The DJIA is modestly higher ahead of the Fed minutes and the start of earnings season
The
Dow Jones Industrial Average (DJIA) is waffling ahead of this afternoon's
Fed minutes release and the
unofficial start of earnings season, with the benchmark last seen slightly higher. Notably, a gain today would extend the Dow's
winning streak to five sessions. The
Nasdaq Composite (COMP), meanwhile, is decidedly lower as tech and healthcare stocks sink. On the economic front, weekly jobless claims fell more than expected -- and to a nearly 42-year low -- while a handful of retailers will be
reporting September sales figures throughout the day.
Continue reading for more on today's market -- and don't miss:
Among the stocks with notable option volume is computer hardware firm
EMC Corporation (NYSE:EMC), with the contracts running at seven times the average intraday rate. Currently, the stock is up 3.3% at $26.81, amid
reports of a potential buyout. According to the International Securities Exchange (ISE), one short-term trader initiated a
bull call spread at the October 27 and 28 strikes, perhaps to bet on a bid between $27 and $28 for EMC.
One of the notable decliners on the Big Board is burger joint
Shake Shack Inc (NYSE:SHAK), thanks to a
newly announced secondary offering. At last check, the stock was down 6.7% at $45.22.
Among the leading losers on the Nasdaq is drugmaker
Pacific Biosciences of California (NASDAQ:PACB), down 8.6% at $7.13. Today's pullback may have been in the cards, though, as PACB's
huge rally in recent sessions had lifted its 14-day Relative Strength Index to 82 -- firmly in overbought territory.
The CBOE Volatility Index (VIX) is up 0.1 point, or 0.8%, at 18.54.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.60, with puts outpacing calls. At last check, SPY was off 0.1 point, or 0.1%, at $199.29.