Stocks bounce after tech bloodbath

Major indices are in the green this morning, following Wednesday’s devastating technology selloff. In particular, the Dow Jones is doing well, rising above 24,000 for the first time, having been lifted on Wednesday as cash flowed from technology into bank stocks. Another big winner today is Kroger (KR), up 13% after better than expected earnings and great holiday season guidance.

At present, the S&P 500 is down 0.02%, the DJIA is up 0.33%, and the NASDAQ is down 1.07%. West Texas Intermediate crude is trading at $57.64. Bitcoin is at $9,464.

Industries doing well today include energy equipment, food & staples retailing, and air freight. Industries showing weakness include media, beverages, and insurance. The VIX is up 0.4% to 10.74 after closing on Wednesday at 9.7. The most heavily traded options this morning are for the S&P 500 SPDR ETF (SPY), with 10,469 December-22 267 calls on the board. The total put/call ratio as of 10:00 AM was 0.64 (406,418/260,884). The advancers/decliners ratio for NYSE stocks is 1,867/936 while the advancers/decliners ratio for NASDAQ stocks is 1,661/1,081.

Symbols: KR SPY
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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