Markets lack direction

Stocks are mixed at mid-morning Wednesday. After opening higher, the major indices have generally retreated, although oil and related industries remain strong.

At present, the S&P 500 is up 0.29%, the DJIA is up 0.05%, and the NASDAQ is up 0.13%.

Industries doing well today include Energy Equipment & Services, Oil, Gas & Consumable Fuels, and Construction & Engineering. Industries showing weakness include Household Durables, Automobiles, and Food & Staples Retailing. The VIX is down 0.60 to 14.11 after closing yesterday at 14.71. The most heavily traded options this morning are for the Ipath S&P 500 VIX Short-Term Futures ETN (VXX), with 13,072 June 15 97 calls on the board. The total put/call ratio as of 10:00 AM was 0.75 (218,333/289,323). The advancers/decliners ratio for NYSE stocks is 1,467/1,448, while the advancers/decliners ratio for NASDAQ stocks is 1,472/1,395.

Symbols: VXX
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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