Stocks mixed as earnings parade continues

Major indices are mixed this Thursday morning as hundreds of companies report earnings every day in the market’s busiest week for third quarter earnings results. The Euro is down against the dollar after ECB’s Draghi announces that there will be fewer bond purchases. In a crushing blow to many biotech investors, chemotherapy giant Celgene (CELG) is down 18% after giving disappointing 2018 guidance. On the plus side, Twitter (TWTR) is up 11% after a third quarter earnings win.

West Texas Intermediate crude is trading at $52.10. At present, the S&P 500 is up 0.24%, the DJIA is up 0.16%, and the NASDAQ is down 0.01%.

Here are your Thursday morning market metrics. Industries doing well today include commercial services, airlines, and road & rail. Industries showing weakness include biotechnology, metals & mining, and construction materials. The VIX is down 2.8% to 10.92 after closing on Wednesday at 11.23. The most heavily traded options this morning are for the iShares Russell 2000 ETF (IWM), with 6,807 November-17 146 puts on the board. The total put/call ratio as of 10:00 AM was 0.97 (235,332/228,283). The advancers/decliners ratio for NYSE 1,754/998 stocks is while the advancers/decliners ratio for NASDAQ stocks is 1,553/1,133.

Symbols: CELG IWM TWTR
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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