Stocks open lower


Major indices are in the red this morning after the JOLTS Job Openings number for June came in at 5.35 million, slightly lower than expected. Things are pretty calm this Tuesday as far as major indices and the oil market are concerned. Tesla (TSLA) is one of the small number of market winners today, up 1.4% after CEO Elon Musk remarked that he could sell 700,000 cars annually. It’s a bad day for Avis (CAR), down 9% after reporting a huge second quarter earnings miss.

West Texas Intermediate crude is trading at $49.08. At present, the S&P 500 is down 0.08%, the DJIA is down 0.02%, and the NASDAQ is down 0.11%.

Here are your Tuesday morning market metrics. Industries doing well today include multiline retail, textiles, and independent power. Industries showing weakness include construction materials, life sciences tools, and metals & mining. The VIX is up 0.7% to 10 after closing on Monday at 9.93. The most heavily traded options this morning are for the SPDR S&P 500 ETF, (SPY), with 4,046 September-15 245 calls and 4,045 August-13 245 calls on the board. The total put/call ratio as of 10:00 AM was 1.04 (261,818/273,522). The advancers/decliners ratio for the NYSE is 1,146/1,598 and for the NASDAQ 1,175/1,521.

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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