The EIA said U.S. crude production increased last week
The Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) have both fallen into the red, though the Nasdaq Composite (COMP) is outperforming at midday. Investors continue to watch the struggling energy sector, as oil prices keep sliding, paring early gains in spite of a large drop in domestic crude inventories. The Energy Information Administration (EIA) said U.S. supplies fell by more than expected last week, but domestic production increased. At last check, August-dated crude futures were down 0.2% at $43.44 per barrel. But outside of tech and healthcare stocks, there's little for traders to cheer about, with the Dow and SPX on pace for a second straight loss.
Continue reading for more on today's market -- and don't miss:
- 3 Amazon victims that could see more downside.
- The "Epyc" news lifting AMD stock.
- Plus, Twitter call options pop; another big day for Valeant; and yet another stock Amazon is crushing.
Among the stocks with unusual options volume today is Twitter Inc (NYSE:TWTR), as shares of the social media concern rally. TWTR stock was last seen up 6.5% at $18.02, amid reports that Cleveland Research has received constructive feedback from Twitter advertisers. Calls are flying off the shelves, trading at four times the expected pace. In the lead is the weekly 6/23 18-strike call, with the July 19 call seeing heavy action, as well. Buy-to-open activity looks likely at these strikes, meaning Twitter options traders are expecting the stock to extend its run higher over the coming weeks.
Valeant Pharmaceuticals Intl Inc (NYSE:VRX) is again outperforming on the New York Stock Exchange, last seen up 4.7% at $13.77. This puts the shares on pace for their highest close since May 16, though they again topped out just below the $14 mark.
Dick's Sporting Goods Inc (NYSE:DKS) is another retail stock selling off on news Nike could begin selling directly on Amazon, putting the shares near the bottom of the Big Board. At last check, DKS stock was down 5.4% at $37.42, earlier touching an annual low of $35.87.