Dow Jones Industrial Average Flat; S&P, Small-Caps Notch Milestones

The SPX and RUT have reached record highs once again

Dec 29, 2014 at 11:36 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) is little changed around midday, up just over 11 points, as concerns about Greece's presidential election have slowed the index's recent momentum. However, the news wasn't enough to stop the S&P 500 Index (SPX) and Russell 2000 Index (RUT) from hitting their latest all-time highs of 2,093.46 and 1,220.81, respectively. On the economic front, today's lone data point was disappointing, as the Dallas Fed manufacturing survey fell by a wider-than-expected margin in December, hurt by the ongoing downturn in energy. Today, however, energy stocks are among the Street's best performers, thanks to a rebound in oil.

Continue reading for more on today's market -- and don't miss:

Midday Market Stats

Among the stocks with notable put volume is drugmaker Raptor Pharmaceutical Corp. (NASDAQ:RPTP). The stock is up 8.2% at $10.42, and put volume has shot to 29 times the intraday norm. Digging deeper, traders appear to be initiating positions at the May 10 put, banking on either a long-term retreat or technical floor.

For more midday statistics and stocks on the move, head to page 2.

Machinery manufacturer Manitowoc Company (NYSE:MTW) is among the biggest advancers on the Big Board -- up 9.3% at $22.87 amid Carl Icahn's call for the company to split in two. The gap higher has the shares poised to close above their 100-day moving average (lodged at $22.76) for the first time since early September.

Daily Chart of MTW Since August 2014 with 100-Day Moving Average

Video-processing chipmaker Ambarella Inc (NASDAQ:AMBA) is having a rare down day -- tumbling 5.4% to $52.95, thanks to an early morning downgrade. This makes it one of the biggest losers on the Nasdaq. Nevertheless, the shares remain more than 56% higher on a year-to-date basis.

The CBOE Volatility Index (VIX) is up 0.8 point, or 5.7%, at 15.32. However, it looks like the 20-day moving average, at 16.18, is containing the "fear gauge's" intraday upside.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.11, with puts having a slight edge over calls. At last check, SPY is up 0.2 point, or 0.5%, at $208.90.

 

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