Dow Jones Industrial Average Eyes Another Win After Dovish Draghi

Could This VIX Pop Outlast the Financial Crisis? Plus, Musk's Big Tweet

by Josh Selway

Published on Sep 3, 2015 at 12:02 PM

With markets closed in China, the Dow Jones Industrial Average (DJIA) is instead tracking its European counterparts to the upside. Stocks in Europe shot higher after the European Central Bank (ECB) opted to maintain the current level for interest rates, and after dovish comments from ECB President Mario Draghi. On the home front, Wall Street is weighing a mostly encouraging round of data, as well as a jump in energy prices. Against this backdrop, the Dow boasts a triple-digit lead, and at its intraday high was out of correction territory

 

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

 

 

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Among the stocks with notable call volume is Intel Corporation (NASDAQ:INTC), as the contracts change hands at twice the expected pace -- bucking the recent trend. Traders might be betting on extended gains from the tech giant, which is 2.6% higher today at $29.33, and set to close above its 10-week moving average for the first time since June. 

 

One of the top gainers on the Big Board is Lannett Company, Inc. (NYSE:LCI). The stock has added 15% to $56.92, after this morning's M&A news sparked a pair of price-target hikes. Shares of the drugmaker have now added over 32% in 2015. 

 

Conversely, one of the top losers on the NYSE is mining firm Joy Global Inc. (NYSE:JOY), after the company's disappointing guidance. The equity was last seen down 16.4% at $18.50, and earlier hit a six-year low of $17.70. 

 

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The CBOE Volatility Index (VIX) is down 1.8 points, or 6.7%, as it nears its rising 20-day moving average. 

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.76, as puts continue to outnumber calls. The SPY was last seen 2.3 points, or 1.2%, higher at $197.76.


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