Dow Heads Toward Third Straight Loss; VIX Eyes Biggest Surge in Months

The DJIA is down triple digits at midday

Managing Editor
Aug 10, 2017 at 12:02 PM
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The Dow Jones Industrial Average (DJIA) is lower at midday, due to mounting tensions with North Korea and a dismal round of earnings from retailers. The blue-chip index is staring at its third straight loss, as well as its first triple-digit drop in more than a month. The S&P 500 Index (SPX) and Nasdaq Composite (COMP) are also lower, while the CBOE Volatility Index (VIX) -- or the stock market's "fear gauge" -- is climbing and on track for its largest one-day gain since May 17.

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

  • The construction stock crashing to eight-year lows.
  • Blue Apron stock can't catch a break.
  • Plus, Morgan Stanley's spiking put volume; Mylan's rebound; and another massive move for Dillard's.

Midday Market Stats Aug 10

Among the stocks with unusual volume is bank stock Morgan Stanley (NYSE:MS), with roughly 9,000 puts traded. That is 1.7 times the average intraday pace, and on track for the 80th percentile of its annual range. The weekly 8/11 47-strike put is the most active, accounting for 2,200 contracts. MS stock is currently down 1.8% to trade at $46.79, despite a recent surge to nine-year highs for the banking giant.

Pharma stock Mylan N.V. (NASDAQ:MYL) is trading near the top of the S&P 500 today, up 2.2% at $32.53, after receiving an approval to launch HIV treatment products in Canada. MYL stock just yesterday fell to a four-year low of $29.58, as traders jeered Mylan's earnings report.

Dillard's, Inc. (NYSE:DDS) stock is trading near the bottom of the NYSE, down 16% at $61.86, extending its streak of big post-earnings moves after reporting revenue that fell short of analyst expectations. The drop today has the retailer stock testing its 40-day moving average, which has acted as both support and resistance in 2017. The shares have now shed 25% since touching an annual high of $83.44 on July 31.

Midday Market Chart DDS Aug 10



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