Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Slumps On Disappointing Economic Reports

Thermo Fisher Scientific Inc. and Amgen, Inc. plunge after reporting first-quarter earnings

by 4/23/2014 11:59 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is sitting 17.8 points, or 0.11%, south of breakeven at midday, at 16,496.61, following a round of disappointing economic reports. First, the latest data on new home sales showed a sharp decline of 14.5% in March, compared to the modest gain projected by economists. Meanwhile, Markit's preliminary purchasing managers manufacturing index (PMI) dipped to a lower-than-expected 55.4. However, factory output for this month has grown at its fastest rate in three years.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 12 options exchanges stands at 0.79. Roughly 3.07 million calls, compared to about 2.44 million puts, have crossed the tape so far.

  2. Among the names with call-heavy trading activity today is Thermo Fisher Scientific Inc. (NYSE:TMO). At last check, more than 95% of the stock's intraday options volume had changed hands on the call side. On the charts, meanwhile, TMO is down 1.8% to trade at $118.15, despite an upbeat turn in the earnings confessional this morning.

  3. The Nasdaq shows an advance/decline ratio of 0.84, with decliners easily outpacing advancing stocks.

  4. Among the underperformers on the Nasdaq today is Amgen, Inc. (NASDAQ:AMGN), which is down 6% to trade at $112.16, after reporting weak first-quarter earnings results last night.

  5. The CBOE Volatility Index (VIX) is up 1.8% at 13.43 this afternoon, but is still on pace to finish its fourth consecutive session below the 14 mark.

  6. The iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) is down .02%% to $40.89. Meanwhile, the ETN's put/call volume ratio stands at 1.89, with put volume almost doubling call volume.

View a real-time chart of the Dow Jones Industrial Average (INDEXDJX:.DJI).

Unusual Option Volume

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