The DJIA is struggling to hold positive territory as crude oil turns lower
After starting the day in positive territory, the Dow Jones Industrial Average (DJIA) has erased most of its intraday gains following a dip in oil prices. At last check, May crude futures are trading down 0.7% at $39.18 a barrel. Meanwhile, traders have been digesting today's round of economic data, including a rise in pending home sales and tepid gains in consumer spending and incomes. Should the Dow lose its foothold on positive territory, it could be on track for a fourth consecutive daily loss.
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GameStop Corp. (NYSE:GME) is among the stocks with unusual option volume at midday, with nearly 8,000 calls and about 8,500 puts crossing the tape so far -- representing four times GME's expected intraday volume. Today's surge in speculative trading activity coincides with a 0.2% drop in the stock to $30.20 following a late-Thursday revenue miss.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) is among the top performing stocks on the Nasdaq, up 20% at $24.36 on
upbeat drug news. However, ACAD is still off nearly 32% in 2016, and today's rally has fizzled near the site of its 80-day moving average, currently located at $25.32.
Among the worst performers on the New York Stock Exchange today is streaming music giant
Pandora Media Inc (NYSE:P), off 9.2% at $9.93 on news that
CEO Brian McAndrews is leaving, and will be replaced by the company's founder. The stock was recently turned away by resistance at its 20-week moving average, which hasn't been surmounted on a weekly closing basis since last October.
The CBOE Volatility Index (VIX) is 0.68 point, or 4.6%, higher, at 15.42.
Today's put/call volume ratio on the
SPDR S&P 500 ETF Trust (SPY) is 1.52, with puts significantly outnumbering calls. SPY was last seen off 27 points, or 0.1%, at $202.84.