Stocks climb as market anticipates tax cut

tax cut

Major indices are in the green this Monday morning, especially the DJIA, up more than one percent. CVS (CVS) has announced that it is buying Aetna (AET) for $69 billion. The new company will be a powerhouse in the health arena, though CVS shares are currently down 3.3%, while AET shares are up 1.2%. Shares of Bank of America (BAC) are up 3.15%.

At present, the S&P 500 is up 0.69%, the DJIA is up 1.2%, and the NASDAQ is up 0.02%. West Texas Intermediate crude is trading at $57.66. Bitcoin is at $11,458.

Industries doing well today include trading companies, multiline retail, and road & rail. Industries showing weakness include semiconductors, life sciences tools, and software. The VIX is down 5.25% to 10.83 after closing on Friday at 11.43. The most heavily traded options this morning are for the S&P 500 SPDR ETF (SPY), with 18,186 December-29 270 calls on the board. The total put/call ratio as of 10:00 AM was 0.67 (470,891/314,966). The advancers/decliners ratio for NYSE stocks is 2,071/801 while the advancers/decliners ratio for NASDAQ stocks is 2,075/709.

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