Stocks are little changed at mid morning Thursday. The European Central Bank signaled that it is moving toward a less accomodative monetary policy this morning, while the tariff talk in the United States has moved from a hard-line across the board tariff, to a nebulous plan that may include exceptions for various other countries. A signing ceremony originally scheduled for this afternoon is likely to be a purely symbolic event, as final language of any executive order has yet to be finalized.
At present, the S&P 500 is up 0.13%, the DJIA is up 0.10%, and the NASDAQ is up 0.21%.
Industries doing well today include Airlines, Tobacco, and Beverages. Industries showing weakness include Diversified Consumer Services, Metals & Mining, and Health Care Technology. The VIX is down 0.71 to 17.05 after closing yesterday at 17.76. The most heavily traded options this morning are for the SPDR S&P 500 Trust ETF (SPY), with 10,086 Mar. 23 277 calls on the board. The total put/call ratio as of 10:00 AM was 0.92 (239,980/260,066). The advancers/decliners ratio for NYSE stocks is 1,413/1,454, while the advancers/decliners ratio for NASDAQ stocks is 1,415/1,394.