The DJIA is sitting on a triple-digit loss, as traders eagerly await the release of the latest Fed minutes
The Dow Jones Industrial Average (DJIA) is getting shelled ahead of this afternoon's Fed meeting minutes, down triple digits -- though the event could be a boon a little down the road. Also pressuring U.S. equities lower was some rough action overseas, and a brutal morning for crude oil, which hit another six-year low on a surprise pop in inventories. On the economic front, consumer prices rose for a sixth consecutive month -- though by less than expected -- despite a surge in housing costs. Meanwhile, the Nasdaq Composite (COMP) is testing the 5,000 millennium level, the broader S&P 500 Index (SPX) is drifting further below 2,100, and the Russell 2000 Index (RUT) is about to breach key support.
Continue reading for more on today's market -- and don't miss:
Among the stocks with notable call volume is Target Corporation (NYSE:TGT), where calls are running at eight times the usual midday clip. The shares gapped up at the open on strong earnings and an upbeat full-year profit outlook, but are currently 0.9% lower at $79.60. Short-term options traders anticipate TGT will resume its rally, buying to open the weekly 9/4 85-strike call.
One of the biggest decliners on the Nasdaq is Web.com Group Inc (NASDAQ:WWWW), which has plunged almost 11% to trade at $21.18. Pressuring shares of the domain name registry are a recent data breach and some negative analyst attention.
The top gainer on the Big Board is
Arch Coal Inc (NYSE:ACI), on reports the commodity concern is looking to
compromise with lenders opposed to a debt-swap -- which could allow ACI to avoid bankruptcy. At last check, the stock has jumped 41.3% to hover near $2.08, but is still 88% lower year-to-date.
The CBOE Volatility Index (VIX) is up 2.2 points, or 15.7%, at 15.95.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.14, with puts more than doubling calls. At last check, SPY is down 2.3 points, or 1.1%, at $207.63.