Market rises, stalls

 

Stocks are slightly up at mid-day Wednesday. Major indices rose in the pre-market, but stalled after the open with Federal Reserve chairman Jerome Powell scheduled to speak at noon today regarding the possibility of rising interest rates. New Home Sales reports could also be contributing to the stall, with new home sales dropping nearly 10% to 544k from the previous of 597k, coming in below expectations of 575k. Wayfair (W) is up 15.5% from the close following news that the company saw a 58% increase in direct retail sales over the holiday weekend spanning Black Friday through Cyber Monday. 

At present, the S&P 500 is up 0.24%, the DJIA is up 0.63%, and the NASDAQ is up 0.23%.

Industries doing well today include Health Care Providers & Services, Software, and Independent Power and Renewable Electricity Producers. Industries showing weakness include Household Durables, Construction & Engineering, and Containers & Packaging. The VIX is up 0.21 to 19.23 after the previous close of 19.02. The most heavily traded options this morning are for Huntsman Corporation (HUN), with 12,000 Jan 18 19 puts on the board. The total put/call ratio as of 10:00 AM was 1.50 (271,477/258,650). The advancers/decliners ratio for NYSE stocks is 1,193/1,680 while the advancers/decliners ratio for NASDAQ stocks is 1,489/1,443.

[InvestorsKeyhole, various news and data sources]

Symbols: HUN W

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