The DJIA is modestly higher amid light volume
The
Dow Jones Industrial Average (DJIA) struggled for direction early on, but was last seen modestly higher, attempting to
notch its seventh straight gain. Activity has been relatively light on Columbus Day, but should pick up tomorrow, with
three Dow components set to report. The Street will also be monitoring speeches from
several Fed officials throughout the day. Elsewhere, crude is slipping, after the Organization of the Petroleum Exporting Countries (OPEC) said output rose in September.
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Among the stocks with notable put volume is
Merck & Co., Inc. (NYSE:MRK). The contracts are crossing at 1.3 times the normal midday pace. It looks like traders are taking an intermediate-term approach, buying to open the stock's January 2016 55-strike put. Shares of the healthcare firm are 1.5% lower at $50.21, following some
bearish analyst attention and
bad news for its sector peer.
One of the top gainers on the Nasdaq is
Aquinox Pharmaceuticals Inc (NASDAQ:AQXP). The pharma name is 15% higher at $14.83, thanks to a price-target hike to $24 at Cowen and Company. The stock was already up 130% year-over-year coming into today, thanks to a
mid-August bull gap.
Among the biggest losers on the Big Board is
Lumber Liquidators Holdings Inc (NYSE:LL), as the shares have fallen 8.7% to $17.21. This is a major reversal from Friday's action, when the flooring name surged on news it
reached a settlement with the Department of Justice.
The CBOE Volatility Index (VIX) is off 0.5 point, or 2.9%, as it will look to avoid closing below its 10-week moving average for the third straight week.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.60, with puts outnumbering calls. SPY was last seen 0.2 point, 0.1%, lower at $201.12.