After the open… after a gloomy Friday, stocks are racing back up, having erased the bulk of Friday's loss in the first 30 minutes of trading. This is despite a disastrous Monday trading session in China and no solution to the Eurozone's Greece problem. Oil prices are forming a new base, it seems, at the $55 level, which is encouraging investors to pour money back into oil and oil stocks. A big earnings win from Hasbro (HAS) has pushed the stock up 7.6% so far this morning.
At present, stocks are up. The S&P 500 is up 0.94%, and the DJIA is up 1.28%.
Here are your Monday morning market metrics. The industries doing well today include Leisure Products, Paper & Forest Products and Gas Utilities. There are no industries showing weakness today.
The VIX is down 4.68% to 13.24 after closing Friday at 13.89. The most active strikes are Petróleo Brasileiro S.A. (PBR) with 16,800 July 11 calls and 16,000 July 9 calls changing hands. The total put-call volume ratio is .68 (308,111/208,777). NYSE Adv/Dec 2,274/622. Nasdaq Adv/Dec 1,648/741.
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 follow Julian’s daily hedged options trades and his unfolding market commentary via twitter: @JulianClose_MIC.