Dow Jones Industrial Average Falls 377 as Microsoft Plunges

Durable goods orders unexpectedly dropped in December

by Alex Eppstein

Published on Jan 27, 2015 at 11:31 AM
Updated on Apr 20, 2015 at 5:32 PM

The Dow Jones Industrial Average (INDEXDJX:DJI) is getting crushed at midday, down roughly 377 points, or 2.1%, on a spate of disappointing earnings reports. Another factor in the broad-market woes is the latest report on durable goods orders, which unexpectedly fell last month -- though the consumer confidence index reached its highest level in more than seven years, and new home sales beat the consensus estimate. Looking ahead, Apple Inc. (NASDAQ:AAPL) is among the big names set to report quarterly results tonight.

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

Midday Market Stats

Among the stocks with notable call volume is motorcycle icon Harley-Davidson Inc (NYSE:HOG), with the contracts crossing at 17 times the usual intraday rate. Digging deeper, buy-to-open activity is detected at the equity's at-the-money February 62.50 call -- which is HOG's most active option. On the charts, meanwhile, the shares have stumbled 3.6% to hover near $62.50.

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

Blue chip Caterpillar Inc. (NYSE:CAT) is among the leading losers on the Big Board, following a fourth-quarter earnings miss and reduced forward guidance. At last check, the shares were 7.5% lower at $79.57, and fresh off a two-year low of $79.16.

Daily Chart of CAT Since August 2014

Implantable lens maker STAAR Surgical Company (NASDAQ:STAA) is by far the biggest decliner on the Nasdaq, dropping roughly 30% to trade at $5.16. Earlier, the shares tanked to a three-year low of $4.84, after the company lowered its fourth-quarter revenue outlook.

The CBOE Volatility Index (VIX) is up 2.8 points, or 18.1%, at 18.33.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.89, with puts nearly doubling calls. At last check, SPY is 1.7% lower at $201.96.


A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Huge New Legal Marijuana Market Has Shortage Crisis
250 million Europeans have access to medical marijuana. There's already a shortage....
Tiffany Stock Drops as Takeover Talks Dissipate
LVMH was to acquire Tiffany & Co in a billion-dollar deal
Coty Stock Glows Up with Possible Kardashian Cosmetics Line
The trendy cosmetics company is in talks with reality TV star Kim Kardashian West over a line of beauty products
The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.