Traders have started this Tuesday morning with a bit of a shopping spree, driving all major indices higher. It is not immediately clear what is driving the optimism, or if the cause of the buying even is optimism. Gold’s recent rally has stalled, and interest rates remain at, near, or below zero, so investors might be forgiven for dumping their excess cash into the market simply because there is nowhere else to put it. Two companies looking particularly strong today are Crocs (CROX), up 17%, and SodaStream (SODA) up 12%.
Here are your Tuesday morning market metrics. Industries doing well today include internet / catalog retail, capital markets, and road & rail. Industries showing weakness include healthcare technology, life sciences, and multiline retail. The VIX is down 5% to 13.83 after closing on Monday at 14.57. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), with 7,663 May-13 204 puts changing hands. The total put/call ratio as of 9:00 AM was 1.21 (222,235/269,904). NYSE Adv/Dec 2,110/694. Nasdaq Adv/Dec 1,325/891.