Stocks fall again

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Stocks are lower again Friday as the monthly jobs report did little to assuage worries about inflation that have caused quite a bit of selling on the bond market in recent weeks. That bond selling has of course sent interest rates higher, leading to some new headwinds for an equity market where valuations were already pretty stretched.

At present, the S&P 500 is down 0.86%, the DJIA is down 1.06%, and the NASDAQ is down 0.78%.

Industries doing well today include Internet & Catalog Retail, Leisure Products, and Communications Equipment. Industries showing weakness include Oil, Gas & Consumable Fuels, Metals & Mining, and Internet Software & Services. The VIX is up 0.52 to 13.99 after closing on Thursday at 13.47. The most heavily traded options this morning are for the iShares Russell 2000 Index ETF (IWM), with 21,620 May 132 puts on the board. The total put/call ratio as of 10:00 AM was 1.02 (519,467/510,659). The advancers/decliners ratio for NYSE stocks is 420/2,260 while the advancers/decliners ratio for NASDAQ stocks is 635/2,258.

Symbols: IWM
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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