The DJIA is trading in a relatively tight range ahead of this afternoon's speech from Fed Chair Janet Yellen
The
Dow Jones Industrial Average (DJIA) has traded in a relatively tight range so far today, ahead of this afternoon's highly anticipated speech from Fed Chair Janet Yellen and
the long Memorial Day weekend. Yellen's 1:15 p.m. ET speech at Harvard University will follow this morning's
mixed reading on first-quarter gross domestic product (GDP) and a steeper-than-expected decline in consumer sentiment. At last check, though, the Dow was in the green -- as stocks disregard a 0.7% drop in July-dated oil prices to $49.15 per barrel -- and is comfortably on pace to snap its
worst weekly losing streak in two years.
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Among the stocks with unusual options volume is
Palo Alto Networks Inc (NYSE:PANW), with the contracts crossing at eight times the average intraday pace. The stock is down 12.4% at $129.79, after the cybersecurity firm's dreary guidance was met with
backlash from the brokerage bunch. Some eleventh-hour options traders are eyeing more downside through tonight's close, with buy-to-open activity detected at PANW's weekly 5/27 128-strike put.
Big Lots, Inc. (NYSE:BIG) is one of the leading advancers on the New York Stock Exchange (NYSE), after the retailer
defied the odds in the earnings confessional. At last check, BIG was up 10.3% at $49.26 -- and fresh off an annual high of $50.50 -- but running out of steam near the half-century mark, an area that's contained the stock since late 2014.
Cliffs Natural Resources Inc (NYSE:CLF) is one of the biggest decliners on the NYSE, down 7.4% at $3.08. This negative price action is
just more of the same for mining stock, considering it's shed 47% since hitting an annual high of $5.83 in late April.
The
CBOE Volatility Index (VIX) is down 0.1 point, or 0.7%, at 13.34.
Today's put/call volume ratio on the
SPDR S&P 500 ETF Trust (SPY) is 1.16, with puts having the edge over calls amid a relatively low-volume session. SPY is up 0.4 point, or 0.2%, at $209.75.
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