The DJIA is looking for its first positive outcome in five days
The Dow Jones Industrial Average (DJIA) is moving higher this afternoon, even as media heavyweight Walt Disney Co (NYSE:DIS) absorbs heavy losses after its earnings release. Conversely, Apple Inc. (NASDAQ:AAPL) has pared most of yesterday's drop, despite some ugly analyst attention. This, along with yet another all-time high from Netflix, Inc. (NASDAQ:NFLX), is contributing to a 1.2% lead for the Nasdaq Composite (COMP). Aside from earnings, traders were pleased to see the ADP employment report -- a precursor to Friday's nonfarm payrolls report -- miss estimates, hoping the lukewarm data could push back a rate hike. Echoing this, Fed Governor Jerome Powell said that unlike Atlanta Fed President Dennis Lockhart, he's not sure if he supports a September rate hike.
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Among the stocks with notable options activity is Sealed Air Corp (NYSE:SEE), with both calls and puts crossing at 17 times the amount expected. The food packaging stock is 1.7% higher at $54.94 -- and earlier hit a record high of $55.25 -- after the company yesterday announced it's acquiring B+ Equipment.
One of the top gainers on the Nasdaq is Arrowhead Research Corp (NASDAQ:ARWR), thanks to better-than-anticipated fiscal third-quarter numbers. Shares of the drugmaker are 15.3% higher today at $6.95, but that still puts them a ways from their annual high of $17.42 from last September.
One of the top losers on the Nasdaq is Etsy Inc (NASDAQ:ETSY), after a disappointing second-ever trip to the earnings confessional. The company not only netted another quarterly loss, but warned investors of additional troubles in the future. The crafts marketplace stock is now 21.7% lower at $15.05 -- below its IPO price.
The CBOE Volatility Index (VIX) is 1.1 points, or 8.1%, lower, and earlier hit an annual low of 10.88.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.72, with puts almost doubling calls. The SPY was 1.7 points, or 0.8%, higher at $211.10 at last check.