Dow Jones Industrial Average Loses Steam on Lackluster PMI

Twitter's Big Day; Plus, One Surging Cybersecurity Stock

Sep 23, 2016 at 12:01 PM
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The Dow Jones Industrial Average (DJIA) is down at midday, following a weaker-than-expected flash reading on the Markit purchasing managers index (PMI) -- echoing a trend witnessed across the pond. Nevertheless, the Dow is poised for a healthy weekly gain, as stocks soared Wednesday and Thursday in the wake of the Fed policy decision, which Boston Fed President Eric Rosengren said puts the U.S. economic recovery at "greater risk." As usual, Wall Street is also keeping one eye trained on oil, with November-dated crude futures last seen 1% lower at $45.86 per barrel -- despite Saudi Arabia's reported willingness to cut oil production if Iran agrees to cap output -- ahead of next week's meeting among global oil producers.

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

midday market stats september 23

Among the stocks with unusual put volume at midday is video game maker Electronic Arts Inc. (NASDAQ:EA), with the contracts running at double the usual intraday pace. The bulk of the action stems from a block of 2,000 weekly 11/4 77-strike puts, which may have been sold to open. EA was last seen 1% higher at $83.98, and fresh off a record high of $84.50.

One of the top stocks on the Nasdaq is Endo International plc - Ordinary Shares (NASDAQ:ENDP), following a C-suite shake-up and reaffirmed guidance. Shares of the drugmaker were last seen 14.5% higher at $23.20.

endp daily september 23

Among the poorest performers on the New York Stock Exchange is, inc. (NYSE:CRM), down 4.8% at $71.02. The cloud computing stock is slipping amid rumors it could be in the mix for a TWTR buyout. 

The CBOE Volatility Index (VIX) is off just 0.1% at 12.01. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.76, with puts nearly doubling calls. At last check, the SPY is off 0.7 point, or 0.3%, at $216.52.

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


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