Stocks are higher this Tuesday morning, following a somewhat disheartening session on Monday when the market opened considerably higher, only to gradually lose those gains over the course of the day. Many are the voices rumbling about the Fed meeting tomorrow, but traders are content to overlook that for the time. Traders also seem unfazed by continuing weakness in the price of oil. Despite that, one of the day’s winners is Petrobras (PBR), which has announced that it will slash its five-year budged by 25% and sell assets to reduce debt.
Here are your Tuesday morning market metrics. Industries doing well today include life sciences, air freight, and biotechnology. Industries showing weakness include construction materials, trading companies, and energy equipment. The VIX is down 1.5% to 15.341 after closing on Monday at 15.53. The most heavily traded options this morning are for iShares MSCI Japan (EWJ), with 25,000 November 12 puts changing hands. The total put/call ratio as of 10:00 AM was 0.85 (286,209/242,854). NYSE Adv/Dec 1,870/971. Nasdaq Adv/Dec 1,629/733.