High and rising

hot air balloon

Like a runaway balloon, the market expands, inflates, rises, and breaks loose from its earthly bearings. To no one’s great surprise, NVIDIA (NVDA) is among today’s winners, up 3% to an all-time high of $190 per share. Having recovered from its weekend dip, oil is back above $50 per barrel. Today’s rally is particularly broad and there are few losers, but one such is Symantec (SYMC), down 2.3% after analyst comments that it had climbed too far too fast as a result of the Equifax (EFX) hack.

West Texas Intermediate crude is trading at $50.62. At present, the S&P 500 is up 0.24%, the DJIA is up 0.31%, and the NASDAQ is up 0.15%.

Here are your Tuesday morning market metrics. Industries doing well today include airlines, food & staples, & tobacco. Industries showing weakness include auto components, construction materials, and healthcare providers. The VIX is up 1.9% to 10.13 after closing on Monday at 10.33. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), with 40K November-10 232.5 puts on the board. The total put/call ratio as of 10:00 AM was 0.87 (324,072/281,250). The advancers/decliners ratio for NYSE stocks is 2,039/730, while the advancers/decliners ratio for NASDAQ stocks is 1,751/916.

Julian Close

Julian Close

Julian Close became a stockbroker in 1995. In his 20 years of market experience, he has seen all market conditions and written about every aspect of investing. Julian has also written extensively on corporate best practices and even written reports for the United Nations. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.

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