The DJIA is higher at midday, as Fed heads talk rate-hike timing
The
Dow Jones Industrial Average (DJIA) has pared its gains -- but is still enjoying a triple-digit lead -- as Wall Street deciphers ongoing rate-hike speculation. On the heels of the
central bank's decision last week -- which pushed the Dow
back in correction territory -- St. Louis Fed President James Bullard was among those voicing support for a
rate hike this year. What's more, Atlanta Fed President Dennis Lockhart will be
speaking later today, kicking off a week chock-full of central bank speeches. Elsewhere, Goldman Sachs Group Inc (NYSE:GS) reiterated expectations for the
S&P 500 Index (SPX) to climb back atop 2,100 by the end of the year, and the Street is apparently shrugging off a drop in existing home sales last month.
Continue reading for more on today's market -- and don't miss:
Among the stocks with notable call activity is cybersecurity issue Cyberark Software Ltd (NASDAQ:CYBR). The contracts are crossing at four times the pace expected for this time of day. However, activity on some of the more popular strikes appears to be of the sell-to-open variety, suggesting some traders are betting on a short-term ceiling. CYBR is 6.9% higher today at $50.95, thanks to some bullish attention from the Street.
One of the leading gainers on the Nasdaq is Atmel Corporation (NASDAQ:ATML), on news the company is being purchased by Dialog Semiconductors for $4.6 billion. The microcontroller producer has now jumped 14.2% to $8.30.
Another winner today is Pandora Media Inc (NYSE:P), which is near the top of the Big Board. Shares of the music streamer are 4.7% higher at $20.63 -- and earlier hit a new year-to-date high -- after being halted twice ahead of a favorable copyright ruling.
The CBOE Volatility Index (VIX) is 1.2%, or 5.4 points, lower, but found support right above the 20 level earlier today.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.81, with puts nearly doubling calls. SPY was last seen 2.1 points, or 1.1%, higher, at $197.51.