Dow Jones Industrial Average Fights for 6th Weekly Win; S&P Slips

2 Bank Stocks in Danger of Downgrades

Dec 16, 2016 at 11:56 AM
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The Dow Jones Industrial Average (DJIA) has spent most of the session in the green, edging closer to the 20,000 millennium level and a sixth consecutive weekly win. Beyond the Dow, however, the broader-market picture is mixed, as both the S&P 500 Index (SPX) and Nasdaq Composite (COMP) are trading slightly lower at midday. Drilling deeper, real estate stocks are the top performing sector, brushing off some downbeat housing data. Meanwhile, crude oil prices are trading higher, with January-dated crude futures recovering from early weakness to gain 1.4% at $51.60 per barrel.

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

midday market stats dec 16

Among the stocks with unusual call volume at midday is Dunkin Brands Group Inc (NASDAQ:DNKN), with the contracts trading at 29 times the usual intraday rate. Eleventh-hour bulls are buying to open the at-the-money December 55 call amid unconfirmed M&A chatter, per Trade-Alert. Currently, DNKN stock is 2.8% higher at $55.07, and fresh off an annual peak of $56.13.

One of the poorest performers on the New York Stock Exchange (NYSE) is Weight Watchers International, Inc. (NYSE:WTW), dropping 5.9% to trade at $10.11. The stock is sliding on this bearish note from Morgan Stanley, which predicted a move to annual lows.

wtw daily dec 16

On the Nasdaq, the top performer today is Evoke Pharma Inc (NASDAQ:EVOK), thanks to a big FDA win. Currently, shares of the drugmaker are up over 60% at $2.31 -- the stock's biggest intraday percentage gain since late July.

The CBOE Volatility Index (VIX) is down 0.3 point, or 2.2%, at 12.51.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.19, with puts edging out calls. At last check, SPY is off less than 0.1 point at $225.40.

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

 

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