Market likes it normal, but this can’t last

 

Stocks are slightly higher on the S&P-500 and the Dow Jones Industrial Average this morning, though NASDAQ is down a fraction at this moment. There is good profit new out from cyclicals such as Caterpillar (CAT), and even though Alphabet (GOOGL) issued a warning due to high costs—those costs mean wages and expansion, which is exactly what the country needs. It almost feels today as if many long-since erratic or off the chart indicators sort of headed in the direction of normal. The eclectic nature of the indicators makes it difficult to speculate what will happen if they overshoot normal and just keep on rolling.

West Texas Intermediate crude is trading at $47.39. At present, the S&P 500 is up 0.26%, the DJIA is down 0.32%, and the NASDAQ is flat.

Here are your Tuesday morning market metrics. Industries doing well today include metals & mining, banks, and Hotels. Industries showing weakness include internet software, industrial conglomerates, and Life Sciences. The VIX is up 2% to 9.24 after closing on Monday at 9.43. The most heavily traded options this morning are for Bank of America (BAC), with 9,306 July-28 25 calls 4,455 August 25 calls, and 3,523 August 24 calls on the board. The total put/call ratio as of 10:00 AM was 0.77(383,071/296,396). The advancers/decliners ratio for the NYSE is 1,835/1,033 and for the NASDAQ 1,779/929.

Symbols: BAC CAT GOOGL
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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