Facebook wins big

 

Major indices are higher this Thursday morning, as the whole market seems to be celebrating a great earnings report from Facebook. Facebook (FB) shares are up 5%. In other news, bond prices and the dollar are slightly higher, indicating that the Street’s general level of anxiety is easing. In the oil market, the Street is responding with enthusiasm to recent pledges of moderation from Russia and Saudi Arabia, hence there is good news today for old economy stocks as well as new.

West Texas Intermediate crude is trading at $48.74. At present, the S&P 500 is up 0.09%, the DJIA is up 0.26%, and the NASDAQ is up 0.34%.

Here are your Thursday morning market metrics. Industries doing well today diversified telecom, internet software, and media. Industries showing weakness include building products, airlines, and air freight. The VIX is down 2% to 9.41 after closing on Wednesday at 9.6. The most heavily traded options this morning are for American Airlines, (AAL), with 7,578 July-28 50 calls, and 7,519 August-4 50 calls on the board. The total put/call ratio as of 10:00 AM was 0.66 (379,071/250,476). The advancers/decliners ratio for the NYSE is 1,277/1,513 and for the NASDAQ 1,234/1,420.

Symbols: AAL FB
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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