Stocks calm after pullback

Stocks finally lost momentum on Wednesday, causing major indices to fall all the way back to where they were in early December, though the pullback was only about 15% of what stocks have gained since November 9th on the S&P 500. Barrick Gold (ABX) is up 4.6% today after analysts forecast that its EPS will rise by 26% in 2016 as long as the price of gold rises by approximately $200 per ounce. In a reversal of recent fortunes, NVIDIA (NVDA) is down 4.4% today to $104.43 after it was valued at $90 by short selling firm Citron Research.

West Texas Intermediate crude is trading at $53.93. At present, the S&P 500 is up 0.11%, the DJIA is up 0.13, and the NASDAQ is up 0.9%.

Here are your Thursday morning market metrics. Industries doing well today include metals & mining, construction materials, and healthcare technology. Industries showing weakness include internet & catalog retail, semiconductors, and banks. The VIX is up 1.4% to 13.13 after closing on Wednesday at 12.95. The most heavily traded options this morning are for the PowerShares QQQ ETF (QQQ), with 5,000 February 118 puts and 5,000 February 112 puts on the board. The total put/call ratio as of 10:00 AM was 0.96 (173,618/167,102). NYSE Adv/Dec 2,035/809. Nasdaq Adv/Dec 1,564/886.

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.

You May Also Like