Markets climb toward resistance

Stocks are rising Tuesday morning, but the S&P 500 is nearing a key resistance level at about 2,800. Pepsico (PEP) got earnings season started this morning, with a better-than-expected report.

At present, the S&P 500 is up 0.34%, the DJIA is up 0.61%, and the NASDAQ is up 0.17%.

Industries doing well today include Beverages, Independent Power and Renewable Electricity Producers, and Energy Equipment & Services. Industries showing weakness include Health Care Technology, Airlines,  and Road & Rail. The VIX is down 0.24 to 12.45 after closing yesterday at 12.69. The most heavily traded options this morning are for the SPDR S&P 500 Trust ETF (SPY), with 23,322 Aug 17 275 puts on the board. The total put/call ratio as of 10:00 AM was 0.91 (272,505/297,855). The advancers/decliners ratio for NYSE stocks is 1,638/1,243, while the advancers/decliners ratio for NASDAQ stocks is 1,442/1,398.

Symbols: SPY
Bobby Raines

Bobby Raines

Bobby Raines is the Managing Editor of the Market Intelligence Center. He has degrees in Mass Communications and History from Emory & Henry College. Bobby worked at a mid-sized daily newspaper before making a switch to covering the financial industry full time in the years leading up to the financial crisis. He has been a member of the Fresh Brewed Media team since 2011 and has served as a writer and analyst. You can write to him at braines@marketintelligencecenter.com or follow him on Twitter: @BRatMICenter.

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