Stocks quoted in this article:
The Dow Jones Industrial Average (DJI - 12,519.80) has taken off just before lunchtime, leaping more than 109 points, or 0.9%. At last look, Wall Street has been able to brush aside mounting concerns with the rising bond yields in Spain and Italy, as well as this weekend's election in Greece. Elsewhere, the CBOE Market Volatility Index (VIX - 22.21) is off 1.3 points, or 5.7%.
Here are a few noteworthy stats at midday:
- The equity put/call volume ratio across all nine options exchanges rests at 1.10, with 2.03 million puts changing hands so far today, compared to 1.84 million calls.
- Among the equities with heavy put activity is Noble Corporation (NE - 31.78), which has moved higher by 2.4% so far today, despite a price-target reduction from FBR. Specifically, the brokerage cut its target for the offshore drilling outfit to $100 from $105.
- The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (VXX) stands at 1.16, with puts outstripping calls.
- The New York Stock Exchange (NYSE) shows an advance/decline ratio of 2.63, signaling that the number of upward movers easily outpaces the decliners.
- Among the Nasdaq's major advancers is Michael Kors Holdings (KORS - 40.05), which has surged roughly 4% in intraday action. Early this morning, the fashion designer unveiled better-than-expected fiscal fourth-quarter results.