Dow Jones Industrial Average Up 139; Data, Tech Rally in Focus

The Stock Soaring After a Legal Win Over Apple

Sep 15, 2016 at 12:11 PM
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After a quick dip below breakeven, the Dow Jones Industrial Average (DJIA) has been rallying throughout the morning, adding triple digits after two days of losses. Traders have been weighing a deluge of economic data -- including lower weekly jobless claims and weak August retail sales -- ahead of next week's Fed meeting, and Apple Inc. (NASDAQ:AAPL) is leading a rally among tech stocks. Meanwhile, October-dated crude futures were last seen up 0.8% at $43.92 per barrel, though oil's rebound has been limited amid rising supplies in Nigeria and Libya.

Continue reading for more on today's market -- and don't miss:

Midday Market Stats September 15

Among the stocks with unusual options volume at midday is Goodyear Tire & Rubber Co (NASDAQ:GT). The company revealed a new growth plan and raised its dividend by 43% this morning, boosting the shares 5.2% to $32.43. GT calls are trading at three times the expected intraday rate, with roughly 9,000 on the tape so far. Most active today are the September 30, 31.50, and 32 calls, where speculators are largely closing their in-the-money positions ahead of tomorrow night's expiration.
Drugmaker bluebird bio Inc (NASDAQ:BLUE) is among the top performers on the Nasdaq at midday. The shares are up 5.7% at $66.50 after Goldman Sachs added BLUE to its "Conviction" list. The stock recently broke out of a sideways pattern with a big bounce off its 80-day moving average.

BLUE Daily Chart Sep 15

Among the Nasdaq's worst performers is alternative energy stock Solaredge Technologies Inc (NASDAQ:SEDG), last seen down 2.9% to $15.15. The solar sector took a hit on Wednesday, and today's continued slide had SEDG tapping a fresh all-time low of $15.00 earlier today, bringing its year-to-date loss to more than 46%.

The CBOE Volatility Index (VIX) is off 1.8 points, or 9.9%, at 16.24.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.32, with puts comfortably outnumbering calls. SPY was last seen up 1.3 points, or 0.6%, at $214.43.

Find out where the Dow lands right after the closing bell. Sign up now for Schaeffer's Market Recap


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