Dow Jones Industrial Average Makes Quick Recovery After Jobs Data

The Analyst Note Crushing GoPro

Josh Selway
Jan 6, 2017 at 12:02 PM
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The Dow Jones Industrial Average (DJIA) fell sharply out of the gate following this morning's nonfarm payrolls report, but stocks have quickly bounced back to trade in positive territory. On top of the jobs report, traders are also considering the first monthly drop in factory orders since June in November, while a handful of Fed speeches are on tap. Elsewhere, retail stocks are again in focus, as holiday sales continue to pour in. And while the S&P 500 Index (SPX) is fresh off an all-time intraday peak and the Nasdaq Composite (COMP) is taking aim at a new record closing high, the Dow remains on pace for a solid weekly win. 

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

Midday market stats Jan 6

Among the stocks with unusual options volume at midday is social media giant Facebook Inc (NASDAQ:FB), with calls once again in high demand. As FB shares gain 1.9% to trade at $123, calls are trading at three times the pace usually seen at this point in the day -- accounting for the top four most popular positions. In the lead is the weekly 1/6 122-strike call, where it seems traders are betting on extended gains for FB by day's end, when the contracts expire. 

One of the top stocks on the New York Stock Exchange is auto stock Fiat Chrysler Automobiles NV (NYSE:FCAU), following a bullish round of analyst attention. The stock was last seen 6% higher at $10.40, earlier touching an annual peak of $10.52. These outsized gains are nothing new for FCAU, though, as the shares have rallied 82% in the past six months. 

Daily Chart of FCAU Jan 6

Over on the Nasdaq, Endo International plc - Ordinary Shares (NASDAQ:ENDP) is underperforming, with the shares down 6.1% at $16.47, as a weak outlook from one sector peer weighs on ENDP. The stock is no stranger to heavy losses, shedding almost 71% year-over-year, including a post-earnings sell-off last quarter. 

 The CBOE Volatility Index (VIX) is down 0.5 point, or 3.9%, at 11.22. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.75, as puts easily outpace calls. SPY was last seen up 0.9 point, or 0.4%, at $227.28. 

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