Dow Jones Industrial Average Closes In On Monthly Gain

Will Fitbit "Dominate" the Holiday Season?

Nov 30, 2015 at 12:03 PM
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While Cyber Monday is generating a lot of buzz -- and wreaking havoc on retail websites -- the impact hasn't been felt on the Dow Jones Industrial Average (DJIA), which was last seen modestly lower. Nonetheless, the blue-chip barometer -- as well as the broader S&P 500 Index (SPX) and tech-centric Nasdaq Composite (COMP) -- remains on track to post a monthly gain.

Meanwhile, traders are digesting a sharp drop in the Chicago purchasing managers index (PMI), and a weaker-than-forecast rise in pending home sales, ahead of Friday's nonfarm payrolls report. Also, crude futures are rallying ahead of the Organization of the Petroleum Exporting Countries' (OPEC) Friday meeting, with the January contract up 1.5% at $42.35 per barrel.

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Among the stocks with notable option activity is tech issue Infoblox Inc (NYSE:BLOX), as puts are trading at 113 times the expected intraday clip (though the stock is no stranger to bearish attention). At last check, the stock is off 0.9% at $14.84 ahead of tonight's earnings report. The most active BLOX strike is the December 15 put, where nearly 3,300 contracts are on the tape.

Among the noteworthy losers on the Nasdaq is Sohu.com Inc (NASDAQ:SOHU), down 5.1% at $48.92 due to a bearish note from Goldman Sachs -- which weighed in on several China-based Internet stocks. Specifically, the brokerage dropped its rating on SOHU to "sell" from "neutral," and cut its price target to $48.

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One of the biggest gainers on the Nasdaq is biopharmaceutical company Anavex Life Sciences Corp. (NASDAQ:AVXL), up 32% at $7.91. Boosting the stock is an encouraging study on its ANAVEX 3-71 drug, which was found to "enhance neuroprotection and cognition" in Alzheimer's disease models -- and may be close to its first human clinical trial.

The CBOE Volatility Index (VIX) is up 1.3 points, or 8.9%, at 16.46. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.95, with puts nearly doubling calls. At last check, SPY is off 0.4% at $208.77.

 

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