Stocks break out

 

Stocks in the U.S. are modestly higher at mid-morning Friday. The Nasdaq is leading the major indices higher as new tariffs imposed by the United States went into effect overnight, matched by new duties imposed by China.

At present, the S&P 500 is up 0.85%, the DJIA is up 0.51%, and the NASDAQ is up 1.16%.

Industries doing well today include Biotechnology, Internet Software & Services, and Construction Materials. Industries showing weakness include Personal Products, Air Freight & Logistics,  and Machinery. The VIX is down 1.27 to 13.70 after closing yesterday at 14.97. The most heavily traded options this morning are for the Ipath S&P 500 VIX Short-Term Futures ETN (VXX), with 23,310 Aug 24 47 calls on the board. The total put/call ratio as of 10:00 AM was 0.89 (218,521/246,071). The advancers/decliners ratio for NYSE stocks is 2,254/673, while the advancers/decliners ratio for NASDAQ stocks is 2,102/821.

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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