Stocks open lower to more tariff concerns

 

Stocks are lower, but holding relatively steady at mid-morning Wednesday. A new round of tariffs, this time a 10% levy on $200 billion in goods imported from China, was put forward by the Trump administration last night, roiling world markets, and prompting threats of retaliation from the China.

At present, the S&P 500 is down 0.68%, the DJIA is down 0.73%, and the NASDAQ is down 0.63%.

Industries doing well today include Trading Companies & Distributors, Diversified Consumer Services, and Electric Utilities. Industries showing weakness include Airlines, Personal Products,  and Auto Components. The VIX is up 1.18 to 13.82 after closing yesterday at 12.64. The most heavily traded options this morning are for the SPDR S&P 500 Trust ETF (SPY), with 34,894 July 13 274 puts on the board. The total put/call ratio as of 10:00 AM was 0.80 (286,358/356,174). The advancers/decliners ratio for NYSE stocks is 955/1,967, while the advancers/decliners ratio for NASDAQ stocks is 1,043/1,877.

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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