Dow Jones Industrial Average Up Triple Digits, as Oil, Dollar Sink

U.S. stocks shot higher out of the gate, with the Dow Jones Industrial Average (INDEXDJX:DJI) boasting triple-digit gains around midday. Looking elsewhere, the S&P 500 Index (SPX) and Nasdaq Composite (COMP) are both comfortably in the black on the day, while oil flirts with six-year-low territory and the dollar reverses lower. On the economic front, traders are gearing up for the Federal Open Market Committee (FOMC) policy meeting -- which kicks off tomorrow -- and are also digesting weaker-than-expected industrial production numbers and a drop in homebuilder confidence.

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

• Tesla Motors Inc (NASDAQ:TSLA) gains after CEO Elon Musk's announcement, while rival Kandi Technologies Group Inc (NASDAQ:KNDI) is booming on strong 2014 numbers.
• Schaeffer's contributor Adam Warner wonders whether the strengthening U.S. dollar is really signaling anything at all.
• Plus ... Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and other noteworthy stats at midday.

Among the stocks with notable put volume is Avon Products, Inc. (NYSE:AVP), with the contracts crossing at 19 times what's expected at this point in the day. Seeing the most attention is the July 5 put, with data suggesting new positions are being sold. At last check, the shares were down 3.6% at $7.44, following news AVP will be replaced on the SPX by Hanesbrands Inc. (NYSE:HBI).

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

TravelCenters of America LLC (NYSE:TA) is the among the biggest gainers on the Big Board, after seeing its price target hiked by Stephens (to $17) and Craig-Hallum (to $20). The shares have added 6% to trade at $15.63 -- and earlier hit a multi-year high of $15.74. TA is now up roughly 24% year-to-date.

iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY) is the biggest loser on the Nasdaq today, dropping one-fifth of its value to hit $8.62, after falling to an all-time low of $8.28 earlier. The decline comes after the company's revenue estimate for the fourth quarter were lower than expected. The security has lost nearly half of its value in 2015.

The CBOE Volatility Index (VIX) has lost 0.3, or 2.1%, at 15.76, falling back below 16.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.02, with puts doubling calls. SPY was last seen 2.1 points, or 1%, higher at $207.90.