks with unusual call volume today is Adobe Systems Incorporated (NASDAQ:ADBE), with the contracts crossing at 12 times the average intraday rate. A strong showing in the earnings confessional and subsequent round of bullish brokerage attention has shares of ADBE up 5.1% at $94.50 -- and fresh off a record high of $98.00. Eleventh-hour speculators are eyeing more upside, too, with buy-to-open activity detected at ADBE's March 95 call, which expires at tonight's close.

Aeropostale Inc (NYSE:ARO) is the worst performer on the New York Stock Exchange (NYSE) today, down 47.2% at $0.25. Unlike several of its sector peers, the retailer took a disappointing turn in the earnings confessional -- posting a 13th consecutive quarterly loss -- and said it was exploring strategic alternatives, including a possible sale.

One of the best performers on the NYSE is Avon Products, Inc. (NYSE:AVP), up 10% at $4.84. Earlier this week, the shares plunged following news the cosmetics manufacturer will move its headquarters overseas, but a bounce off their 20-day moving average has helped AVP tackle recent resistance at its 200-day trendline.

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The CBOE Volatility Index (VIX) is done 0.6 point, or 3.9%, at 13.88.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 0.83, with calls having a rare edge over puts. In fact, SPY calls are crossing at 1.8 times the average intraday clip. SPY is up 0.5% at $204.51.
 

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