Stocks frozen in place


Major indices are mixed this Thursday morning to begin the second to last trading day of the year. As the mid-Atlantic bundles up due to a cold spell, the market itself appears nearly frozen. Oil prices remain near $60, gold remains near $1,296, and Bitcoin remains near incomprehensibility. Initial Unemployment Applications were unchanged from last week at 245,000. The market almost seems to be whispering, “go back to sleep…”

At present, the S&P 500 is down 0.08%, the DJIA is down 0.17%, and the NASDAQ is up 0.36%. West Texas Intermediate crude is trading at $59.62. Bitcoin is at $14,425 on Bitstamp.

Industries doing well today include consumer finance, diversified consumer services, and diversified financial services. Industries showing weakness include distributors, real estate management, and independent power. The VIX is down 2.5% to 10.2 after closing on Tuesday at 10.47. The most heavily traded options this morning are for Bank of America (BAC), with 3,620 December-29 30 calls on the board. The total put/call ratio as of 10:00 AM was 0.85 (160,207/136,003). The advancers/decliners ratio for NYSE stocks is 1,841/1,281 while the advancers/decliners ratio for NASDAQ stocks is 1,399/1,348.

Symbols: BAC
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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