After the open… stocks are flat / mixed again this morning, but another sort of wealth is being accumulated, at least in America. Oil, gold, Yen and Euro – all are falling in relation to the swelling value of the US dollar, an economic sea-change that looks increasingly like the story of the year. This unfamiliar (and largely un-predicted) new landscape is causing traders to be cautious. Round and round she goes, and where she stops, nobody knows. The S&P 500 is currently down just 0.02%.
Here are your Friday morning market metrics. Industries doing well today include Energy Equipment, Internet/Catalog Retail and Diversified Telecommunication. Industries showing weakness include biotechnology, Tobacco and Independent Power.
The VIX is up 1.25% to 13.96 after closing on Thursday at 13.79. The most active option strike is for Deutsche Bank (DB) with 11,545 April 38 calls changing hands. The put-call volume ratio is 1.09, (245,521/267,758). NYSE Adv/Dec 1,232/1,597. Nasdaq Adv/Dec 888/1,414.
Julian Close has been a business writer since the first day of the twenty-first century, having written for PRA International and the United Nations Department of Peacekeeping. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. He became a stockbroker in 1993, but now works for Fresh Brewed Media and uses his powers only for good. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.