Stocks cool off amid global economic worries

taking a breather

Stocks pulled back slightly this Thursday morning, after closing out the session on Wednesday with the S&P 500 within half a percentage point from its all-time high. This comes after ECB President Mario Draghi warned that the European economy would like suffer years of weak economic output as a result of having suffered years of weak economic output. One big winner this morning is Smuckers (SJM), which is up 7% after soundly beating the Street’s earnings estimate.

West Texas Intermediate crude is trading at $50.55. At present, the S&P 500 is down 0.36%, the DJIA is down 0.29%, and the NASDAQ is down 0.28%.

Here are your Thursday morning market metrics. Industries doing well today include airlines, healthcare equipment, and diversified consumer services. Industries showing weakness include independent power, metals & mining, and banks. The VIX is up 4.5% to 14.72 after closing on Wednesday at 14.08. The most heavily traded options this morning are for The Financial Select Sector SPDR Fund (XLF), with 25K June-30 24 calls changing hands. The total put/call ratio as of 9:00 AM was 0.98 (268,985/262,417). NYSE Adv/Dec 633/2,118. Nasdaq Adv/Dec 592/1,556.

Symbols: SJM XLF
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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