Dow Jones Industrial Average Slips as Data Disappoints

After finishing the third quarter on a strong note, the Dow Jones Industrial Average (DJIA) has started the historically bullish fourth quarter in the red. However, although the Dow was down more than 100 points at its intraday low, it has since pared those losses as stocks react to a mixed round of economic data. On the downside, Markit's purchasing managers manufacturing index (PMI) clocked in at a three-month low in September, construction spending for August unexpectedly fell, and results from some of the major automakers suggest U.S. motor vehicle sales declined in September. On the positive side, the Institute for Supply Management's (ISM) manufacturing index swung back into expansion territory last month.

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

• Twitter Inc (NYSE:TWR) is flying high on rumors this tech titan is mulling a bid.
• The "unknown risks" Deutsche Bank AG (USA) (NYSE:DB) may be trying to avoid.
• 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 options volume at midday is mining stock Freeport-McMoRan Inc (NYSE:FCX). The shares are up 0.1% at $10.87, after Deutsche Bank raised its rating this morning, and calls are trading hands at roughly 1.6 times their typical intraday rate. Some bullish traders appear to be eyeing a rebound by week's end, as some likely buy-to-open action has been spotted at the two most active contracts -- the weekly 10/7 11- and 11.50-strike calls.

Retail concern Cabelas Inc (NYSE:CAB) is one of the top performers on the New York Stock Exchange at midday, after the company agreed to be bought by Bass Pro Shops for $5.5 billion, or $65.50 per share. The stock has soared 14.6% to $62.93. 

Among the worst performers on the Nasdaq, meanwhile, is TASER International, Inc. (NASDAQ:TASR), down 12.6% at $24.93. Pummeling the shares today is a bearish brokerage note from Ladenburg Thalmann, as well as news that rival Vievu LLC won a $6 million contract from the New York Police Department (NYPD). Even with today's slide, however, TASR is up 44% in 2016. 

The CBOE Volatility Index (VIX) has tacked on 0.9 point, or 6.6%, to 14.17. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.65, with puts heavily outpacing calls. SPY was last seen down 1.2 points, or 0.5%, at $215.17. 

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