Dow Jones Industrial Average Flirts with Triple-Digit Lead

The blue-chip index is paving a path higher

by Josh Selway

Published on Apr 7, 2015 at 11:55 AM
Updated on Apr 20, 2015 at 5:32 PM

The Dow Jones Industrial Average (DJIA) has been steadily moving higher today, with the S&P 500 Index (SPX) and Nasdaq Composite (COMP) each sporting solid gains, as well. The economic calendar is relatively bare -- save for the Job Openings and Labor Turnover Survey (JOLTS), which revealed a slight increase in job openings in February -- with most headlines going to FedEx Corporation (NYSE:FDX) after it purchased an overseas rival. Looking at commodities, crude is gaining once again, while gold has fallen sharply.

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

Midday Market Stats

Among the stocks with notable put activity is athenahealth, Inc (NASDAQ:ATHN), with the contracts crossing at a stunning pace of 40 times what's normally seen around midday. The most popular contract is the weekly 4/10 113-strike put, which may be seeing sell-to-open activity. The shares were 4.1% lower at $117.12 at last check.

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

Ocwen Financial Corp (NYSE:OCN) is among the leading gainers on the Big Board, adding 10.9% to trade at $9.24, after the company yesterday agreed to a multi-year extension with New Residential Investment Corp (NYSE:NRZ). Even with today's surge, OCN sits 38.8% below breakeven in 2015.

As for losers on the Big Board, investment banking stock Evercore Partners Inc. (NYSE:EVR) is one of the biggest today. The shares have fallen 4.7% to $47.24, after UBS cut its rating on the security to "neutral" from "buy," and slashed its price target to $49 from $58, citing a weak pipeline. With the plunge, EVR has dropped 20.5% since touching an annual high of $59.43 in mid-May.

Hourly Chart of EVR since Monday, March 30

The CBOE Volatility Index (VIX) is down 0.4 point, or 2.7%, at 14.35.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.81, with puts outnumbering calls. SPY was last seen up 0.6 point, or 0.3%, at $208.42.


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