Dow Jones Industrial Average Backs Off 18K After Greece Bailout Bust

Uninspiring data on the home front has done little to boost traders' appetite for risk

Feb 17, 2015 at 11:27 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) is backing down from 18,000, as stocks stage a modest retreat in the wake of a Greece bailout bust. The debt-strapped country's talks with creditors broke down yesterday, sparking a sell-off in Greek assets ahead of the current bailout program's expiration at the end of the month. Stateside, meanwhile, lackluster data on homebuilder confidence and New York-area manufacturing is also weighing on sentiment, with the Dow last seen 38 points lower, and the S&P 500 Index (SPX) retreating from record highs, down 3.1 points.

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

Midday Market Stats

Among the stocks with notable option volume is cybersecurity firm Cyberark Software Ltd (NASDAQ:CYBR), which is extending its post-earnings quest for record highs, with help from a price-target boost to $48 from $34 at Imperial Capital. Overall option volume is running at nine times the typical intraday clip, with buy-to-open activity detected at the February 60 call. These calls will move into the money if CYBR topples $60 by Friday's close, when the options expire. After touching an all-time peak of $57.39 in early trading, the stock was last seen 8.2% higher at $56.82.

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

China-based online retailer Vipshop Holdings Ltd - ADR (NYSE:VIPS) is one of the biggest advancers on the Big Board, up 11.7% at $24.35, after the firm unveiled solid earnings and upbeat current-quarter guidance. The stock now boasts a year-to-date gain of nearly 25%, and is dawdling just beneath its all-time high of $24.80, tagged in mid-November.

Weekly Chart of VIPS since February 2014

Offshore energy company Helix Energy Solutions Group Inc (NYSE:HLX) is the biggest loser on the Big Board, down 16.7% at $15.89. The security earlier touched a two-year low of $15.58, as traders react to weaker-than-expected fourth-quarter earnings.

The CBOE Volatility Index (VIX) is up 1.2 points, or 8.4%, but is struggling to surmount the 16 level -- home to its formerly supportive 80-day moving average.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 3.97, with puts nearly quadrupling calls. At last check, SPY is down 0.2 point, or 0.1%, at $209.58.

 

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