Dow Jones Industrial Average Battles Breakeven Ahead of Fed Minutes

The blue-chip index is clinging to modest gains amid an up-and-down session

by Josh Selway

Published on Apr 8, 2015 at 11:50 AM
Updated on Apr 20, 2015 at 5:32 PM

The Dow Jones Industrial Average (DJIA) is sitting just above breakeven around midday, after giving back some of its early gains. Investor attention remains aimed at the 2 p.m. ET release of the minutes from the latest Federal Open Market Committee (FOMC) meeting, as well as the unofficial beginning of first-quarter earnings season. Elsewhere, crude prices have taken a turn to the downside, after it was reported domestic oil inventories rose more than expected.

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

Midday Market Stats

Among the stocks with notable call activity is ARM Holdings plc (ADR) (NASDAQ:ARMH), with the contracts crossing at a pace 40 times what's normally seen at this point in the day. Buy-to-open activity appears to be taking place at the April and May 55 calls. At last check, the shares were 2.8% higher at $50.34, as speculation swirls over a possible takeover bid.

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

Qihoo 360 Technology Co Ltd (NYSE:QIHU) is one of the leading gainers on the Big Board, adding 10.2% to trade at $59.50. The stock's advance could be related a cybersecurity deal that went down last night. Today's price action puts shares of the Chinese Internet company up 3.9% on the year.

TravelCenters of America LLC (NYSE:TA) is one of the biggest losers on the Big Board, dropping 4% to trade at $17. It's a rare sight for the convenience store stock, as it has outperformed the S&P 500 Index (SPX) by nearly 33 percentage points in the past three months.

Daily Chart of TA

The CBOE Volatility Index (VIX) has lost 0.7 point, or 4.4%, at 14.11.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.68, revealing a heavy skew toward puts over calls. SPY was last seen up 0.3 point, or 0.2%, at $207.62.


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