Another great day to have money


Major indices are in the green this Tuesday morning, and they rarely get any greener than this. Leading the pack is the Dow 30, up nearly 1% and crashing through 26,000, officially making this the shortest time it has ever taken the index to rise by an increment of 1,000. The price of oil has now remained in the mid-sixty dollar range for nearly a week. Many of the biggest name stocks are up as much as 2% today, but one that deserves a special call out is Merck (MRK), up 7.8% after some very good early clinical trial results for its drug Keytruda, which, as part of a cocktail, appeared to stop the advancement of lung cancer. Good job, guys!

At present, the S&P 500 is up 0.44%, the DJIA is up 0.74%, and the NASDAQ is up 0.69%. West Texas Intermediate crude is trading at $64.23. Bitcoin is at $12,350 on Bitstamp.

Industries doing well today include pharmaceuticals, automobiles, and internet/catalog retail. Industries showing weakness include independent power, healthcare technology, and industrial conglomerates. The VIX is up 6.3% to 10.80 after closing on Friday at 10.16. The most heavily traded options this morning are for the iShares MSCI Emerging Markets ETF (EEM), 62,875 March-16 51 calls and 62,855 March-16 53 calls on the board. The total put/call ratio as of 10:00 AM was 0.58 (700,734/405,815). The advancers/decliners ratio for NYSE stocks is 1,884/1,046 while the advancers/decliners ratio for NASDAQ stocks is 1,979/969.

Symbols: EEM MRK
Julian Close

Julian Close

Julian Close became a stockbroker in 1995. In his 20 years of market experience, he has seen all market conditions and written about every aspect of investing. Julian has also written extensively on corporate best practices and even written reports for the United Nations. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.

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