Dow Jones leads stocks higher

 

Call it the revenge of the old economy, if you wish, but today it is the Dow Jones Industrial Average rising to new highs while the tech-heavy NASDAQ lags, with many high-fliers in the red. Unsurprisingly, the rise is being accompanied by a rise in the price of oil. Bond yields are rebounding, and the dollar is up against Pound and Yen but flat against the Euro. Two big winners this morning are former stars GoPro (GPRO) and Cree (CREE), both of which are up more than 5%.

West Texas Intermediate crude is trading at $52.20. At present, the S&P 500 is up 0.39%, the DJIA is up 0.44%, and the NASDAQ is down 0.09%.

Here are your Wednesday morning market metrics. Industries doing well today include trading companies, IT Services, and healthcare providers. Industries showing weakness include personal products, aerospace & defense, and household products. The VIX is down 2.2% to 10.08 after closing on Tuesday at 10.31. The most heavily traded options this morning are for the Financial Select Sector SPDR ETF (XLF), with 15,000 November-3 26.50 calls on the board. The total put/call ratio as of 10:00 AM was 0.85 (358,847/305,576). The advancers/decliners ratio for NYSE stocks is 1,589/1,201 while the advancers/decliners ratio for NASDAQ stocks is 1,501/1,115.

Symbols: CREE GPRO XLF
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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