Stocks quoted in this article:
The Dow Jones Industrial Average (INDEXDJX:.DJI) has spent the session in the red, but has pared a portion of its earlier losses, and was last seen down 15.5 points, or 0.1%, at 16,659.99. Similarly, the broader S&P 500 Index (SPX) tagged a record intraday high of 1,913.62 shortly after the open, reversed course momentarily to trade below the flat line, but was most recently seen up 1.06 point, or 0.06%, at 1,912.97. This jittery backdrop comes on a day with no economic reports to drive the market, leaving investors to react to a surge in bond prices -- which earlier sent the 10-year Treasury yield tumbling to the 2.44% level (the lowest since last summer). Looking ahead, traders will be anxiously awaiting tomorrow's preliminary reading on first-quarter gross domestic product, following a worse-than-forecast advance reading in late April.
Here are a few noteworthy stats at midday:
- The advance/decline ratio on the Nasdaq stands at 0.61, with the number of declining stocks comfortably outpacing the number of advancers.
- The equity put/call volume ratio across all 12 options exchanges comes in at 0.96. Roughly 3.18 million calls and 3.05 million puts have crossed the tape so far.
- Among the names seeing heavy call activity today is Yamana Gold Inc. (USA) (NYSE:AUY), although the stock is 1.9% lower at $7.11, after earlier tagging a five-year low of $7.05. Today's negative price action comes in the wake of a price-target cut at Cowen and Company this morning. In spite of this, today's total options volume is running at 2.89 times the intraday average, and 92.2% of the action has occurred on the call side.
- The CBOE Volatility Index (VIX) is up 0.3% this afternoon at 11.54. However, the market's "fear gauge" is comfortably on pace to notch a third consecutive sub-12 close.
- The iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) is up 0.0.1% at $33.85, after earlier falling to a fresh all-time nadir of $33.73. Meanwhile, the ETN's put/call volume ratio stands at 1.07, with put volume having the slight edge over call volume.
View a real-time chart of the Dow Jones Industrial Average (INDEXDJX:.DJI).