The DJIA is headed for its first triple-digit loss since July 6
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.
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.
