Dow Jones Industrial Average Up Triple Digits on Oil, M&A News

The U.S. trade deficit expanded to a multi-year high

Feb 5, 2015 at 11:57 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) is surging amid a recovery in crude futures -- up 164.4 points, or 0.9% -- and is flirting with its year-to-date breakeven mark. Also fueling the risk-on approach is the latest unemployment report, which showed fewer first-time jobless claims than expected last week, and big acquisition news from Dow component Pfizer Inc. (NYSE:PFE). Elsewhere on the economic front, U.S. nonfarm productivity surprisingly dropped in the fourth quarter, while the national trade deficit rose to its highest level since 2012.

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

Midday Market Stats

Among the stocks with notable put volume is coffee giant Keurig Green Mountain Inc (NASDAQ:GMCR), which landed on the short-sale restricted list following this morning's post-earnings bear gap -- forcing traders to seek alternative avenues for betting bearishly. The contracts are crossing at nine times the expected intraday rate, with the most attention centered on the weekly 2/6 110-strike put. GMCR was down by as much as 10% earlier, but has since pared its deficit to 3.5%, at $116.97.

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

Generic drugmaker Hospira, Inc. (NYSE:HSP) is the biggest gainer on the Big Board, following PFE's $15 billion buyout. At last check, shares of the former are up more than 35% to trade at $87.55, after touching a record high of $87.73 earlier.

Daily Chart of HSP Since December 2014

Cloud concern E2open Inc (NASDAQ:EOPN) is leading the way on the Nasdaq, tacking on nearly 40% to hover around $8.53. The gap higher was prompted by news that the company will be acquired by Insight Venture Partners for roughly $273 million.

The CBOE Volatility Index (VIX) is off 1.6 points, or 8.5%, at 16.78.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.81, with puts easily outpacing calls. At last check, SPY is up 1.7 points, or 0.8%, at $205.72.

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