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A number of companies reported better-than-expected earnings
The Dow Jones Industrial Average (DJIA) is up triple digits -- and back above the 18,000 mark -- on stimulus news out of China. Specifically, the People's Bank of China decided to cut its reserve requirement ratio more severely than expected. On the earnings front, a number of companies topped Wall Street estimates, including Halliburton Company (NYSE:HAL). Elsewhere, New York Fed President William Dudley said he hopes economic data will "support a decision to lift off [interest rates] this year," but added that an initial rate hike "does not mean that U.S. monetary policy will be tight."
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Among the stocks with notable put activity is HAL, where the contracts are crossing at nearly quadruple the expected midday clip. Digging deeper, it looks like traders are buying to open the weekly 4/24 47- and 48.50-strike puts. At last check, the shares are up 4% at $48.74, following the energy firm's successful trip to the earnings confessional.
For more midday statistics and stocks on the move, head to page 2.
Oxford Industries Inc (NYSE:OXM) is the leading gainer on the Big Board, up 8.2% to trade at $79.06, after SunTrust Robinson boosted its price target to $88 from $80, and Keybanc raised its target price to $87 from $82. Also helping the shares was a blowout debut of the apparel maker's Lilly Pulitzer line at Target Corporation (NYSE:TGT). OXM earlier topped out at an annual high of $80.19, and has advanced more than 43% year-to-date.
Immunotherapy specialist Aduro BioTech Inc (NASDAQ:ADRO) is among the notable advancers on the Nasdaq, following this bullish brokerage note. At last check, shares of the Wall Street newcomer were 8.5% higher at $43.39.
The CBOE Volatility Index (VIX) is down 0.9 point, or 6.6%, at 12.98.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.77, with puts handily outstripping calls. SPY was last seen up 2.2 points, or 1%, at $210.12.