Dow Jones Industrial Average, Crude Oil Retreat

The Dow Jones Industrial Average (DJIA) is edging lower, as stocks react to a raft of economic data. Most recently, the Commerce Department reported U.S. factory orders saw their biggest gains since the first half of 2015, up 2.7% in October -- roughly in line with estimates. Keeping the Dow in check are a pair of looming central bank meetings, with the European Central Bank (ECB) scheduled to make its policy announcement on Thursday, and the Federal Reserve expected to bump interest rates next week. Meanwhile, oil prices are pulling back amid a jump in output from Russia and the Organization of the Petroleum Exporting Countries (OPEC), with January-dated crude futures last seen 2% lower at $50.77 per barrel.

• Why it's "too early to buy" Chipotle Mexican Grill, Inc. (NYSE:CMG).
• Analysts: Pandora Media Inc (NYSE:P) could fetch a pretty penny if buyout rumors come to fruition.
• Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and other noteworthy stats at midday.
• Plus... SunPower's gloomy day, DryShips drives higher, and the surgery specialist on the ropes.

Among the stocks with unusual put volume at midday is SunPower Corporation (NASDAQ:SPWR), where the contracts are flying at 12 times the expected intraday pace. Triggering the activity is a 7.6% slide in the shares, last seen at $6.68, on the heels of a downgrade to "neutral" from "buy" at Guggenheim. On the options front, one trader bought to open a sweep of nearly 5,200 weekly 12/9 6.50-strike puts.

One of the top stocks on the Nasdaq is DryShips Inc. (NASDAQ:DRYS), up 12% at $5.15. Shares of the shipping concern are surging on reports that Morgan Stanley has taken a sizable stake in the company.

One stock struggling on the Nasdaq is Intuitive Surgical, Inc. (NASDAQ:ISRG). At last check, the medical equipment maker has dropped 2.6% at $620.49, following a price-target cut at Leerink.

The CBOE Volatility Index (VIX) is off 0.3 point, or 2.1%, at 11.88, putting the market's "fear gauge" on track for its lowest close since mid-August.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.22, with puts edging out calls. Most recently, SPY was seen 0.1 point, or 0.05%, lower at $220.90.

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