Dow Jones Industrial Average Heads South; Manufacturing Data in Focus

2 Monster Commodity Bets

Sep 23, 2015 at 12:05 PM
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Despite signaling a higher open and a few valiant attempts to break north, the Dow Jones Industrial Average (DJIA) is down triple digits at the halfway point. Traders are digesting lackluster manufacturing data at home, as well as a discouraging manufacturing report out of China, which sparked a sell-off in equities throughout Asia. In other economic news, domestic crude inventories retreated last week, though oil futures have given up early gains. Aside from this, traders are also considering comments by European Central Bank President (ECB) Mario Draghi, who said inflation is rising slower than expected. 

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Among the stocks with notable call activity is Vale SA (ADR) (NYSE:VALE). The mining stock is taking a hit today, falling 0.7% to $4.74, after the firm announced plans to cut production costs. Still, calls are crossing at 1.7 times the normal pace, with the October 5 strike coming in as the most popular contract. 


One of the leading gainers on the Nasdaq is Heron Therapeutics Inc (NASDAQ:HRTX). The drugmaker has surged 19.1% to $39.98, and earlier hit a five-year high of $42.25, thanks to some positive drug study results

One of the top losers on the Nasdaq is software firm Synchronoss Technologies, Inc. (NASDAQ:SNCR). The shares have plummeted 14.2% to $32.10, after hitting an annual low of $27.86, but the reason for the sell-off is still unclear. SNCR was already down 10.7% in 2015 coming into today. 


The CBOE Volatility Index (VIX) has edged 0.1 point, or 0.3%, higher, as it looks to push above its 10-day moving average. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.23, with puts outnumbering calls. The SPY was last seen 0.8 point, or 0.4%, lower at $193.19.



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