Dow Jones Industrial Average Hems and Haws as Street Awaits Yellen

3 Sectors Ripe for Post-Fed Volatility

Sep 17, 2015 at 12:00 PM
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The Dow Jones Industrial Average (DJIA) has traded in a narrow 67-point range (and was last seen slightly higher), as Wall Street treads carefully heading into this afternoon's highly anticipated Fed decision. While concerns about a possible rate-hike announcement are front and center, traders are also digesting a surprise drop in weekly jobless claims -- to their lowest level since mid-July -- and an unexpected contraction in mid-Atlantic factory activity. Meanwhile, although housing starts fell more than expected last month, building permits bounced back after a sharp decline in July.

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Among the stocks with notable put volume is Oracle Corporation (NYSE:ORCL), as the contracts are running at 16 times the intraday norm -- with the September 36 strike leading the way. The enterprise software stock is currently down 3.5% at $36.94, following the company's mixed turn in the earnings confessional and a subsequent round of bearish brokerage attention.


One of the leading gainers on the Big Board -- for the second straight day -- is Fitbit Inc (NYSE:FIT), up 5.1% at $39. However, shares of the fitness device maker have still lost one-quarter of their value, relative to their early August record high of $51.90.

The top performer on the Nasdaq is Aerie Pharmaceuticals Inc (NASDAQ:AERI), following upbeat trial results. At last check, the stock is nearly 67% higher at $30.02, and exploring territory not charted since its late-April bear gap.


The CBOE Volatility Index (VIX) is up 0.2 point, or 0.8%, at 21.52.


Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 0.87, with calls having a rare edge over puts. At last check, SPY is up 0.3 point, or 0.1%, at $200.43.



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