The DJIA is on track for a second straight triple-digit win, fueled by yesterday's Fed decision and red-hot crude oil
On the heels of
Wednesday's huge win, the
Dow Jones Industrial Average (DJIA) is again up triple digits on
Fed tailwinds, while the
Nasdaq Composite (COMP) is fresh off an all-time high. A rally in crude oil prices is also fueling the upward momentum among stocks, as November-dated crude futures are nearly 2% higher at $46.22 per barrel. Meanwhile, traders are digesting a raft of
earnings reports and economic data, including an unexpected drop in August existing home sales and an 81st consecutive week of fewer than 300,000 initial jobless claims -- the longest streak in over four decades.
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Among the stocks with unusual call volume at midday is the United States Oil Fund LP (ETF) (USO), as the contracts are running at 12 times the normal intraday clip. With the exchange-traded fund (ETF) up 1.4% at $10.56 ahead of next week's key Organization of the Petroleum Exporting Countries (OPEC) meeting, it appears some traders are closing out their short October 11.50 calls -- as International Securities Exchange (ISE) data confirms nearly 40,000 contracts have been bought to close.
One of the top stocks on the New York Stock Exchange is Red Hat Inc (NYSE:RHT), fresh off a roundly applauded earnings report. At last check, the tech stock has advanced 4.8% at $80.75.
Among the worst performers on the Nasdaq is
Jabil Circuit, Inc. (NYSE:JBL), fresh off a steep drop in quarterly earnings and some
mixed analyst attention. Currently, shares of the AAPL supplier are down 5.2% at $22.49.
The
CBOE Volatility Index (VIX) is down 1 point, or 7.7%, at 12.27.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.29, with puts outstripping calls. SPY was last seen 1.3 points, or 0.6%, higher at $217.10.
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