Stocks get down in early trading

 

Major indices opened in the red this Monday morning, a place they haven’t been for a while, but they are already pairing those losses, so this may be nothing more than a blimp before we return to the regularly scheduled euphoria. As for surging oil and interest rates, the 10-year US Treasury yield has fallen back to 2.467% after having recently reached 2.5%, but oil is still very near its recent high, having lost only pennies from this same time on Friday.

At present, the S&P 500 is down 0.12%, the DJIA is down 0.18%, and the NASDAQ is down 0.04%. West Texas Intermediate crude is trading at $61.55. Bitcoin is at $14,349.99 on Bitstamp, though Alt-coins Ethereum and Ripple have been outperforming it.

Industries doing well today include air freight, internet/catalog retail, and multi-utilities. Industries showing weakness include diversified consumer services, biotechnology, and airlines. The VIX is up 5.21% to 9.7 after closing on Friday at 9.22. The most heavily traded options this morning are for the iShares MSCI Emerging Markets ETF (EEM), 7,700 February-2 50 calls on the board. The total put/call ratio as of 10:00 AM was 0.7 (368,413/258,859) The advancers/decliners ratio for NYSE stocks is 1,180/1,667 while the advancers/decliners ratio for NASDAQ stocks is 1,028/1,826.

Symbols: EEM

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