The VIX has pulled back 20% as North Korea tensions subside
The Dow Jones Industrial Average (DJIA) is higher at midday, boasting a triple-digit lead and climbing back atop the 22,000 level. The rally comes after U.S. officials vowed to pursue diplomatic maneuvering with North Korea, after tensions with the rogue nation fueled a stock market sell-off last week. The S&P 500 Index (SPX) and Nasdaq Composite (COMP) are also currently higher, while the CBOE Volatility Index (VIX) -- or the stock market's "fear gauge" -- has pulled back 20%.
Continue reading for more on today's market -- and don't miss:
- Analysts: Now is the time to buy this semiconductor stock.
- This FAANG stock could shed 50%, according to one media outlet.
- Plus, bullish activity on Finisar; AMD stock's rebound; and Community Health Systems' drop.
Among the stocks with unusual volume is
optical solutions specialist
Finisar Corporation (NASDAQ:FNSR), with roughly 6,500 calls traded. That is five times the average intraday pace, and on track for the 98th percentile of its annual range. The September 27 call is the most active, accounting for 5,100 contracts. FNSR stock is currently up 2.5% to trade at $24.00.
Apple supplier Advanced Micro Devices, Inc. (NASDAQ:AMD) is trading near the top of the S&P today, up 4.7% at $12.79, as chip stocks rebound. The stock seems to have found support atop its 200-day moving average, which has contained recent pullbacks.
Community Health Systems (NYSE:CYH) is trading lower today, among the worst stocks on the NYSE, down 8.5% to trade at $6.81. The drop today comes after the stock's dramatic rebound on Friday, as hospital stocks jumped. However,
CYH stock had ran into a wall in the $7.50 neighborhood -- where the shares fell after Community Health suffered a post-earnings bear gap in late July.