Stocks quoted in this article:
Although the preliminary U.S. gross domestic product (GDP) reading fell at a steeper-than-expected annual rate of 1% in the first quarter, the Dow Jones Industrial Average (INDEXDJX:.DJI) is up 15.06 points, or 0.09%, to 16,648.24 at midday. Additionally, the S&P 500 Index (SPX) ran to a fresh record high of 1,915.78 out of today's gate. Contributing to such gains were Wall Street's projections for strong growth in the second quarter, and a steeper-than-expected decline in jobless claims last week. Meanwhile, pending home sales increased just 0.4% in April, falling short of analysts' estimated 2% gain.
Here are a few noteworthy stats at midday:
- The advance/decline ratio on the Nasdaq stands at 1.59, with the number of advancing stocks outstripping the decliners.
- The equity put/call volume ratio across all 12 options exchanges comes in at 0.71. Roughly 3.06 million calls, compared to about 2.20 million puts, have crossed the tape so far.
- Among the names with call-heavy trading activity today is Tyson Foods, Inc. (NYSE:TSN). Overall options volume is trading at about four times the intraday average, and nearly 87% of these contracts have changed hands on the call side. Meanwhile, on the charts, TSN is up 7.1% to trade at $43.61, after the company entered the bidding war for Hillshire Brands Co (NYSE:HSH) with a $50-a-share all-cash offer.
- The CBOE Volatility Index (VIX) is hovering right at breakeven at 11.68, and is on track to finish the session below the 12 mark for the fourth consecutive trading day.
- The iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) hit a fresh record low of $33.41 earlier today, and is currently down 0.18% at $33.72. As such, the ETN is poised to close the session below the $34 level for the third day in a row. Meanwhile, the ETN's put/call volume ratio stands at 0.73, with call volume outpacing put volume.
View a real-time chart of the Dow Jones Industrial Average (INDEXDJX:.DJI).