Dow Jones Industrial Average Up 244 Points; Nasdaq Back in Black for 2015

Dow Up 244; Plus, What's Behind the GE Jolt?

by Karee Venema

Published on Sep 8, 2015 at 11:58 AM
Updated on Sep 8, 2015 at 12:05 PM

Traders have returned from the long holiday weekend in an upbeat mood -- brushing off last week's dismal price action, and sending the Dow Jones Industrial Average (DJIA) up more than 244 points. Specifically, speculation China could unleash a new round of stimulus measures following disappointing trade data has bulls champing at the bit, with the S&P 500 Index (SPX) and Nasdaq Composite (COMP) enjoying big gains at midday, as well. In fact, the former has pared its monthly deficit -- a critical number to watch --  to 1.2%, while the latter has moved back above its year-to-date breakeven mark.


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





Among the stocks with notable put volume is Urban Outfitters, Inc. (NASDAQ:URBN), with the contracts crossing the tape at eight times the average intraday pace. The stock has been trending lower since hitting a record high of $47.25 in mid-March, down 34.5% at $30.95. It appears some of today's speculators are betting on the struggle to continue, with the International Securities Exchange (ISE) confirming buy-to-open activity at the retailer's September 31 put.


One of the losers on the Nasdaq is microblogging site Twitter Inc (NYSE:TWTR). Moffett Nathanson weighed in on a number of names today, and for TWTR, this resulted in a lackluster "neutral" rating and $30 price target. At last check, the stock is off 2.1% at $27.57.


One of the top gainers on the Big Board is Fitbit Inc (NYSE:FIT). Shares of the wearable device maker are up 8.1% at $34.61 -- and on pace to close north of their 10-day moving average for the first time since Aug. 17 -- after Morgan Stanley waxed optimistic on FIT.




The CBOE Volatility Index (VIX) is down 1.9 point, or 6.9%, at 25.88.


Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.48, with puts outpacing calls. SPY is up 3.2 points, or 1.6%, at $195.74.

A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!



NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories

The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.
Wall Street Roars Higher Amid Civil Unrest
Investors weighed a mixed bag of jobs data
AstraZeneca Stock Flat Despite COVID-19 Vaccine News
AstraZeneca saw a rise in capacity for its COVID-19 vaccine candidate
The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.