The DJIA has stumbled, as a relatively upbeat round of economic data sparks rate-hike worries
The
Dow Jones Industrial Average (DJIA) is on track to finish the week on a low note, as investors worry that
strong retail sales data could reinforce the Fed's case for raising interest rates. Elsewhere on the economic front, consumer sentiment rose more than expected in early May and business inventories increased by their biggest clip in nearly a year in March, while the producer price index (PPI) rose less than forecast last month.
Stocks are also being pressured by a dollar-induced drop in oil prices -- with June-dated crude futures last seen 0.9% lower at $46.26 per barrel -- and lackluster earnings from retailers. However, a bounce in tech stocks, including
Apple Inc. (NASDAQ:AAPL), has the
Nasdaq Composite (COMP) bucking the trend lower.
Continue reading for more on today's market -- and don't miss:
Among the stocks with unusual put volume today is
Target Corporation (NYSE:TGT), with the contracts running at 14 times the expected intraday rate. Buy-to-open activity is detected at the May 70 and 74 puts, as well as the June 67.50 put -- TGT's three most active options today -- ahead of next Wednesday morning's
earnings report. The retail stock was most recently seen 1.4% lower at $74.51.
The worst stock on the Nasdaq today is
ConforMIS Inc (NASDAQ:CFMS), fresh off a
bleak outlook and executive shake-up. At last check, the medical tech stock is down 51.5% at $4.90, and earlier panned a record low of $4.80.
The
CBOE Volatility Index (VIX) is down 0.2 point, or 1.7%, at 14.17
Today's put/call volume ratio on the
SPDR S&P 500 ETF Trust (SPY) is 1.63, with puts nearly doubling calls. At last check, SPY has shed 0.2 point, or 0.1%, at $206.38.
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