On the bounce


In a pleasant change from the recent trend, all major indices are all in the green this Thursday morning. The good news isn’t from the labor market, as Initial Claims rose by 10,000 last week, though the labor market remains tight. There is good news from Walmart (WMT) which is up 6.8% this morning after reporting better than expected earnings and big gains in online sales. Alas, not all retailers faired so well in the third quarter. Best Buy (BBY) is down 7% after reporting worse than expected sales and providing a poor holiday season forecast.

West Texas Intermediate crude is trading at $54.99. At present, the S&P 500 is up 0.51%, the DJIA is up 0.64%, and the NASDAQ is up 0.84%.

Industries doing well today include communications equipment, food & staples, and multiline retail. Industries showing the greatest weakness include oil & gas, electric utilities, and media. The VIX is down 7.5% to 12.15 after closing on Wednesday at 13.13. The most heavily traded options this morning are for Omnicom (OMC), with 8,482 December-15 70 calls on the board. The total put/call ratio as of 10:00 AM was 0.79 (344,543/271,385). The advancers/decliners ratio for NYSE stocks is 1,996/823 while the advancers/decliners ratio for NASDAQ stocks is 2,141/605.

Symbols: BBY OMC WMT
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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