Nike Drops Dow Jones Industrial Average as Yellen Testifies

After a positive start to the day, the Dow Jones Industrial Average (DJIA) has fallen into the red, pressured by Nike Inc's (NYSE:NKE) post-earnings slide. Stocks are reacting to a busy day of speeches from central bankers, with Fed Chair Janet Yellen currently testifying in front of the House Financial Services Committee. Earlier, Yellen said that while the Fed does not have a "fixed timetable" for raising interest rates, the majority of voting members support a rate increase this year, as long as the economy continues to improve. Oil prices are also in focus amid an informal meeting among global oil producers in Algeria. November-dated crude futures were last seen 1.1% higher at $45.14 per barrel, thanks to an unexpected drop in domestic crude inventories. 

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

• Why more losses could be in store for this biotech -- even after today's 45% drop. 
• 2 reasons Deutsche Bank AG (USA) (NYSE:DB) is bouncing. 
• Plus ... Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and other noteworthy stats at midday.

Among the stocks with unusual put volume is social media concern Twitter Inc (NYSE:TWTR). As the shares sink 4.4% to $22.67 following bearish analyst attention, put options are trading at two times what's typically seen at this point in the day. The most popular option is the December 22 put, where buy-to-open open activity has been detected, meaning traders are expecting TWTR to fall back below $22 within the next two months.

Business services provider Cintas Corporation (NASDAQ:CTAS) is outperforming on the Nasdaq today, up 2.3% at $116.05. The move comes after the company reported better-than-expected fiscal first-quarter earnings -- and puts the shares back within striking distance of their all-time high of $119.94 from earlier in the month. CTAS sports a 27% year-to-date gain, thanks to a huge M&A-induced bull gap last month. 

Anavex Life Sciences Corp. (NASDAQ:AVXL), meanwhile, is the Nasdaq's top performer. The shares are up 46.5% at $4.60, after the drugmaker announced a new drug-testing agreement with Biogen Inc (NASDAQ:BIIB). Even with today's bull gap, however, the shares remain far removed from their highs near $15 from back in November. 

The CBOE Volatility Index (VIX) is up 0.1 point, or 0.8%, at 13.20. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.38, with puts outpacing calls. SPY is down 0.5 point, or 0.2%, at $215.06. 

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