After the open… Low and behold, it really was different this morning. While we have seen these morning rallies peter out before, we don't often see the S&P 500 up more than a full percent in pre-market trading. Perhaps the market was heartened after Thursday's lows were not so bad a s Wednesday's. In any case, momentum was already on the bulls' side when good Housing Starts and numbers were released this morning. The S&P 500 is currently up 1.1%.
Here are your Friday morning market metrics. Industries doing well today include Energy Equipment, Airlines and Industrial Conglomerates. Industries showing weakness include Thrifts & Mortgage Finance, Electric Utilities and Healthcare Technology.
The VIX is down 13.6% to 21.77 after closing on Thursday at 25.20. The most active option strike this morning is Facebook (FB), with 45,230 November 77.5 calls changing hands. The put-call volume ratio is 1.06, (385,286/409,900). NYSE Adv/Dec 2,365/583. Nasdaq Adv/Dec 1,737/641.
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.