Dow Jones Industrial Average Set for 3rd Straight Win; All Eyes on Fed

3 Stocks on the Brink of a Breakout; Plus, GoPro's New Low

Nov 18, 2015 at 12:03 PM
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The Dow Jones Industrial Average (DJIA) is eyeing a third consecutive daily win at midday, last seen up triple digits amid an Apple Inc. (NASDAQ:AAPL) rally and a rebound in oil prices. Specifically, liquid gold has bounced on a smaller-than-expected rise in U.S. stockpiles, overshadowing an 11% month-over-month drop in housing starts. That said, all eyes are now fixed on this afternoon's release of the latest Fed meeting minutes at 2 p.m. ET, as Wall Street seeks out possible rate-hike clues. Meanwhile, the S&P 500 Index (SPX) has muscled its way into positive 2015 territory, and the tech-heavy Nasdaq Composite (COMP) is once again north of 5,000.

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Among the stocks with notable option volume is retail giant Target Corporation (NYSE:TGT), with the contracts running at six times the average midday pace. Currently, the shares are down 6.2% at $68.40, in the wake of a poorly received earnings report -- continuing what's become a trend for retailers. Among the most active TGT strikes is the November 70 put, where traders are buying to close losing positions, according to International Securities Exchange (ISE) data.

Among the top gainers on the Nasdaq is Fairchild Semiconductor Intl Inc (NASDAQ:FCS), after the chipmaker agreed to be acquired by ON Semiconductor Corp (NASDAQ:ON). At last check, the stock is up 8.7% at $19.44.

One of the leading gainers on the Big Board is solar issue Sunedison Inc (NYSE:SUNE), which is bouncing back from a series of lackluster daily performances. The shares were last seen 7.3% higher at $3.24, after earlier touching a new three-year low of $2.71.

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The CBOE Volatility Index (VIX) is down nearly 1 point, or 5.1%, at 17.88.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.62, with puts easily outstripping calls. At last check, SPY is up 1.5 points, or 0.7%, at $206.92.

 

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