Stocks continue to recover

Stocks are higher at mid morning Wednesday as markets continues to recover from heavy selling earlier this week. Wynn Resorts (WYNN) is up sharply after the company’s CEO, Steve Wynn, resigned in the wake of sexual harassment allegations.

At present, the S&P 500 is up 0.88%, the DJIA is up 1.14%, and the NASDAQ is up 0.51%.

Industries doing well today include Leisure Products, Independent Power and Renewable Electricity Producers , and Aerospace & Defense. Industries showing weakness include Metals & Mining, Personal Products, and Health Care Technology. The VIX is down 7.18 to 22.84 after closing on Tuesday at 29.98. The most heavily traded options this morning are for the S&P 500 Trust ETF (SPY), with 29,745 March 250 puts on the board. The total put/call ratio as of 10:00 AM was 0.90 (517,301/573,188). The advancers/decliners ratio for NYSE stocks is 1,989/977 while the advancers/decliners ratio for NASDAQ stocks is 1,666/1,280.

Symbols: SPY WYNN
Bobby Raines

Bobby Raines

Bobby Raines is the Managing Editor of the Market Intelligence Center. He has degrees in Mass Communications and History from Emory & Henry College. Bobby worked at a mid-sized daily newspaper before making a switch to covering the financial industry full time in the years leading up to the financial crisis. He has been a member of the Fresh Brewed Media team since 2011 and has served as a writer and analyst. You can write to him at braines@marketintelligencecenter.com or follow him on Twitter: @BRatMICenter.

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