Major indices are mixed in morning trading, with the DJIA slightly lower and the NASDAQ moderately higher. This reverses Monday’s direction, in which the DJIA shot higher in the morning, followed by a big tech selloff in the afternoon. Monday’s itself a reversal of the trend of recent months that has seen big tech stocks walk away with the lion’s share of market gains. Regal Entertainment (RGC) is up 9.5% after the announcement it would be acquired by Cineworld.
Industries doing well today include internet software, internet & catalog retail, and semiconductors. Industries showing weakness include leisure products, multiline retail, and electric utilities. The VIX is down 4.1% to 11.2 after closing on Friday at 11.68. The most heavily traded options this morning are for the iShares MSCI Emerging Markets ETF (EEM), with 12,209 January-19 48 calls on the board. The total put/call ratio as of 10:00 AM was 0.73 (308,764/225,050). The advancers/decliners ratio for NYSE stocks is 1,214/1,599 while the advancers/decliners ratio for NASDAQ stocks is 1,418/1,327.