Stocks go green in broad rally


Major indices are in the green this Thursday morning. The rally is not large, but it is broad. General Electric (GE) is up 1.22% after announcing that it would cut 12,000 jobs. Bitcoin is grabbing headlines again this morning, having risen by another $3,500 in just the past 24 hours. The current, rapid rise is probably being driven in part by the coming launch (this Sunday) of Bitcoin futures trading on the CME and CBOE. Investors should take note: Bitcoin may well be headed towards a glorious future, but there are no one-way streets in this game.

At present, the S&P 500 is up 0.21%, the DJIA is up 0.22%, and the NASDAQ is up 0.55%. West Texas Intermediate crude is trading at $56.47. Bitcoin is at $16,750.

Industries doing well today include multiline retail, metals & mining, and internet software. Industries showing weakness include diversified consumer services, household products, and independent power. The VIX is down 5% to 10.47 after closing on Wednesday at 11.02. The most heavily traded options this morning are for Freeport-McMoRan (FCX), with 20,142 December-22 15 calls on the board. The total put/call ratio as of 10:00 AM was 0.7 (267,731/188,092). The advancers/decliners ratio for NYSE stocks is 1,809/1,055 while the advancers/decliners ratio for NASDAQ stocks is 1,983/847.

Symbols: FCX GE
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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