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
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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