Q2 STOCKS TO BUY

Dow Jones Industrial Average Climbs Higher with 'Brexit' Vote in Focus

Fitbit's 'Amazing' Numbers; Plus, The Semiconductor Stock Up 50%

Jun 23, 2016 at 11:58 AM
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The Dow Jones Industrial Average (DJIA) is extending its triple-digit lead at midday, as stocks gain ahead of tonight's "Brexit" vote outcome. Rising oil prices and strong economic data are also boosting stocks. Specifically, August-dated crude futures are up 1% at $49.61 per barrel, while weekly jobless claims fell to a two-month low. With 29 of 30 Dow stocks trading in the black, banks stocks JPMorgan Chase & Co. (NYSE:JPM) and Goldman Sachs Group Inc (NYSE:GS) are leading the charge ahead of tonight's initial stress test results from the Fed, as expectations Britain will remain in the European Union (EU) continue to grow. 

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

Midday Market Stats June 23

Among the stocks with unusual options activity is BlackBerry Ltd (NASDAQ:BBRY). With the stock up 2.3% at $6.90 following the company's better-than-expected quarterly results, options volume is at four times the intraday norm. Most of the activity is taking place on the call side, where volume is almost triple that of puts. Of course, this is just more of the same from BBRY options traders

One of the top gainers on the New York Stock Exchange is Yelp Inc (NYSE:YELP), following Needham's bullish note. Shares of the social media stock are 2.7% higher at $29.06, putting them back into the black for 2016. On the other hand, YELP's 320-day moving average is looming right overhead. 

Daily Chart of Yelp June 23

Over on the Nasdaq, media firm Viacom, Inc. (NASDAQ:VIAB) is underperforming yet again. The shares are down 1.9% at $43.18, even though analysts have been becoming more bullish. For instance, Citigroup last night bumped its price target to $48 from $41. 
      
The CBOE Volatility Index (VIX) is down 3.3 points, or 15.8%, at 17.83. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 0.90, with calls outpacing puts once again. SPY is up 2 points, or 1%, at $210.13.

Find out where the Dow lands right after the closing bell. Sign up now for Schaeffer's Market Recap
 

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