The DJIA has muscled higher, even as policy decisions loom in the U.S. and Japan
The
Dow Jones Industrial Average (DJIA) is trading solidly higher, as stocks rally amid the
kickoff of policy meetings at the Fed and Bank of Japan (BoJ). As Wall Street awaits decisions on interest rates, the housing sector is
struggling on downbeat data, while consumer staples and biotech stocks are outperforming. Meanwhile, traders are keeping an eye trained on oil prices, which have bounced back into positive territory after earlier losses -- with October-dated crude futures last seen 1.6% higher at $43.98 per barrel.
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Among the stocks with unusual put volume at midday is Fifth Third Bancorp (NASDAQ:FITB), as the contracts are running at 18 times the normal intraday pace. From the looks of it, buy-to-open activity is detected at the October 18 strike. The stock is modestly higher, though, up 0.4% at $20.70.
The biggest loser on the Nasdaq at midday is Ascena Retail Group Inc (NASDAQ:ASNA), down 27.4% at $5.90, following an earnings miss and a barrage of bearish analyst notes. Earlier, in fact, the retail stock touched a seven-year low of $5.80.
One of the worst performers on the New York Stock Exchange is
Community Health Systems (NYSE:CYH). Shares of the hospital operator have tanked 4.5% at $10.60, following
reports of a potential asset sale.
The
CBOE Volatility Index (VIX) is flat at 15.53.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.79, with puts nearly doubling calls. Currently, SPY is up 0.5 point, or 0.3%, at $213.95.
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