Turnaround Tuesday

 

Stocks opened lower Tuesday as new trade tensions unnerved investors. The headline retail sales number for April was in-line with expectations, but when auto sales are factored out, April’s retails sales look a little light.

At present, the S&P 500 is down 0.64%, the DJIA is down 0.69%, and the NASDAQ is down 0.87%.

Industries doing well today include Leisure Products, Construction Materials, and Multiline Retail. Industries showing weakness include Life Sciences Tools & Services, Semiconductors & Semiconductor Equipment, and Internet & Catalog Retail. The VIX is up 1.25 to 14.18 after closing yesterday at 12.93. The most heavily traded options this morning are for the SPDR S&P 500 Trust ETF (SPY), with 54,419 June 15 268 puts on the board. The total put/call ratio as of 10:00 AM was 1.12 (339,730/302,424). The advancers/decliners ratio for NYSE stocks is 1,041/1,889, while the advancers/decliners ratio for NASDAQ stocks is 1,374/1,558.

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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