Stocks rise on good economic news

economic growth

Major indices are in the green this Thursday morning after two pieces of good economic news. The Commerce Department reported that the US trade deficit narrowed by 2.7% in August, which should  be good for President Trump who promised to make narrowing the deficit a high priority. Jobless claims also fell last week, down to 260K, a sign that the negative economic impact of the three recent hurricanes is already fading. Internet highflier Shopify (SHOP) is down 8% this morning, having fallen 11% on Wednesday after a negative report from short-seller Citron.

West Texas Intermediate crude is trading at $50.46. At present, the S&P 500 is up 0.21%, the DJIA is up 0.14%, and the NASDAQ is up 0.29%.

Here are your Thursday morning market metrics. Industries doing well today include metals & mining, beverages, and internet & catalog retail. Industries showing weakness include air freight, biotechnology, and healthcare technology. The VIX is down 2% to 9.44 after closing on Wednesday at 9.63. The most heavily traded options this morning are the SPDR S&P 500 (SPY), with 4,301 October-6 255 calls on the board. The total put/call ratio as of 10:00 AM was 1.05 (244,655/256,623). The advancers/decliners ratio for NYSE stocks is 1,776/989, while the advancers/decliners ratio for NASDAQ stocks is 1,532/1,122.

Symbols: SHOP SPY
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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