After the open… at 2:00 PM, the Fed will announce its rate decision, though in the current environment, the real question is by how much they will cut back on Quantitative Easing. While no one is entirely sure what constitutes a win for Street, the Street is convinced it's going to get one, as all major indices are higher this morning.
Here are your Wednesday morning market metrics. Industries doing well today include Air Freight, Building Products and Household Durables. Industries showing weakness include Food Products, Internet/Catalog Retail and Containers/Packaging.
The VIX is down 0.7% to 12.62 after closing on Tuesday at 12.73. There is a lot of activity on GT Advanced Technology (GTAT) options this morning, with 20,233 September December 11 puts changing hands. The put-call volume ratio is 1.12, (301,472/339,098). NYSE Adv/Dec 1,990/826. Nasdaq Adv/Dec 1,388/775.
Julian Close has been a business writer since the first day of the twenty-first century, having written for PRA International and the United Nations Department of Peacekeeping. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. He became a stockbroker in 1993, but now works for Fresh Brewed Media and uses his powers only for good. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.