The DJIA was flirting with a triple-digit lead earlier, as traders weighed pre-Fed economic data and a rally in crude
After
a slow start, the
Dow Jones Industrial Average (DJIA) has turned north, and at one point was flirting with at triple-digit lead. It appears traders have brushed off
a pair of disappointing economic reports from overseas, and have focused instead on
the raft of domestic data points hitting the Street ahead of next week's
will-they-or-won't-they Fed meeting. Additionally, a pop in commodities has helped boost investor sentiment, with October-dated crude up 2% at $45.03 per barrel.
Continue reading for more on today's market -- and don't miss:
Among the stocks with notable put volume is electronic data storage specialist Seagate Technology PLC (NASDAQ:STX), with the contracts crossing the tape at three times the average intraday pace. The stock is down 1.6% at $49.31, after announcing a round of cost-cutting measures, and speculators appear to be buying to open STX's September 50 put.
One of the top gainers on the Big Board is cybersecurity firm Palo Alto Networks Inc (NYSE:PANW). The security has soared 8.1% to trade at $178.30, after its solid earnings report and outlook was met with applause from analysts. PANW has now extended its year-to-date lead to 45%, and appears poised to close above its 60-day moving average for the first time since Aug. 5.
Coffee and tea concern Farmer Brothers Co. (NASDAQ:FARM) is one of the leading advancers on the Nasdaq, up 25.2% at $26.67, after the company unveiled its fiscal fourth-quarter earnings last night. The shares could also be getting a boost from short sellers, considering short interest accounts for 8% of the equity's float -- or 11.4 days' worth of pent-up buying demand.
The CBOE Volatility Index (VIX) is down 0.1 point, or 0.5%, at 26.10.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.14, with puts more than doubling calls. SPY is up 0.2 point, or 0.1%, at $194.95.