Investors ecstatic as stocks soar


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%.

West Texas Intermediate crude is trading at $43.77. At present, the S&P 500 is up 0.66%, the DJIA is up 0.78%, and the NASDAQ is up 0.35%.

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.

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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