Frederic Ruffy submits: SentimentMajor averages are holding modest gains ahead of employment numbers Friday morning. Economic data drove the morning action after the Labor Department said that filings for jobless benefits fell by 6,000 last week and a bit more than economists had expected. Separate data, on second quarter productivity and July factory orders, was in-line with expectations. However, the latest pending home sales showed a surprise increase of 5.3 percent in July. Economists were looking for no change. After a 255-point rally Wednesday, the data was enough to keep the bullish momentum alive and now the Dow Jones Industrial Average is up 20 points heading into the final hour. Trading is slow, with about 4.7 million calls and 3.9 million puts traded. Volume will pick up early Friday in reaction to the jobs data, and then slow to a crawl tomorrow afternoon heading into the three-day Labor Day weekend.Bullish FlowBullish flow detected in Anadarko Petroleum (APC), with 23,850 calls trading, or 2x the recent average daily call volume in the name. Shares are up $1.81 to $50.50 after The Australian published a story saying that APC is on BHP’s (BHP) radar screen as a possible acquisition target: "A senior figure in the global energy industry is convinced that the 'second target' for BHP is Anadarko Petroleum Corporation, telling The Australian he believed the US oil and gas independent was firmly on BHP’s radar. BHP declined to comment for this article." In options action, the focus is on APC Sep 50, 52.5 and 55 calls. Nov 55 calls are among the most actives as well.Complete Story »
