The DJIA is set to end the holiday-shortened week in the red
After spending most of the morning above water, the
Dow Jones Industrial Average (DJIA) has turned lower at midday -- and is on pace to
snap its two-day winning streak. What's more, thanks to
Monday's massive sell-off, the benchmark is easily on pace to log a weekly loss.
While the latest developments in Greece continue to demand Wall Street's attention -- specifically,
new threats from Prime Minister Alexis Tsipras and Finance Minister Yanis Varoufakis -- the Labor Department's
relatively soft payrolls report has stolen the spotlight. Looking ahead to next week (markets will be closed tomorrow for the July 4 holiday), there will be plenty for speculators to digest, including
the unofficial start of second-quarter earnings season and a handful of Fed speeches.
Continue reading for more on today's market -- and don't miss:
Among the stocks with notable option volume is Xoom Corp (NASDAQ:XOOM), with the contracts crossing the tape at 82 times the average intraday pace. The security is up 22.7% at $25.40, after receiving a buyout bid from PayPal, and option traders appear to be initiating new long positions at XOOM's October and January 2016 25-strike calls.
One of the top gainers on the Big Board is insurance issue Health Net, Inc. (NYSE:HNT). The security has jumped 11.1% to $72.28 -- and is fresh off a record high of $76.67 -- after Centene Corp (NYSE:CNC) agreed to buy the company in a multi-billion-dollar deal.
Vitae Pharmaceuticals Inc (NASDAQ:VTAE) is one of the biggest losers on the Nasdaq, off 11.3% at $13.24. The biotech has had a tough week both on and off the charts, and since last Friday's close at $15.19, the stock has surrendered nearly 13%. Despite this negative price action, VTAE appears to have found a footing atop its 20-week moving average -- a trendline that previously served as resistance.
The CBOE Volatility Index (VIX) is up 0.7 point, or 4.4%, at 16.79 -- and on track for its highest weekly finish since early February.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.01, with puts doubling calls. SPY is off 0.2 point, or 0.1%, at $207.32.