Dow Jones Industrial Average Treks Higher; Fed, Yellen Up Next

What to Expect From Stocks After the Fed Decision

Sep 21, 2016 at 11:45 AM
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The Dow Jones Industrial Average (DJIA) is sitting solidly higher, as Wall Street gears up for this afternoon's Federal Open Market Committee (FOMC) policy decision -- though an interest rate hike is considered unlikely -- and a subsequent speech by Fed Chair Janet Yellen. Stocks are also reacting favorably to the Bank of Japan's (BoJ) latest policy changes, as well as a bounce in crude oil prices. At last check, November-dated crude futures are 2.3% higher at $45.07 per barrel, after the Energy Information Administration (EIA) reported a surprise drop in weekly inventories.

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

midday market stats september 21

Among the stocks with unusual call volume at midday is Juniper Networks, Inc. (NYSE:JNPR), as the contracts are crossing at 24 times the usual intraday clip. So far, the near-the-money October 24 call is the most active strike, and has seen at least some buy-to-open activity, per data from the International Securities Exchange (ISE). JNPR stock is 5% higher at $23.57.

The biggest loser on the New York Stock Exchange is Skechers USA Inc (NYSE:SKX), down 8.4% at $21.28. Shares of the shoe designer are falling victim to a bearish analyst note, and earlier touched an annual low of $20.90.

skx daily september 21

One of the worst stocks on the Nasdaq is Airgain Inc (NASDAQ:AIRG), down 6% at $15.16. The stock is stumbling after the antenna company's earnings report was met with mixed analyst attention.

The CBOE Volatility Index (VIX) is off 1 point, or 6.3%, at 14.92.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.20, with puts edging out calls. At last check, the SPY is up 0.6 point, or 0.3%, at $214.06.

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


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