The DJIA is up triple digits as traders continue to consider the rate-hike implications of Friday's nonfarm payrolls report
Ahead of Thursday night's
earnings-season kickoff, the
Dow Jones Industrial Average (DJIA) is on fire as
rate-hike fears wane in the aftermath of Friday's
downbeat payrolls report. In fact, the possibility the Fed may delay liftoff until 2016 sparked a
strong performance overseas, as well. On the economic front, the Institute for Supply Management's (ISM) services index cooled more than expected in September. In any case, the Dow's jump has the benchmark officially out of correction territory, while the
Nasdaq Composite (COMP) is back in the black on a year-to-date basis.
Elsewhere, a pair of central bank heavyweights weighed in on the prospects of a 2015 rate hike. Specifically, Boston Fed President Eric Rosengren said it remains possibility -- if Friday's report proves "anomalous" -- while former Fed Chair Ben Bernanke warned higher rates could strengthen the dollar and "kill U.S. exports."
Continue reading for more on today's market -- and don't miss:
Among the stocks with notable call volume is
Bed Bath & Beyond Inc. (NASDAQ:BBBY), with the contracts crossing at 15 times the intraday norm. Digging deeper, traders are betting on end-of-week upside, buying to open the weekly 10/9 58.50- and 59-strike calls. On the charts, BBBY is up 1.9% at $58.48, helped by unconfirmed takeover chatter.
One of the biggest advancers on the Nasdaq is gene therapy specialist
Spark Therapeutics Inc (NASDAQ:ONCE), up 25% at $54.89. Buoying the equity are
positive results from a late-stage trial.
One of the top gainers on the Big Board is
SandRidge Energy Inc. (NYSE:SD), as the oil-and-gas firm agreed to
buy compression company Pinon Gathering Co LLC for $48 million in cash. At last check, SD has spiked 12.8% to trade at $0.40.
The CBOE Volatility Index (VIX) is down 1.5 points, or 7.3%, at 19.41.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.27, with puts outstripping calls. SPY was last seen up 2.7 points, or 1.4%, at $197.74.