The market is cool but calm this morning after the weekly Initial Claims number was reported to have fallen from 276K to 263K, where most analysts foresaw no change. The report was anticipated with more apprehension than usual, as it was less than a week ago that a poor jobs number exposed remaining weakness in the market.
WTI crude oil is firming up above $48, and while that is not a huge bounce, it is significant enough to have halted and turned around the energy stock rout, though many energy stocks are still far below their year-ago prices.
The S&P 500 is up 0.34%, the DJIA is down 0.21%, and the NASDAQ is down 0.69%.
Here are your Thursday morning market metrics. Industries doing well this morning include metals & mining, electric utilities, and communications equipment. Industries showing weakness include thrifts, banks, and capital markets.
The VIX is up 0.9% to 18.47 after closing on Wednesday at 18.40. The most actively traded equity options are for Neurocrine Biosciences (NBIX), with 5,000 November 45 puts changing hands. The total put-call volume ratio as of 9:00 AM was 0.91 (222,393/201,471). NYSE Adv/Dec 1,531/1,358. Nasdaq Adv/Dec 1,067/1,290.
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.