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The U.S. trade deficit expanded to a multi-year high
The Dow Jones Industrial Average (INDEXDJX:DJI) is surging amid a recovery in crude futures -- up 164.4 points, or 0.9% -- and is flirting with its year-to-date breakeven mark. Also fueling the risk-on approach is the latest unemployment report, which showed fewer first-time jobless claims than expected last week, and big acquisition news from Dow component Pfizer Inc. (NYSE:PFE). Elsewhere on the economic front, U.S. nonfarm productivity surprisingly dropped in the fourth quarter, while the national trade deficit rose to its highest level since 2012.
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Among the stocks with notable put volume is coffee giant Keurig Green Mountain Inc (NASDAQ:GMCR), which landed on the short-sale restricted list following this morning's post-earnings bear gap -- forcing traders to seek alternative avenues for betting bearishly. The contracts are crossing at nine times the expected intraday rate, with the most attention centered on the weekly 2/6 110-strike put. GMCR was down by as much as 10% earlier, but has since pared its deficit to 3.5%, at $116.97.
For more midday statistics and stocks on the move, head to page 2.
Generic drugmaker Hospira, Inc. (NYSE:HSP) is the biggest gainer on the Big Board, following PFE's $15 billion buyout. At last check, shares of the former are up more than 35% to trade at $87.55, after touching a record high of $87.73 earlier.
Cloud concern E2open Inc (NASDAQ:EOPN) is leading the way on the Nasdaq, tacking on nearly 40% to hover around $8.53. The gap higher was prompted by news that the company will be acquired by Insight Venture Partners for roughly $273 million.
The CBOE Volatility Index (VIX) is off 1.6 points, or 8.5%, at 16.78.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.81, with puts easily outpacing calls. At last check, SPY is up 1.7 points, or 0.8%, at $205.72.