Oil falls further

 

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.

West Texas Intermediate crude is trading at $42.91. At present, the S&P 500 is up 0.51%, the DJIA is up 0.54%, and the NASDAQ is up 0.51%.

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.

Symbols: EWJ PBR
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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