June begins in the green

 

Major indices are in the green this Thursday morning as investors respond to news that the economy added 253K jobs in May, beating expectations by an astounding 70K. Combined with yesterday’s Beige Book report which indicated that employers are finding it necessary to pay their workers more, this suggests that at least in terms of job creation, the economy is very much on track. Shares of Palo Alto Networks (PANW) are up 17.5% after reporting a huge earnings beat in their fiscal third quarter.

West Texas Intermediate crude is trading at $48.36. At present, the S&P 500 is up 0.16%, the DJIA is up 0.13%, and the NASDAQ is up 0.06%.

Here are your Thursday morning market metrics. Industries doing well today include auto components, automobiles, and multiline retail. Industries showing weakness include aerospace & defense, banks, and semiconductors. The VIX is down 0.67% to 10.34 after closing on Wednesday at 10.41. The most heavily traded options this morning are for the SPDR S&P Biotech ETF (XBI), with 5K June 68 puts on the board. The total put/call ratio as of 10:00 AM was 0.89 (229,446/203,179). The advancers/decliners ratio for the NYSE is 2,075/783 and for the NASDAQ, 1,871/818.

Symbols: PANW XBI
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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