Economy strong, stocks rise

Major indices are in the green Friday morning, as the Commerce Department reported that the US economy had grown a better than expected 3% in the third quarter. In other good news, consumer spending grew at 2.4%. Though the DJIA is up only slightly, the NASDAQ is up an extraordinary 1.5%. The earnings parade continues today, and the big winners are Microsoft (MSFT), up 6.5%, Amazon (AMZN), up 8.1%, Intel (INTC), up 5.1% and First Solar (FSLR), up 14%. Taking the pain this morning is Expedia (EXPE), down a heartbreaking 18%. In other news, CVS (CVS) has made a surprise bid to acquire Aetna (AET).

West Texas Intermediate crude is trading at $52.12. At present, the S&P 500 is up 0.48%, the DJIA is up 0.04%, and the NASDAQ is up 1.5%.

Here are your Friday morning market metrics. Industries doing well today include internet & catalog retail, software, and internet software. Industries showing weakness include healthcare technology, leisure products, and multiline retail. The VIX is down 4.78% to 10.76 after closing on Thursday at 11.3. The most heavily traded options this morning are for Micron Technology (MU), with 8,974 December-15 42 calls on the board. The total put/call ratio as of 10:00 AM was 0.91 (321,032/292,366). The advancers/decliners ratio for NYSE 1,187/1,568 stocks is while the advancers/decliners ratio for NASDAQ stocks is 1,327/1,417.

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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